Andes Technology announces that GDR will be listed in Luxembourg
San JosÃ©, Oct. 29, 2021 (GLOBE NEWSWIRE) – Andes Technology (TWSE: 6533; SIN: US03420C2089; ISIN: US03420C1099), a leading provider of RISC-V IP CPUs, today announced that it has issued successfully issued its foreign deposit certificates (GDR) on the Luxembourg Stock Exchange on September 13. Each unit of newly issued foreign certificates of deposit will represent 2 common shares, and its initial market value is priced at US $ 31.78, or approximately NT $ 440 per share. In total, 4 million units are issued, representing 8 million ordinary shares. The total amount raised abroad is approximately US $ 127 million (NT $ 3.517 billion). Andes Technology is currently the sole public provider of RISC-V IP CPUs, and the shareholders of the RDA are mainly foreign institutional investors who aim for long-term investments.
âThe funding enables Andes to achieve the primary objective of increasing capital in the medium and long term by investing in R&D and expanding product lines, especially high-end products,â said Frankwell Lin , Chairman and CEO of Andes Technology. âIn addition, global investors are able to share the growing RISC-V market. To meet the urgent demand for high-end RISC-V IT solutions, funds will primarily be spent on accelerating the expansion of product design centers to strengthen our existing leading RISC-V product portfolio as well as accelerate the development of high-value products and high-end RISC-V CPU IP and integrated SoC software and hardware solutions. In order to capture the profitable high-end multi-core IP CPU market and boost sales momentum, Andes design centers in Taiwan, United States and Canada are planning to recruit 200 R&D talents to develop RISC products. New generation -V for applications such as 5G. , artificial intelligence / machine learning, HPC, ADAS, automotive electronics, AR / VR, blockchain, cloud computing, data center, server, Internet of things, MCUs, storage devices, security, wireless devices and other massive and high computations market performance. “
Andes reports 72.6% (year-over-year) revenue growth in the first half of 2021 and 63% of revenue is from RISC-V products, including standard IP licenses and IT customization activities. Additionally, 2020 revenue is almost doubled compared to 2018, when Andes started shipping its first RISC-V cores. According to the latest Counterpoint Research study report, as semiconductor solutions require increasingly versatile IPs, the pure IP semiconductor market size will grow by 11% CAGR to $ 8.6 billion per year by 2025. RISC-V is growing rapidly, due to its open source advantage, easier optimization of power consumption, reliable security features and lower impact of political risk. RISC-V processors will continue to be rapidly adopted in several categories including IoT, industry and automotive, which are the key sectors with respectively 28%, 12% and 10% adoption by 2025 These factors favorable to the expansion of the market will benefit the Andes and its customers.
âAndes provides a hardware IP, but just like software companies, our R&D workforce is a knowledge-intensive production line,â said Dr. Charlie Su, President and CTO of Andes Technology. . âSince its inception, Andes has devoted enormous resources to R&D and focused on developing the best processor IPs to shorten customers’ time to market. This is the main reason why Andes has been able to report record income over the years. To maintain the growth momentum, Andes will recruit more R&D talent around the world. Based on a solid foundation, we will expand our portfolio to cover more high added value products and meet the demand for high performance IT solutions and grow with the booming market. “
Looking ahead to the decade ahead, as more international technology companies embrace RISC-V and expand their market and applications, Andes is determined to continue driving RISC-V momentum as a leading vendor. of pure processors IP. Building on years of extensive experience helping customers achieve mass production of diversified products, Andes will support even more RISC-V SoC design teams to introduce new products and its revenue and profit will grow with it. the booming RISC-V market.
About Andes technology
Sixteen years in business and a founding and first member of RISC-V International, Andes is a leading provider of high performance / low power 32/64 bit embedded processor IP solutions, and one of the main drivers of generalization. of RISC-V. Andes’ fifth-generation AndeStar â¢ architecture adopted RISC-V as the basis. Its RISC-V V5 processor families range from tiny 32-bit cores to advanced 64-bit cores with DSP, FPU, Vector, Linux, superscalar and / or multicore capabilities. The annual Andes-Embedded SoC volume has exceeded 2 billion since 2020 and continues to increase. At the end of 2020, the cumulative volume of Andes-Embedded â¢ SoCs reached 7 billion. For more information, please visit https://www.andestech.com. Follow the Andes on LinkedIn, Twitter, Facebook, and Youtube!