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Sondrel and Ensilica - Non-identical twins

January 2023

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • SND
  • Price:
  • 61p
2022 produced a remarkable sequence of new issues that failed to take off. Of 15 new issues, 10 struggled to hold their IPO prices. One SCSW had alighted on, Facilities by ADF (ADF; 53p), was the fourth best performer and coincidentally, just as the year was about to close, I had made arrangements to speak to Sondrel (SND; 61p) and Ensilica (ENSI; 90.5p),  two of the other four to end up on the year. Both businesses, as it turned out, are remarkably similar. Both have historically been outsourced designers of microchips for special applications - ASICs (application-specific integrated circuits). A scarcity of engineering staff and the high fixed costs of staff that may only be infrequently used means many firms turn to specialist ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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