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"Risk comes from not knowing what you're doing" Warren Buffett I look and sift the world for such misplaced bets. When I occasionally find one, I first exploit it for profit. Then, I write about it for anyone else interested in such ideas. Twitter: @unemon1 Scribd:... More
  • A Possible Explanation For The Recent Himax (奇景光電) Technologies Shelf Registration. 0 comments
    May 4, 2013 7:41 AM | about stocks: HIMX, GOOG

    " … TAINAN, Taiwan, April 30, 2013 (GLOBE NEWSWIRE) -- Himax Technologies, Inc. (HIMX) ("Himax" or "Company") today announced the filing of a shelf registration statement on Form F-3 with the Securities and Exchange Commission ("SEC").

    The shelf registration statement, when declared effective by the SEC, will allow Himax and Innolux Corporation, one of the Company's major shareholders and largest customer, the flexibility to potentially offer and sell from time to time in the future, in one or more public offerings, up to 25,472,673 and 25,399,753 of the Company's American Depositary Shares, respectively.

    While Himax does not have any commitments or current intention to sell securities under the shelf registration statement at this time, filing the shelf registration statement is intended to give Himax greater flexibility to capitalize on favorable market conditions and to respond to strategic opportunities as they may arise …"

    By selling 25,399,753 shares at a price of $6.00 each share, Himax would be able to raise about $152 Million.

    Is it possible that Himax is plannig to raise funds to finance the expansion of its current production capacity for LCOS micro panels (such as those used in Google Glass)?

    In a Circular dated December 2011, the Government of Shenzhen disclosed that (Link):

    "… Himax Intends to invest in Shenzhen as much as RMB532 million (about $90 million) to build its R&D operations center in China as well as its production facility for the LCOS micro projector module and its wafer-level digital camera module."

    Below is the original version of the text:

    "奇景光电拟在深圳投资5.32亿元,建设大陆运营研发总部、LCOS微型投影模块研发及生产基地、晶圆级数码相机模块(WLM)研发及产业化生产基地。计划2012-2013年建设运营研发总部,引进核心技术研发团队、技术测试团队、营销团队和财务结算等职能。2012-2014年建设研发生产基地一期工程,生产LCOS和WLM。"

    产业链

    环节

    投资主体

    项目名称

    投资额

    建设内容

    进度安排

    主办单位

    协办单位

    模组

    驱动IC

    奇景光电

    大陆运营研发总部、LCOS微型投影模块研发及生产基地、晶圆级数码相机模块(WLM)研发及生产基地项目

    5.32

    在深圳投资建设大陆运营研发总部、LCOS微型投影模块研发及生产基地、晶圆级数码相机模块(WLM)研发及生产基地。

    计划2012-2013年投资约6000万美元,建设运营研发总部,引进奇景光电的核心技术研发团队、技术测试团队、营销团队和财务结算等职能。2012-2014年投资约9000万美元,建设研发生产基地一期工程,生产LCOS和WLM。

    市发展改革委

    市经贸信息委、科技创新委、规划国土委

    Unless there is another Company named Himax that produces LCOS Micro projectors modules, we have to assume that the company mentioned on this official webpage is Himax Technologies (Nasdaq: HIMX)

    When contacted, the Company said that it does "not have the plan and the filer is not our related party".

    Disclosure: I am long HIMX.

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