Silex Microsystems: MEMS IPO

Silex Microsystems - IPO

Silex is a contract fab for MEMS (micro-electromechanical systems). like TSMC, but for this specific type of components

in fact, for mems - tsmc has a division too. so they are direct competitors with silex being bigger in this specific area

silex owns 15% of the market share and is currently biggest player in a highly fragmented market

their direct customers include 3/7th of the mag7

ai datacenters are moving towards optical circuit switches (OCS) and mems micromirrors play an essential role (+ ~4 other types of mems in other roles)

the ipo happens at a valuation of $1b usd (8.8B sek)

i think this is a fair and reasonable valuation (PE 33.4) Silex is a strong player in a rly important/growing industry that's seeing a lot of demand.

I think it is a strong candidate to go up to a more unreasonable valuation. photonics premium etc. the hot ball of money as flowing and Silex could be a very realistic beneficiary - so frontrunning this is very tempting.

for swedes: IPO can be subscribed to until May 5th
for everyone else: Silex can be traded on swedish exchange on May 7th