Chipmaker SQAI said to plan RM300mil IPO in early 2027

Malaysian semiconductor firm SQ Advanced Interconnect Bhd is considering raising about RM300 million in an initial public offering in the first quarter of 2027, people familiar with the matter said.

SQAI, which is based in Malaysia’s semiconductor hub Penang and also has a plant in China, may seek a valuation of up to RM1.5 billion in the listing, the people said, asking not to be identified discussing private information.

Deliberations are ongoing and details such as the IPO size and timing may change, they said. A spokesman for SQAI declined to comment.

SQAI’s draft prospectus shows it aims to sell about 337.5 million shares and use the proceeds on facility expansion, research and development and other areas.

Malaysia has ambitions to become a high-value semiconductor hub, and its chip exports are at a record high. Penang-based SkyeChip Bhd raised RM352 million in the country’s third-biggest IPO of the year. Its shares jumped 151% on their first trading day in May and are now up about 230% since the IPO.