SkyeChip Bhd ended its first day of trading on the Main Market of Bursa Malaysia below its intraday debut peak but still firmly above its IPO price, following a volatile session that saw heavy profit-taking after an explosive open.
The semiconductor design firm closed at RM2.21, well below its intraday high of RM3.80 and midday level of RM2.63, as early momentum gave way to selling pressure in later trade.
Despite the pullback, the counter remained significantly above its IPO price of 88 sen, translating into a gain of more than 150% on debut, underscoring strong investor demand for the stock’s first trading session.
SkyeChip opened at RM3.50, immediately surging as much as 297.7% above its listing price and briefly pushing its market debut performance into one of the most eye-catching Main Market listings in recent years.
Turnover was equally intense, with 292.8 million shares changing hands by the close, reflecting high speculative participation and active rotation throughout the day.
At midday, the stock was still trading strongly at RM2.63 on 218.5 million shares, before easing further into the close as momentum cooled and traders locked in gains.
Founded in 2019 and headquartered in Penang, SkyeChip is a pure-play integrated circuit design firm specialising in silicon intellectual property and custom ASIC development, with more than 90% of revenue derived from China and Taiwan markets.
The debut underscores both the strong appetite for semiconductor exposure and the volatility that often follows highly anticipated listings.
