World · Malaysia Bureau
Penang chipmaker SQAI eyes RM300 million IPO early 2027
SQAI, a semiconductor company based in Penang, is preparing to list on the stock exchange with an initial public offering valued at RM300 million. The company plans to deploy the capital raised for facility expansion, research and development, and other operational initiatives.
LSN Malaysia ·
Penang-based chipmaker SQAI is targeting an initial public offering worth RM300 million in the first quarter of 2027, according to details contained in a draft prospectus filed with authorities.
The proposed listing would mark a significant milestone for the semiconductor manufacturer, which is positioning itself to tap public capital markets as it pursues expansion and innovation in the competitive microchip sector.
Proceeds from the IPO are earmarked for several strategic purposes, including the expansion of manufacturing facilities and increased investment in research and development activities. The company also intends to allocate funds to other operational and business development areas as outlined in its prospectus.
The Penang location provides SQAI with access to Malaysia's established semiconductor ecosystem, which encompasses manufacturing capabilities, skilled workforce, and proximity to regional supply chains. The planned IPO comes amid broader interest from technology and semiconductor firms seeking to raise capital for capacity building and R&D initiatives in the region.