Malaysian Chip Firm SQAI Said to Plan $73 Million IPO in Early 2027

Malaysian semiconductor firm SQ Advanced Interconnect Bhd. is considering raising about 300 million ringgit ($73 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 1.5 billion ringgit 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 spokesperson 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.

Read More: Chip IPO Highlights Malaysia Deals Surging Toward 13-Year High

Malaysia has ambitions to become a high-value semiconductor hub, and its chip exports are at a record high . Penang-based SkyeChip Bhd. raised 352 million ringgit 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.