New UK IPOs 12/10/22 |Fintech Asia Ltd, Ikigai Ventures Ltd, Sondrel (Holdings) Plc|

Welcome back to our monthly examination of listings on the London Stock Exchange. This time, we will be introducing three companies, namely:

  • Fintech Asia Limited
  • Ikigai Ventures Limited
  • Sondrel (Holdings) plc

Fintech Asia Limited

  • Opening Date: 15th Sep 2022
  • Issue Price: 50p
  • Market Cap: £10.37m
  • Ticker: FINA
  • At the helm: Oliver Fox

CEO of Fintech Asia, Oliver Fox holds more than 20 years of experience in accounting, business development and financial strategy. He has worked in financial partnering positions at the Royal Bank of Scotland for almost ten years, as well as helping the London Stock Exchange identify IPO candidates in South-East Asia and Australasia.

Oliver has an MBA with distinction from the University of Strathclyde and an honours law degree. He is also an associate member of the Chartered Institute of Management Accountants.

What they do

Incorporated in May 2021, Fintech Asia was formed to acquire target(s) in the fintech industry. Fintech refers to automation and technologies that enhance the provision of financial services. Examples of fintech include artificial intelligence, data and analytics, mobile technology and software. The global fintech market is expected to grow to US$ 315 billion by 2025.

The company’s investment strategy is open to various geographic locations and development stages. However, given the management’s experience and knowledge about the Asia-Pacific region, it is likely that the target will exist in Asia-Pacific too. Fintech Asia will also focus on products that improve the experience of consumers, such as mobile banking, digital payments and technology in the blockchain.

Ikigai Ventures Limited

  • Opening Date: 15th Sep 2022
  • Issue Price: 0.5p
  • Market Cap: £10.34m
  • Ticker: IKIV
  • At the helm: Nicholas Bryan-Brown

Nicholas Bryan-Brown is the CEO of Ikigai Ventures. He has more than thirty years of experience in Asian markets, having worked extensively in Hong Kong and Singapore. His stints at HSBC culminated with the position of Co-head of Investment Banking for the Asia-Pacific Region. In 2011, he co-founded the leading research and risk advisory firm, Blackpeak Group. The Group has offices in Hong Kong, Singapore, Beijing, Shanghai, Guangzhou, Tokyo and Washington DC.

What they do

Incorporated in 2021, Ikigai Ventures is a special purpose acquisition company (“SPAC”), which aims to acquire targets with a core Asian business that focuses on its environmental, social and governance (“ESG”) strategies. By investing in companies that place an emphasis on ESG, Ikigai Ventures delivers a positive impact to the society we live in and adheres to the Japanese philosophy of having a purpose in life. Hence, its name “Ikigai”.

In terms of acquisition strategy, the firm is sector-agnostic and seeks companies that have sustainability at the heart of their business model and the potential to expand globally. Although the firm is open to other geographic locations, it is likely that Ikigai Ventures will seek targets in the Asia-Pacific region given the expertise of its management and advisors.

Sondrel (Holdings) plc

  • Opening Date: 21st Oct 2022
  • Issue Price: 55p
  • Market Cap: £48.1m
  • Ticker: SND
  • At the helm: Graham Curren

Graham Curren is the founder and CEO of Sondrel. He graduated in Electronic Engineering from Leeds University. Prior to founding Sondrel, he worked as the European Head of Marketing and Engineering of the electronic design automation company, Avant Corporation. From 2011 to 2017, he was also a non-executive director at China-Britain Business Council.

What they do

Sondrel is a UK fabless semiconductor maker that provides application-specific integrated circuits (“ASICs”) and system-on-chips (“SoCs”) supplies and consulting services to technology companies around the world. The company has design centres in China, India, Morocco and the U.K. Sondrel’s designs have been used in many products, including but not limited to mobile phones, games consoles, security systems, AR/VR systems, network switches and routers, cameras, and computer systems. Some brands that have utilised Sondrel’s designs include Apple, Sony, Meta, Samsung and Tesla.

Sondrel offers its clients a ‘one-stop shop’, providing turnkey ASIC services from conceptualisation and designs to supply. The company’s expertise comes from its designs and research and development, with more than 200 engineers to assist a wide range of clients, whether global household names or small start-ups.

Sondrel has seen tremendous growth over the years, with a CAGR of 20% since its establishment in 2022. The company now has approximately £300m revenue in the pipeline.

By Bernice Ng

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