SkyeChip's IPO Oversubscribed 95x as Malaysia's Chip Designer Lists May 20, Raising $773M

SkyeChip, a Penang-based semiconductor intellectual property designer, is set to list on Bursa Malaysia's main market on May 20 with unprecedented investor demand. The company's IPO was oversubscribed 95 times, the largest response since Petronas Chemicals' 2010 listing, translating to total demand exceeding 3 billion ringgit ($773 million).

For FY2025, SkyeChip reported revenue of 119.5 million ringgit ($30.4 million) and net profit of 35.9 million ringgit ($9.1 million). The company specializes in memory interface intellectual property for AI data centers. However, over 90% of revenue derives from customers in China and Taiwan, exposing the company to risks from tightening U.S. export controls.