Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

SK Holdings Co Ltd/Old / Equity Capital Markets

SK Siltron is expected to complete its IPO in 2H18. This is expected to be one of the highly anticipated IPOs in the Asian semiconductor sector this year. SK Siltron makes silicon wafers which are thin discs used as a basic material for semiconductors. These wafers are used to make semiconductor devices such as DRAM, flash memory, LCD drivers, image sensors, and power devices. Currently, <a href="https://www.smartkarma.com/entities/393" target="_blank" data-smartkarma-citation="entities:393:1">SK Holdings Co Ltd (034730 KS)</a> has a 70.6% stake in SK Siltron. <h2>Company Background</h2>Established in 1983, SK…

SK Siltron is expected to complete its IPO in 2H18. This is expected to be one of the highly anticipated IPOs in the Asian semiconductor sector this year. SK Siltron makes silicon wafers which are thin discs used as a basic material for semiconductors. These wafers are used to make semiconductor devices such as DRAM, flash memory, LCD drivers, image sensors, and power devices. Currently, SK Holdings Co Ltd (034730 KS) has a 70.6% stake in SK Siltron. Company BackgroundEstablished in 1983, SK…

Japan/Asia Long-Short, LightStream Research

Mio Kato

Japan/Asia Long-Short

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

We believe that conditions within the semiconductor chain make the relative prospects for wafer manufacturers extremely attractive in terms of both potential upside as well as the likelihood and volatility of profit growth over the next 3-4 years. In contrast, surging capex levels in 2017 make us concerned that we are nearing the top in terms of wafer fabrication equipment spending. While we are not outright negative on semi capex, we feel the potential for a plateau is increasingly high. More…

We believe that conditions within the semiconductor chain make the relative prospects for wafer manufacturers extremely attractive in terms of both potential upside as well as the likelihood and volatility of profit growth over the next 3-4 years. In contrast, surging capex levels in 2017 make us concerned that we are nearing the top in terms of wafer fabrication equipment spending. While we are not outright negative on semi capex, we feel the potential for a plateau is increasingly high. More…

Germany

Siltronic AG manufactures hyperpure silicon wafers. The Company offers products including non-polished and epitaxial coated wafers with different diameter sizes. Siltronic caters its products worldwide for use in computers, smartphones, flat-panel displays, navigation systems, automotive engine control systems, and many other applications.

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Siltronic AG (WAF GR)

SK Siltron IPO Preview (Part 1)

SK Siltron is expected to complete its IPO in 2H18. This is expected to be one of the highly anticipated IPOs in the Asian semiconductor sector...

Douglas Kim

Sumco Vs. TEL: Wafers over Etchers

We believe that conditions within the semiconductor chain make the relative prospects for wafer manufacturers extremely attractive in terms of both...

Mio Kato

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