Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>There are currently 45  - mostly firm - transactions currently being discussed and analysed on Smartkarma.</li>
<li>One new deal this week: <a href="https://www.smartkarma.com/entities/aeon-co-ltd" target="_blank" data-smartkarma-citation="entities:3:1" rel="noopener">Aeon (8267 JP)</a>-controlled supermarket companies <a href="https://www.smartkarma.com/entities/fuji-co-ltd-ehime" target="_blank" data-smartkarma-citation="entities:11419:1" rel="noopener">Fuji (8278 JP)</a> and <a href="https://www.smartkarma.com/entities/maxvalu-nishinihon-co-ltd" target="_blank" data-smartkarma-citation="entities:13743:1" rel="noopener">Maxvalu Nishinihon (8287 JP)</a> announced the Exchange Ratio for the first stage of their integration process.</li>
<li>Keys updates took place for: <a href="https://www.smartkarma.com/entities/shinsei-bank-ltd" target="_blank" data-smartkarma-citation="entities:16897:1" rel="noopener">Shinsei Bank (8303 JP)</a>, <a href="https://www.smartkarma.com/entities/sydney-airport" target="_blank" data-smartkarma-citation="entities:19063:1" rel="noopener">Sydney Airport (SYD AU)</a>, <a href="https://www.smartkarma.com/entities/kansai-super-market-ltd" target="_blank" data-smartkarma-citation="entities:15519:1" rel="noopener">Kansai Super Market (9919 JP)</a>, and <a href="https://www.smartkarma.com/entities/shanghai-jin-jiang-capital-company-limited" target="_blank" data-smartkarma-citation="entities:15781:1" rel="noopener">Shanghai Jin Jiang Capital Company Limited (2006 HK)</a>.</li>
</ul>


There are currently 45  - mostly firm - transactions currently being discussed and analysed on Smartkarma.
One new deal this week: Aeon (8267 JP)-controlled supermarket companies Fuji (8278 JP) and Maxvalu Nishinihon (8287 JP) announced the Exchange Ratio for the first stage of their integration process.
Keys updates took place for: Shinsei Bank (8303 JP), Sydney Airport (SYD AU), Kansai Super Market (9919 JP), and Shanghai Jin Jiang Capital Company Limited (2006 HK).


Asia-Pac Weekly Risk Arb Summary: Shinsei Bank, Sydney Airports, Kansi Super, Shanghai Jin Jiang

<ul>
<li>There are currently 47  - mostly firm - transactions currently being discussed and analysed on Smartkarma.</li>
<li>Three new deals this week: <a href="https://www.smartkarma.com/entities/razer-inc" target="_blank" data-smartkarma-citation="entities:24380:1" rel="noopener">Razer Inc (1337 HK)</a>'s Scheme Offer; and <a href="https://www.smartkarma.com/entities/shin-keisei-electric-railway" target="_blank" data-smartkarma-citation="entities:6262:1" rel="noopener">Shin Keisei Electric (9014 JP)</a> cleaning up two of its subsidiaries, </li>
<li>Keys updates took place for: <a href="https://www.smartkarma.com/entities/australian-pharmaceutical-industries-limited" target="_blank" data-smartkarma-citation="entities:19399:1" rel="noopener">Australian Pharmaceutical Industries (API AU)</a>, <a href="https://www.smartkarma.com/entities/hitachi-metals-ltd" target="_blank" data-smartkarma-citation="entities:8561:1" rel="noopener">Hitachi Metals (5486 JP)</a>, and <a href="https://www.smartkarma.com/entities/golden-throat-holdings-group" target="_blank" data-smartkarma-citation="entities:22664:1" rel="noopener">Golden Throat Holdings (6896 HK)</a>.</li>
</ul>


There are currently 47  - mostly firm - transactions currently being discussed and analysed on Smartkarma.
Three new deals this week: Razer Inc (1337 HK)'s Scheme Offer; and Shin Keisei Electric (9014 JP) cleaning up two of its subsidiaries, 
Keys updates took place for: Australian Pharmaceutical Industries (API AU), Hitachi Metals (5486 JP), and Golden Throat Holdings (6896 HK).


Asia-Pac Weekly Risk Arb Summary: Razer, Daibiru, Utoc, Aussie Pharma, Hitachi Metals, Golden Throat

<ul>
<li>For the month of November, 14 new deals (firm and non-binding) were discussed on Smartkarma with an overall announced deal size of ~US$20bn.</li>
<li>The average premium for the new deals announced (or first discussed) in November was ~34%, with a year-to-date average of ~32% (153 deals &amp; total deal size of US$278bn).</li>
<li>This compares to the average premium for all deals in 2020 (158 deals) and 2019 (145 deals) of 31% and 31.5% respectively.</li>
</ul>


For the month of November, 14 new deals (firm and non-binding) were discussed on Smartkarma with an overall announced deal size of ~US$20bn.
The average premium for the new deals announced (or first discussed) in November was ~34%, with a year-to-date average of ~32% (153 deals &amp; total deal size of US$278bn).
This compares to the average premium for all deals in 2020 (158 deals) and 2019 (145 deals) of 31% and 31.5% respectively.


