SkyeChip Bhd debuted on Bursa Malaysia’s Main Market on May 20, 2026, after raising RM352 million from its initial public offering (IPO) priced at RM0.88 per share, with no sale of existing shares. The IPO was oversubscribed by more than 95 times, signaling strong investor demand. Shares opened at RM3.50, nearly four times the IPO price, with volume exceeding 23 million shares on the first day of trading [1, 2, 3, 4, 5].
By the second trading day on May 21, SkyeChip’s share price closed at RM2.33, gaining 5.43%, making it the second-best performing Malaysian IPO of 2026. Market capitalization was reported between RM4.18 billion and RM4.7 billion depending on the source [2, 3, 4].
SkyeChip recorded a net profit of RM31.47 million and revenue of RM58.9 million for the fourth quarter ended March 31, 2026. For the full financial year, net profit rose 34% to RM48.17 million from RM35.95 million the previous year, while revenue grew 29.7% to RM155 million [1, 6]. Licensing silicon intellectual property (IP) contributed 57.7% of Q4 revenue, with custom ASIC sales from customers in China, the US, and South Korea accounting for 41.9% [1, 6].
The customer base expanded from 14 to 26 in fiscal 2026, with US and Korean customers generating 24.1% of total revenue. SkyeChip is primarily engaged in integrated circuit design, specializing in silicon IP and custom ASICs, and is headquartered in Penang, Malaysia [1, 3, 6].
More than 60% of IPO proceeds, RM211.5 million, will be allocated to research and development. About 16% will fund operational and computing infrastructure expansion. Remaining funds will support licensing, development tools, working capital, and listing expenses [1, 3].
CEO Datuk Fong Swee Kiang said the company is expanding its IP portfolio as it scales into silicon products, including custom ASICs, and investing in next-generation technologies such as AI and advanced architectures. He called the company’s technology and strategy platform a key enabler of growth in these areas [1].
SkyeChip gained conditional access to Arm Holdings plc’s Arm Flexible Access platform shortly before the IPO. Major shareholders include CEO Datuk Fong Swee Kiang and CTO Teh Chee Hak, who collectively held a 24% stake valued at about RM1 billion as of May 21, 2026 [3, 4].
The IPO saw participation from 22 cornerstone investors, including the Employees Provident Fund, armed forces fund, pilgrimage fund, Aham Asset Management, AIA Insurance, CMY Capital, and Great Eastern Life [3].
SkyeChip announced its quarterly and full-year financial results on May 18, 2026, shortly before listing. The company aims to use its IPO capital chiefly for R&D to advance its portfolio in silicon IP and ASIC development.
SkyeChip’s next major milestone will be executing its R&D expansion plans funded by IPO proceeds, targeting growth in next-generation AI and computing architectures.
