Malaysian chip firm SQAI said to plan US$73 million IPO in early 2027
The Penang-based firm may seek a valuation of up to RM 1.5 billion, sources say
Malaysian semiconductor firm SQ Advanced Interconnect (SQAI) is reportedly planning to raise approximately US$73 million through an initial public offering (IPO) in the first quarter of 2027, according to sources familiar with the matter. The Penang-based company, which also operates a plant in China, may aim for a valuation of up to RM 1.5 billion (around US$350 million) in the listing.
The exact size of the IPO and its timing are still under discussion. A spokesperson for SQAI did not comment on the matter. SQAI's draft prospectus indicates that the company plans to use the proceeds from the IPO to fund facility expansion, research and development, and other areas. Malaysia is aiming to become a high-value semiconductor hub, with chip exports reaching a record high.
In 2026, SkyeChip, another Penang-based firm, raised RM 352 million in the country's third-largest IPO of that year, with its shares jumping 151% on the first trading day and being up about 230% since the IPO.
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Also reported by 1 other outlet
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