Kuala lumpur: SkyeChip Bhd's initial public offering (IPO) has been oversubscribed by 95.03 times ahead of its listing on the Main Market of Bursa Malaysia. In a statement today, the company announced that it received 74,453 applications for 3.45 billion IPO shares from the Malaysian public for 35.92 million shares available under the public portion.

According to BERNAMA News Agency, this translates to a total demand of RM3.04 billion, marking it as the largest since Petronas Chemicals Group Bhd's IPO in 2010. The company further reported that 16,647 applications for 668.27 million shares were received for the Bumiputera portion, representing an oversubscription rate of 36.21 times.

Meanwhile, the public portion for other Malaysian investors attracted 57,806 applications for 2.78 billion shares, resulting in an oversubscription rate of 153.86 times. The 99.41 million IPO shares allocated to eligible persons and 264.67 million shares allocated to institutional and selected investors have been fully subscribed, according to SkyeChip.

The company also revealed that the remaining 109.67 million IPO shares offered via the bookbuilding exercise attracted demand for 4.36 billion shares, representing an oversubscription rate of 38.76 times for the tranche. The institutional price and final retail price were fixed at RM0.88 per share.

Maybank Investment Bank Bhd is serving as the principal adviser, lead bookrunner, joint bookrunner, managing underwriter, and joint underwriter for the IPO. The notices of allotment will be issued to successful applicants by May 18, 2026.