<ul>
<li>There are currently 46  - mostly firm - transactions currently being discussed and analysed on Smartkarma. </li>
<li>Two new deals this week: the <a href="https://www.smartkarma.com/entities/total-access-communication" target="_blank" data-smartkarma-citation="entities:948:1" rel="noopener">Total Access Communication (DTAC TB)</a> / <a href="https://www.smartkarma.com/entities/true-corp-pcl" target="_blank" data-smartkarma-citation="entities:8:1" rel="noopener">True Corp Pcl (TRUE TB)</a> merger; and the pre-conditional Offer for <a href="https://www.smartkarma.com/entities/shanghai-jin-jiang-capital-company-limited" target="_blank" data-smartkarma-citation="entities:15781:1" rel="noopener">Shanghai Jin Jiang Capital Company (2006 HK)</a>.</li>
<li>Keys updates took place for: <a href="https://www.smartkarma.com/entities/shinsei-bank-ltd" target="_blank" data-smartkarma-citation="entities:16897:1" rel="noopener">Shinsei Bank (8303 JP)</a>, <a href="https://www.smartkarma.com/entities/chinese-estates-holdings-limited" target="_blank" data-smartkarma-citation="entities:20954:1" rel="noopener">Chinese Estates Holdings (127 HK)</a>, and <a href="https://www.smartkarma.com/entities/cp-pokphand-co-ltd" target="_blank" data-smartkarma-citation="entities:10135:1" rel="noopener">Cp Pokphand (43 HK)</a>.</li>
</ul>


There are currently 46  - mostly firm - transactions currently being discussed and analysed on Smartkarma. 
Two new deals this week: the Total Access Communication (DTAC TB) / True Corp Pcl (TRUE TB) merger; and the pre-conditional Offer for Shanghai Jin Jiang Capital Company (2006 HK).
Keys updates took place for: Shinsei Bank (8303 JP), Chinese Estates Holdings (127 HK), and Cp Pokphand (43 HK).


Asia-Pac Weekly Risk Arb Summary: Shanghai Jin Jiang, Shinsei Bank, Chinese Estates, CP Pokphand

<ul>
<li>There are currently 46  - mostly firm - transactions currently being discussed and analysed on Smartkarma. </li>
<li>One new deal this week: Blackstone and affiliates are offering shareholders of <a href="https://www.smartkarma.com/entities/crown-resorts-ltd" target="_blank" data-smartkarma-citation="entities:808:1" rel="noopener">Crown Resorts (CWN AU)</a> A$12.50/share in cash, a 26.2% premium to last close.</li>
<li>Keys updates took place for: <a href="https://www.smartkarma.com/entities/singapore-press-holdings-limited" target="_blank" data-smartkarma-citation="entities:9952:1" rel="noopener">Singapore Press Holdings (SPH SP)</a> and <a href="https://www.smartkarma.com/entities/shinsei-bank-ltd" target="_blank" data-smartkarma-citation="entities:16897:1" rel="noopener">Shinsei Bank (8303 JP)</a>.</li>
</ul>


There are currently 46  - mostly firm - transactions currently being discussed and analysed on Smartkarma. 
One new deal this week: Blackstone and affiliates are offering shareholders of Crown Resorts (CWN AU) A$12.50/share in cash, a 26.2% premium to last close.
Keys updates took place for: Singapore Press Holdings (SPH SP) and Shinsei Bank (8303 JP).


Asia-Pac Weekly Risk Arb Summary:  Crown Resorts, Singapore Press, Shinsei Bank

China

Suchuang Gas Corporation Limited sells and transmits piped natural gas to users operating in the Taicang, Jiangsu Province area of the People's Republic of China.

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Suchuang Gas Corp (1430 HK)

Asia-Pac Weekly Risk Arb Summary: Shinsei Bank, Sydney Airports, Kansi Super, Shanghai Jin Jiang

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

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Asia-Pac Weekly Risk Arb Summary: Razer, Daibiru, Utoc, Aussie Pharma, Hitachi Metals, Golden Throat

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David Blennerhassett

(Mostly) Asia M&A: November 2021 Roundup

In November, 14 new deals were discussed on Smartkarma with an announced deal size of ~US$20bn. The average premium for the new deals announced was...

David Blennerhassett

Asia-Pac Weekly Risk Arb Summary: Shanghai Jin Jiang, Shinsei Bank, Chinese Estates, CP Pokphand

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

Asia-Pac Weekly Risk Arb Summary: Crown Resorts, Singapore Press, Shinsei Bank

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

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