SkyeChip Surges 298% on May 20 IPO Debut, Raises $88.5 Million

GateNews
According to The Edge Malaysia, Malaysian semiconductor design firm SkyeChip surged on its Main Market debut on May 20, opening at 3.5 ringgit (US$0.88) against its 88 sen IPO price, a 298% jump. The company raised 352 million ringgit (US$88.5 million) with more than 95 times subscription, adding approximately 4.7 billion ringgit (US$1.18 billion) to its market value. About 60% of proceeds will be allocated to research and development.
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