Chipmaker SQAI said to plan RM300mil IPO in early 2027

Malaysian semiconductor company SQ Advanced Interconnect Bhd is reportedly planning to raise RM300 million through an initial public offering (IPO) in the first quarter of 2027, according to sources familiar with the matter. The IPO could see the company seek a valuation of up to RM1.5 billion. SQAI, headquartered in Malaysia’s semiconductor hub of Penang and with a plant in China, has not confirmed the details of the IPO, as discussions are ongoing.

The prospectus for the IPO indicates the company aims to sell approximately 337.5 million shares and allocate the proceeds towards facility expansion, research and development, and other purposes. Malaysia is aiming to establish itself as a high-value semiconductor hub, with chip exports reaching record levels. In May, Penang-based SkyeChip Bhd successfully raised RM352 million in one of the country’s largest IPOs of the year, with its shares experiencing a remarkable 151% surge on the first day of trading, now up about 230% since the IPO.