Malaysian chip firm SQAI said to plan US$73 million IPO in early 2027

[KUALA LUMPUR] Malaysian semiconductor firm SQ Advanced Interconnect (SQAI) is considering raising about RM 300 million (US$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 RM 1.5 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 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. 

Malaysia has ambitions to become a high-value semiconductor hub, and its chip exports are at a record high.

Penang-based SkyeChip raised RM 352 million in the country’s third-biggest IPO of 2026. Its shares jumped 151 per cent on their first trading day in May and are now up about 230 per cent since the IPO. BLOOMBERG