Chip-Designer Skyechip Inks Underwriting Deal for Malaysia IPO

Malaysian chip-design firm Skyechip Bhd. has signed an underwriting agreement with local banks for an initial public offering, with proceeds earmarked for the research and development of artificial intelligence products.

The offering comprises 400 million new shares, or 22.3% of the company’s enlarged share capital, Skyechip said in a statement on Monday. Maybank Investment Bank Bhd. and CIMB Investment Bank Bhd. have been appointed bookrunners for the IPO.