PETALING JAYA: Integrated circuit (IC) design firm SkyeChip Bhd has signed a retail underwriting agreement with Maybank Investment Bank Bhd and CIMB Investment Bank Bhd for its upcoming initial public offering (IPO) on the Main Market of Bursa Malaysia.
The Penang-based firm, which commenced its IC design operations in 2020, plans to use about 60% of the IPO proceeds for the research and development of IC products and silicon intellectual property (IP).
The IPO comprises a public issue of 400 million new ordinary shares in SkyeChip, representing 22.3% of its enlarged issued share capital.
Notably, there is no offer for sale of existing shares by the current shareholders.
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