APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Alchip Technologies / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/alchip-technologies-ltd" target="_blank" data-smartkarma-citation="entities:20219:1" rel="noopener">Alchip Technologies (3661 TT)</a> is looking to raise around US$1bn in its upcoming global depository receipts (GDRs) offering.</li>
<li>Alchip Technologies (AT) is a Taiwan-based fabless semiconductor company specializing in ASIC and SoC design services for high-performance computing, AI, networking, and data center applications.</li>
<li>Similar to previous GDR listings, the deal is a drawn out process with the firm required to jump through a number of board/shareholder/regulatory approval loops.</li>
</ul>



Alchip Technologies (3661 TT) is looking to raise around US$1bn in its upcoming global depository receipts (GDRs) offering.
Alchip Technologies (AT) is a Taiwan-based fabless semiconductor company specializing in ASIC and SoC design services for high-performance computing, AI, networking, and data center applications.
Similar to previous GDR listings, the deal is a drawn out process with the firm required to jump through a number of board/shareholder/regulatory approval loops.


Aequitas: Alchip Technologies GDR Early Look - Strong Stock Momentum Ahead of Upcoming GDR Issue

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

MSCI Emerging Markets Index / Technical Analysis

EM equities remain long-term leadership despite giving up some ground over the last month to developed markets. Given the intact relative strength uptrend, we reiterate our overweight EM recommendation. Energy and Health Care stocks are outperforming and remain attractive. Technology is consolidating and we would use recent weakness as a buying opportunity. Today’s report includes a wide variety of bottom-up recommendations, spanning most sectors and all market capitalizations.

EM equities remain long-term leadership despite giving up some ground over the last month to developed markets. Given the intact relative strength uptrend, we reiterate our overweight EM recommendation. Energy and Health Care stocks are outperforming and remain attractive. Technology is consolidating and we would use recent weakness as a buying opportunity. Today’s report includes a wide variety of bottom-up recommendations, spanning most sectors and all market capitalizations.

EM Strategy: Overweight Technology, Energy, and Health Care.

Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

Equity Bottom-Up

<ul>
<li>SUMCO soared 18% on May 8. Their share price is +260% over the past year and +149% YTD. Siltronic &amp; GlobalWafers have shown a similar, albeit less dramatic, trend.  </li>
<li>The silicon wafer recovery from a protracted post-pandemic downturn remains a work in progress. Inventory levels are still at historic highs, current year forecasts are ho-hum at best</li>
<li>Many semi names are presently re-rating based on record breaking revenue growth. That kinda makes sense. The silicon wafer manufacturers are rallying on sentiment. That may become problematic. Let's see.</li>
</ul>


SUMCO soared 18% on May 8. Their share price is +260% over the past year and +149% YTD. Siltronic &amp; GlobalWafers have shown a similar, albeit less dramatic, trend.  
The silicon wafer recovery from a protracted post-pandemic downturn remains a work in progress. Inventory levels are still at historic highs, current year forecasts are ho-hum at best
Many semi names are presently re-rating based on record breaking revenue growth. That kinda makes sense. The silicon wafer manufacturers are rallying on sentiment. That may become problematic. Let's see.


Sumco Soars But Their Downturn Recovery Still Remains Very Much A Work In Progress

Thematic (Sector/Industry)

Silicon wafer shipment numbers racked up a fourth consecutive year of record highs in 2017, increasing by 10% to 11,810 million square inches (MSI). Revenues also increased, by 21% to $8.71 billion. Those numbers reflect the widely reported silicon wafer shortages and associated prices hikes which characterized the market last year. According to the latest earnings reports and press releases from the key silicon wafer manufacturers, little will change in 2018. In this Insight, we review the latest wafer shipment data and demonstrate that despite last year's price increases, the silicon wafer industry remains far behind the levels of profitability they enjoyed at their peak one decade ago.

Silicon wafer shipment numbers racked up a fourth consecutive year of record highs in 2017, increasing by 10% to 11,810 million square inches (MSI). Revenues also increased, by 21% to $8.71 billion. Those numbers reflect the widely reported silicon wafer shortages and associated prices hikes which characterized the market last year. According to the latest earnings reports and press releases from the key silicon wafer manufacturers, little will change in 2018. In this Insight, we review the latest wafer shipment data and demonstrate that despite last year's price increases, the silicon wafer industry remains far behind the levels of profitability they enjoyed at their peak one decade ago. 

Silicon Wafers-The Golden Goose With More To Give

According to the latest forecast from SEMI, details <a href="http://www.semi.org/en/wafer-shipments-forecast-increase-2017-2018-and-2019" target="_blank">here</a>, silicon wafer shipments are set to increase 8.2% in 2017, up from 3.2% in 2016. Furthermore, the sector is forecast to grow a further 3.2% in 2018 and 3.6% in 2019."Silicon shipment volumes are expected to ship at historic highs for this year and into 2019," said Dan Tracy, senior director of Industry Research &amp; Statistics at SEMI. "The expectation is for steady annual growth due to the proliferation of connected devices required for…

According to the latest forecast from SEMI, details here, silicon wafer shipments are set to increase 8.2% in 2017, up from 3.2% in 2016. Furthermore, the sector is forecast to grow a further 3.2% in 2018 and 3.6% in 2019."Silicon shipment volumes are expected to ship at historic highs for this year and into 2019," said Dan Tracy, senior director of Industry Research &amp; Statistics at SEMI. "The expectation is for steady annual growth due to the proliferation of connected devices required for…

Silicon Wafers- The Golden Goose That Keeps on Giving

Taiwan

Globalwafers Co., Ltd. specializes in silicon wafer manufacturing and also provides solar wafers and crystal rods. The Company possesses a complete production line from ingot growth, slicing, etching, diffusion, polishing to epitaxy. Their products include Epi wafers, polished wafers, etched wafers, ultra thin wafers and deep diffusion wafers.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Globalwafers (6488 TT)

Aequitas: Alchip Technologies GDR Early Look - Strong Stock Momentum Ahead of Upcoming GDR Issue

Alchip Technologies (3661.TT) is looking to raise around US$1bn in its upcoming GDR offering. On 6th Mar 2026, AT announced its board’s resolution...

Akshat Shah

EM Strategy: Overweight Technology, Energy, and Health Care.

EM equities remain long-term leadership despite giving up some ground over the last month to developed markets. Given the intact relative strength...

Vermilion Research

Sumco Soars But Their Downturn Recovery Still Remains Very Much A Work In Progress

Many semi names are re-rating based on record breaking revenue growth. That kinda makes sense. The silicon wafer manufacturers are rerating on not...

William Keating

Silicon Wafers-The Golden Goose With More To Give

Silicon wafer shipment numbers racked up a fourth consecutive year of record highs in 2017, increasing by 10% to 11,810 million square inches...

William Keating

Silicon Wafers- The Golden Goose That Keeps on Giving

According to the latest forecast from SEMI, details here, silicon wafer shipments are set to increase 8.2% in 2017, up from 3.2% in 2016....

William Keating

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)