Event-Driven Investment Opportunities, Special Situation Investments

Dalius Tauraitis

Event-Driven Investment Opportunities

Special Situation Investments

Focus on event-driven trades and low risk arbitrage opportunities with short term catalysts

Event-Driven

D-MARKET Elektronik Hizmetler ve Ticaret Anonim Sirketi / Event-Driven

D-MARKET Elektronik Hizmetler ve Ticaret Anonim Sirketi (Hepsiburada) operates as an online e-commerce company. The Company offers electronic, fashion, home living, stationery, sports, outdoor, cosmetics, and personal care products. Hepsiburada serves customers in Turkey.

D-MARKET Elektronik Hizmetler ve Ticaret Anonim Sirketi (HEPS US)

D-MARKET Elektronik Hizmetler ve Ticaret Anonim Sirketi

<ul><li>D-Market's controlling stake is being sold to Kaspi, acquiring Class A shares at $7.57 and Class B at $4.75.</li><li>Turkish law mandates a takeover offer for minority shares, but HEPS's ADR structure exempts it from this requirement.</li><li>Activism efforts aim to increase HEPS's shareholders to 500, potentially forcing Kaspi to include minority shareholders.</li></ul>

D-Market's controlling stake is being sold to Kaspi, acquiring Class A shares at $7.57 and Class B at $4.75.Turkish law mandates a takeover offer for minority shares, but HEPS's ADR structure exempts it from this requirement.Activism efforts aim to increase HEPS's shareholders to 500, potentially forcing Kaspi to include minority shareholders.

Analyzing the Regulatory Loophole in Kaspi's Acquisition of D-Market's Controlling Stake and Potential Outcomes

<ul><li>D-Market Electronic Services &amp; Trading's (HEPS) controlling stake is being sold to Kaspi, exploiting a regulatory loophole to avoid a mandatory takeover offer.</li><li>Aker Carbon Capture (ACC:OL) sold its business, leaving a cash shell trading at a 20% discount to net cash.</li><li>Ambase (ABCP) is litigating over an Equity Put Right, with summary judgment motions scheduled, potentially impacting share price.</li></ul>

D-Market Electronic Services &amp; Trading's (HEPS) controlling stake is being sold to Kaspi, exploiting a regulatory loophole to avoid a mandatory takeover offer.Aker Carbon Capture (ACC:OL) sold its business, leaving a cash shell trading at a 20% discount to net cash.Ambase (ABCP) is litigating over an Equity Put Right, with summary judgment motions scheduled, potentially impacting share price.

Strategic Transactions and Legal Developments: HEPS, ACC:OL, ABCP, BELFB, NWOR:L, EMBRAC, AVAP:L

Quantitative Researcher, MRM Research

Nico Rosti

Quantitative Researcher

MRM Research

Quantitative Research

Korea Stock Exchange KOSPI 200 / Event-Driven

The KOSPI 200 Index is a capitalization-weighted index of 200 Korean stocks which make up 93% of the total market value of the Korea Stock Exchange. The index was developed with a base value of 100 as of January 3, 1990.

Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX EQUITY)

<ul>
<li>
As the year comes to its end, the trading calendar is impacted by two shortened weeks, with the Christmas holiday and New Year’s Day both falling midweek.</li>
<li>Holidays market trends can be affected by various non-market factors but it's always good to check the indexes probability of trend reversals, to avoid surprises.
</li>
<li>In this insight, we’ll take a quick look at the major Asia-Pacific market indices—a 'Christmas Carousel of Odds' for Asian markets, if you will.</li>
</ul>



As the year comes to its end, the trading calendar is impacted by two shortened weeks, with the Christmas holiday and New Year’s Day both falling midweek.
Holidays market trends can be affected by various non-market factors but it's always good to check the indexes probability of trend reversals, to avoid surprises.

In this insight, we’ll take a quick look at the major Asia-Pacific market indices—a 'Christmas Carousel of Odds' for Asian markets, if you will.


HSI, Nikkei 225, NIFTY 50, Kospi 200, ASX 200, CSI 300: Year-End Trends and Holiday Market Moves!

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Hyundai Motor Company manufactures, sells, and exports passenger cars, trucks, and commercial vehicles. The Company also sells various auto parts and operates auto repair service centers throughout South Korea. Hyundai Motor provides financial services through its subsidiaries.

