KUALA LUMPUR (April 13): SkyeChip Bhd, a semiconductor design firm, has secured Maybank Investment Bank Bhd (Maybank IB) and CIMB Investment Bank Bhd (CIMB IB) to underwrite its planned listing on the Main Market.
A retail underwriting agreement was entered into with Maybank IB and CIMB IB, the silicon intellectual properties (IPs) and custom application-specific integrated circuits (ASICs) design specialist said in a statement on Monday.
“We are grateful for the guidance from our principal adviser, Maybank IB, and the confidence shown by our customers, suppliers and partners throughout the initial public offering (IPO) journey. The government of Malaysia’s strong support has also played an important role in enabling local semiconductor companies to scale globally,” SkyeChip executive director and CEO Datuk Fong Swee Kiang said.
The IPO comprises a public issue of 400 million new shares, 22.3% of the company’s enlarged share base. The offering is broken down into 264.67 million shares under the institutional offering and 135.33 million under the retail offering.
No existing shares are being offered by current shareholders under the listing exercise.
More than half of the IPO proceeds, or 60%, will be used for research and development of IC products and silicon IP. Another 16% is earmarked to expand its computing infrastructure and operational facilities, followed by 10% for the subscription and licensing of electronic design automation and development software tools.
“Looking ahead, the IPO proceeds will allow us to further advance our silicon IPs and custom ASIC development in applications such as AI, high-performance computing and autonomous vehicles, as we work towards strengthening SkyeChip’s presence as a global IC design company,” Fong said.
The remainder of the proceeds will be for working capital and to defray listing expenses.
Maybank IB is also the principal adviser, lead bookrunner and managing underwriter for the IPO. It is a joint bookrunner and joint underwriter with CIMB IB.