Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>System-On-Chip designer and IP purveyor <a href="https://www.smartkarma.com/entities/socionext-inc" target="_blank" data-smartkarma-citation="entities:36351:1" rel="noopener">Socionext (6526 JP)</a> is a recent IPO in Japan, born from a spinout of Fujitsu and Panasonic system LSI operations 7+ years ago.</li>
<li>Having listed on TSE Prime from the outset, that means it gets TOPIX inclusion at the close of trading 29 November. </li>
<li>Inclusion Float is a bit nebulous. There is a chance we get official company data prior to the TSE announcement, in which case we know more by cob 31 October.</li>
</ul>


System-On-Chip designer and IP purveyor Socionext (6526 JP) is a recent IPO in Japan, born from a spinout of Fujitsu and Panasonic system LSI operations 7+ years ago.
Having listed on TSE Prime from the outset, that means it gets TOPIX inclusion at the close of trading 29 November. 
Inclusion Float is a bit nebulous. There is a chance we get official company data prior to the TSE announcement, in which case we know more by cob 31 October.


IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/o2micro-international-limited" target="_blank" data-smartkarma-citation="entities:36418:1" rel="noopener">O2Micro International (OIIM US)</a> entered into a definitive agreement for going private with FNOF Precious Honour Limited at US$5.00 per ADS, a 54.8% to the undisturbed price (17 March).</li>
<li>Shareholders representing two-thirds of shares present and voting need to approve the deal. The rollover shareholders represent 16.90% of voting rights.</li>
<li>The offer is attractive in the context of O2Micro’s weakening performance and grim market conditions. At the last close, the gross spread is 18.2%. Expect a 1Q23 deal close.</li>
</ul>



O2Micro International (OIIM US) entered into a definitive agreement for going private with FNOF Precious Honour Limited at US$5.00 per ADS, a 54.8% to the undisturbed price (17 March).
Shareholders representing two-thirds of shares present and voting need to approve the deal. The rollover shareholders represent 16.90% of voting rights.
The offer is attractive in the context of O2Micro’s weakening performance and grim market conditions. At the last close, the gross spread is 18.2%. Expect a 1Q23 deal close.


O2Micro Enters into a Definite Privatisation Agreement at US$5.00 Per ADS

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Microchip’s results for the quarter were solid and the company’s revenue increased by 6.5% sequentially and 25.1% annually to $1.96 billion surpassing Wall Street expectations.</li><li>The management has signed into multiyear long-term supply agreements with several significant clients, effectively granting them reserved capacity in exchange for assured purchases, often lasting five years.</li><li>We also have a dedicated analysis of the company's Environmental, Social, and Governance (ESG) risk scores in order to evaluate the sustainability risk.</li></ul>

Microchip’s results for the quarter were solid and the company’s revenue increased by 6.5% sequentially and 25.1% annually to $1.96 billion surpassing Wall Street expectations.The management has signed into multiyear long-term supply agreements with several significant clients, effectively granting them reserved capacity in exchange for assured purchases, often lasting five years.We also have a dedicated analysis of the company's Environmental, Social, and Governance (ESG) risk scores in order to evaluate the sustainability risk.

Microchip Technology: Excellent Base of Intangibles & Other Drivers

Credit

<ul><li>Microchip performed well across 2021 despite facing several operational challenges, including the impact of the pandemic which affected several of their factories, resulted in factory closures in several Chinese cities.</li><li>However, the silver lining is that its microcontroller revenues have been growing at more than 20% for the past few quarterly results.</li><li>All microcontroller product lines, including 8-bit, 16-bit, and 32-bit, have seen strong growth and achieved new revenue milestones.</li></ul>

Microchip performed well across 2021 despite facing several operational challenges, including the impact of the pandemic which affected several of their factories, resulted in factory closures in several Chinese cities.However, the silver lining is that its microcontroller revenues have been growing at more than 20% for the past few quarterly results.All microcontroller product lines, including 8-bit, 16-bit, and 32-bit, have seen strong growth and achieved new revenue milestones.

Microchip Technology Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

Equity Capital Markets

Microchip Technology / Equity Capital Markets

<ul><li>Microchip saw a decent quarterly result with revenue increasing 4.9% sequentially and 25.7% year over year to $1.84 billion.</li><li>The company’s microcontroller revenue surpassed $4 billion for the first time on an annualized basis.</li><li>Microcontroller revenue increased 28.3% year over year in the quarter.</li></ul>

Microchip saw a decent quarterly result with revenue increasing 4.9% sequentially and 25.7% year over year to $1.84 billion.The company’s microcontroller revenue surpassed $4 billion for the first time on an annualized basis.Microcontroller revenue increased 28.3% year over year in the quarter.

Microchip Technology Inc.: Preferred Supply Program & Other Drivers

United States

Microchip Technology Incorporated designs, manufactures, and markets microcontrollers, related mixed-signal and memory products, and application development systems for high-volume embedded control applications. The Company also designs, develops, and markets linear/mixed-signal, power management, and thermal management products.

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Microchip Technology (MCHP US)

Socionext (6526) TOPIX Inclusion

Socionext is Japan's top SoC designer. After years of slow growth/low OPMs, both turned higher pre-IPO and will grow bigly this year. Peers trade...

Travis Lundy

O2Micro Enters into a Definite Privatisation Agreement at US$5.00 Per ADS

The offer is attractive in the context of O2Micro’s weakening performance and grim market conditions. At the last close, the gross spread is 18.2%....

Arun George

Microchip Technology: Excellent Base of Intangibles & Other Drivers

Microchip’s results for the quarter were solid and the company’s revenue increased by 6.5% sequentially and 25.1% annually to $1.96 billion...

Baptista Research

Microchip Technology Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

Microchip performed well across 2021 despite facing several operational challenges, including the impact of the pandemic which affected several of...

Baptista Research

Microchip Technology Inc.: Preferred Supply Program & Other Drivers

Microchip saw a decent quarterly result with revenue increasing 4.9% sequentially and 25.7% year over year to $1.84 billion. The company’s...

Baptista Research

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