<ul>
<li>A potential merger between Nissan Motor and Honda Motor would create the third largest auto group in the world.</li>
<li>If this merger is successful, it could have a short term positive impact on Hyundai Motor since it could result in a reduction of overlapping sales/marketing and production of Nissan.</li>
<li>However, a merger of Honda and Nissan could negatively impact Hyundai Motor over the long term because the merged entity could produce more high quality, price competitive vehicles.</li>
</ul>


A potential merger between Nissan Motor and Honda Motor would create the third largest auto group in the world.
If this merger is successful, it could have a short term positive impact on Hyundai Motor since it could result in a reduction of overlapping sales/marketing and production of Nissan.
However, a merger of Honda and Nissan could negatively impact Hyundai Motor over the long term because the merged entity could produce more high quality, price competitive vehicles.


A Potential Merger Between Honda and Nissan - Impact on Hyundai Motor and Kia Corp

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Great Wall Motor Company Limited, through its subsidiaries, manufactures and sells pick-up trucks and sport-utility vehicles (SUVs) in China under branded names. The Company also researches and develops, and manufactures principal automotive parts and components for use in the assembly of pick-up trucks and SUVs.

<ul>
<li>AH Premia are all over the place this week. Despite that, pairwise intracorrelation is.... up? Yup. Average Pairwise Volatility is up even more.</li>
<li>Some of this may be stocks being bullied by large SOUTHBOUND flows in a quieter end-of-year market. </li>
<li>Finance is seeing big net SOUTHBOUND buying but that is not showing up in A/H premia. I expect things stay noisy through year-end.</li>
</ul>


AH Premia are all over the place this week. Despite that, pairwise intracorrelation is.... up? Yup. Average Pairwise Volatility is up even more.
Some of this may be stocks being bullied by large SOUTHBOUND flows in a quieter end-of-year market. 
Finance is seeing big net SOUTHBOUND buying but that is not showing up in A/H premia. I expect things stay noisy through year-end.


A/H Premium Tracker (To 20 Dec 2024): Pairwise Intracorrelation and Vol Even Higher

Insights in the Consumer Discretionary Space

Consumer Discretionary
Insights in the Consumer Discretionary Space

Analyzing the Regulatory Loophole in Kaspi's Acquisition of D-Market's Controlling Stake and Potential Outcomes

D-Market's controlling stake is being sold to Kaspi, acquiring Class A shares at $7.57 and Class B at $4.75.

Special Situation Investments

Strategic Transactions and Legal Developments: HEPS, ACC:OL, ABCP, BELFB, NWOR:L, EMBRAC, AVAP:L

D-Market Electronic Services & Trading's (HEPS) controlling stake is being sold to Kaspi, exploiting a regulatory loophole to avoid a mandatory...

Special Situation Investments

HSI, Nikkei 225, NIFTY 50, Kospi 200, ASX 200, CSI 300: Year-End Trends and Holiday Market Moves!

Trading calendar has 2 upcoming shortened weeks, this insight is offer analysis of the major Asia/Pacific indices to highlight potential sudden...

Nico Rosti

A Potential Merger Between Honda and Nissan - Impact on Hyundai Motor and Kia Corp

In this insight, we discuss the impact of a potential merger between Nissan Motor and Honda Motor which would create one of the largest auto groups...

Douglas Kim

A/H Premium Tracker (To 20 Dec 2024): Pairwise Intracorrelation and Vol Even Higher

AH Premia are noisy as the year winds down. Premia rose slightly this week, especially for the narrowest group. Some of this looks like profit...

Travis Lundy

Analyzing the Regulatory Loophole in Kaspi's Acquisition of D-Market's Controlling Stake and Potential Outcomes

D-Market's controlling stake is being sold to Kaspi, acquiring Class A shares at $7.57 and Class B at $4.75.

Special Situation Investments

Strategic Transactions and Legal Developments: HEPS, ACC:OL, ABCP, BELFB, NWOR:L, EMBRAC, AVAP:L

D-Market Electronic Services & Trading's (HEPS) controlling stake is being sold to Kaspi, exploiting a regulatory loophole to avoid a mandatory...

Special Situation Investments

HSI, Nikkei 225, NIFTY 50, Kospi 200, ASX 200, CSI 300: Year-End Trends and Holiday Market Moves!

​Trading calendar has 2 upcoming shortened weeks, this insight is offer analysis of the major Asia/Pacific indices to highlight potential sudden...

Nico Rosti

A Potential Merger Between Honda and Nissan - Impact on Hyundai Motor and Kia Corp

In this insight, we discuss the impact of a potential merger between Nissan Motor and Honda Motor which would create one of the largest auto groups...

Douglas Kim

A/H Premium Tracker (To 20 Dec 2024): Pairwise Intracorrelation and Vol Even Higher

AH Premia are noisy as the year winds down. Premia rose slightly this week, especially for the narrowest group. Some of this looks like profit...

Travis Lundy

Trading calendar has 2 upcoming shortened weeks, this insight is offer analysis of the major Asia/Pacific indices to highlight potential sudden...