Free RM1,500*Open Moomoo AccountMalaysia's first AI chip designer. The IPO was oversubscribed 95.03× and raised RM352 million. On debut it opened at RM3.50 and closed at RM2.21. Now trades as SKYECHIP (5357).
IPO Price
RM0.88/share
Debut Open
RM3.50 (+297.7%)
Debut Close
RM2.21
| Company | SkyeChip Berhad |
| Ticker / Stock Code | SKYECHIP (5357) |
| Market | Main Market, Bursa Malaysia |
| IPO Price | RM0.88 per share |
| Subscription Period | 29 April – 6 May 2026 (closed) |
| Listing Date | 20 May 2026 |
| Total IPO Shares | 400 million (22.3% of enlarged capital) |
| Amount Raised | RM352 million |
| Retail Oversubscription | 95.03× — 74,453 applications for 3.45 billion shares |
| Shariah Compliant | ✅ Yes (at IPO) |
| Cornerstone Support | 39% of IPO shares (155M) taken |
Sources: The Edge Malaysia and The Star, 20 May 2026. Verified August 2026.
SkyeChip listed on 20 May 2026 and opened at RM3.50, RM2.62 or 297.7% above its RM0.88 IPO price. It touched an intraday high of RM3.80 before profit-taking from IPO holders pulled it back to a RM2.21 close — still 151% above the IPO price. It was the most actively traded counter on Bursa that day, with 292.9 million shares changing hands.
| IPO price | RM0.88 | |
| Opening price | RM3.50 | +297.7% vs IPO |
| Intraday high | RM3.80 | +331.8% vs IPO |
| Closing price (day 1) | RM2.21 | +151.1% vs IPO |
| Volume (day 1) | 292.9 million shares | Most active counter on Bursa |
| Market cap at close | RM3.97 billion |
What this means if you are looking at it now: the IPO discount is gone. Subscribing at RM0.88 and buying on the open market today are two different decisions — the first was a lottery (95.03× oversubscribed, so most applicants got nothing), the second is a straight valuation call at whatever the market is charging. SkyeChip trades under SKYECHIP (5357); check the live price on Bursa or your broker before deciding.
SkyeChip Berhad is Malaysia's leading fabless IC (integrated circuit) design company, specialising in Artificial Intelligence (AI) and High-Performance Computing (HPC) silicon. "Fabless" means SkyeChip designs chips but outsources manufacturing — the same model as global giants like Qualcomm, ARM, and MediaTek.
Why this matters: Malaysia has historically been a semiconductor packaging and assembly hub (Penang). SkyeChip moves Malaysia up the value chain into chip design — the highest-margin part of the semiconductor industry. It is the first AI chip design company to list on Bursa Malaysia.
| Metric | FY2025 | FY2026 | Change |
|---|---|---|---|
| Revenue | RM119.50M | RM155.02M | +29.7% |
| Net profit | RM35.95M | RM48.54M | +35.0% |
| Revenue CAGR (FY2023–FY2025) | 44.6% | — | — |
| EBITDA margin (at IPO) | 36.3% | — | — |
| Net profit margin (at IPO) | 30.1% | — | — |
FY2026 revenue and net profit as reported at listing (source: The Star, 20 May 2026). CAGR and margin figures are as stated in the IPO prospectus. Over 60% of the RM352M raised (RM211.5M) was earmarked for R&D.
✅ Bull Case
⚠️ Bear Case
📊 Verdict: the IPO was the opportunity — buying now is a valuation call
The SkyeChip IPO delivered: RM0.88 to a RM2.21 debut close is +151% in a day, and anyone who sold into the RM3.50 open did far better. But it was oversubscribed 95.03×, so most retail applicants never got shares. At today's market price you are buying Malaysia's only listed AI chip designer without the IPO discount — the case rests on whether FY2026's 29.7% revenue and 35.0% profit growth keeps compounding. The risks that applied at IPO still apply: premium valuation, customer concentration, and a cyclical semiconductor market.
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Monthly DCA growth at 10% p.a. (S&P 500 hist avg)
| Monthly | 10 yrs | 20 yrs | 30 yrs |
|---|---|---|---|
| RM300/mo | RM61k | RM228k | RM678k |
| RM500/mo | RM102k | RM380k | RM1.13M |
| RM531/mo | RM109k | RM404k | RM1.2M |
*Complete deposit & first trade via this link to track rewards · T&Cs apply · RM100 coupon ≥RM1,000 deposit · AAPL stock ≥RM30,000 deposit.
The IPO closed on 6 May 2026, so there is nothing left to subscribe to. SkyeChip now trades like any other Bursa Main Market stock — you buy it on the open market at the prevailing price.
You need a CDS account linked to a broker that trades Bursa Malaysia. On Moomoo, complete eKYC (MyKad + selfie) — takes 5–10 mins, approved in 1–2 business days.
💡 New users: cash and free-stock rewards apply on qualifying deposits — check the current offer in-app
Deposit enough to cover your intended position plus brokerage. SkyeChip trades in board lots of 100 shares, so one lot costs 100 × the prevailing market price.
Search the ticker SKYECHIP or stock code 5357 in your broker's app. Confirm you are on the Bursa Malaysia Main Market listing before ordering.
The RM0.88 IPO price is gone and the stock has been volatile — RM3.50 open, RM3.80 high, RM2.21 close on day one alone. Look at the live price and recent range, not the IPO price, when sizing your order.
On a volatile counter a market order can fill well away from the price you saw. A limit order caps what you pay.
Go to Accounts → CDS Account-IPO. This links your broker to the Bursa CDS system so you can subscribe to future IPOs. Takes 1–2 days to activate, so set it up before the next one opens.
💡 SkyeChip's retail tranche was oversubscribed 95.03× — being set up early does not guarantee allotment
Plus up to RM1,800 in new user rewards. SC Malaysia licensed. Invest in US, HK & Bursa stocks from one app.
Monthly DCA growth at 10% p.a. (S&P 500 hist avg)
| Monthly | 10 yrs | 20 yrs | 30 yrs |
|---|---|---|---|
| RM300/mo | RM61k | RM228k | RM678k |
| RM500/mo | RM102k | RM380k | RM1.13M |
| RM531/mo | RM109k | RM404k | RM1.2M |
*Complete deposit & first trade via this link to track rewards · T&Cs apply · RM100 coupon ≥RM1,000 deposit · AAPL stock ≥RM30,000 deposit.
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