The French Government wish to attract the smartest brains in the world. They give WBT a rebate of 130% of wages for year 1 & 2 uni graduates.
65% of R&D is paid by the French Government. Leti is like Australia's CSIRO.
The value of this association with Leti and the helping hand of the French Government is undervalued by the market I believe.
There are no strings attached that I know, Australia has a similar R%D tax rebate, though far less generous. From memory 45% in the form of a tax return for R&D.
Ann: Q2FY19 Activities Update and Appendix 4C, page-20
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