Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Mapletree North Asia Commercial Trust / Event-Driven

<ul>
<li>There are currently 44 - mostly firm - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal. </li>
<li>One new deal this week: Morrison &amp; Co's indicative Offer for <a href="https://www.smartkarma.com/entities/uniti-group-ltd" target="_blank" data-smartkarma-citation="entities:29042:1" rel="noopener">Uniti Group (UWL AU)</a>; and <a href="https://www.smartkarma.com/entities/china-mengniu-dairy-co" target="_blank" data-smartkarma-citation="entities:354:1" rel="noopener">China Mengniu Dairy (2319 HK)</a>'s pre-conditional privatisation offer for <a href="https://www.smartkarma.com/entities/yashili-international-holdings-ltd" target="_blank" data-smartkarma-citation="entities:3397:1" rel="noopener">Yashili International Holdings (1230 HK)</a>.</li>
<li>Key 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>, <a href="https://www.smartkarma.com/entities/z-energy-ltd" target="_blank" data-smartkarma-citation="entities:9838:1" rel="noopener">Z Energy Ltd (ZEL NZ)</a>, <a href="https://www.smartkarma.com/entities/mapletree-commercial-trust" target="_blank" data-smartkarma-citation="entities:106:1" rel="noopener">Mapletree Commercial Trust (MCT SP)</a>, <a href="https://www.smartkarma.com/entities/virtus-health-ltd" target="_blank" data-smartkarma-citation="entities:14776:1" rel="noopener">Virtus Health (VRT AU)</a>, and <a href="https://www.smartkarma.com/entities/western-areas-ltd" target="_blank" data-smartkarma-citation="entities:15497:1" rel="noopener">Western Areas (WSA AU)</a>.</li>
</ul>


There are currently 44 - mostly firm - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal. 
One new deal this week: Morrison &amp; Co's indicative Offer for Uniti Group (UWL AU); and China Mengniu Dairy (2319 HK)'s pre-conditional privatisation offer for Yashili International Holdings (1230 HK).
Key updates took place for: Singapore Press Holdings (SPH SP), Z Energy Ltd (ZEL NZ), Mapletree Commercial Trust (MCT SP), Virtus Health (VRT AU), and Western Areas (WSA AU).


Asia-Pac Weekly Risk Arb Summary: Mapletree, Singapore Press, Uniti Group, Yashili, Z Energy, Virtus

<ul>
<li>There are currently 44 - mostly firm - transactions currently being discussed and analysed on Smartkarma</li>
<li>One new deal this week: Surya's Kiran's MTO for <a href="https://www.smartkarma.com/entities/thai-rayon-public-co-ltd" target="_blank" data-smartkarma-citation="entities:20238:1" rel="noopener">Thai Rayon Public Co Ltd (TR TB)</a> </li>
<li>Key updates took place for: <a href="https://www.smartkarma.com/entities/agl-energy-ltd" target="_blank" data-smartkarma-citation="entities:554:1" rel="noopener">AGL Energy Ltd (AGL AU)</a> and <a href="https://www.smartkarma.com/entities/dragon-crown-group-holdings" target="_blank" data-smartkarma-citation="entities:18919:1" rel="noopener">Dragon Crown Group (935 HK)</a>.</li>
</ul>


There are currently 44 - mostly firm - transactions currently being discussed and analysed on Smartkarma
One new deal this week: Surya's Kiran's MTO for Thai Rayon Public Co Ltd (TR TB) 
Key updates took place for: AGL Energy Ltd (AGL AU) and Dragon Crown Group (935 HK).


Asia-Pac Weekly Risk Arb Summary: AGL Energy, Thai Rayon, Dragon Crown

<ul>
<li>There are currently 43 - mostly firm - transactions currently being discussed and analysed on Smartkarma.</li>
<li>Two new deals this week: <a href="https://www.smartkarma.com/entities/far-eastone-telecomm-co-ltd" target="_blank" data-smartkarma-citation="entities:19488:1" rel="noopener">Far Eastone Telecomm (4904 TT)</a> merging with <a href="https://www.smartkarma.com/entities/asia-pacific-telecom-co-ltd" target="_blank" data-smartkarma-citation="entities:19657:1" rel="noopener">Asia Pacific Telecom (3682 TT)</a>; <a href="https://www.smartkarma.com/entities/zip-co-ltd-3708706d-4978-4e29-acbc-d9702b971da9" target="_blank" data-smartkarma-citation="entities:29126:1" rel="noopener">Zip Co Ltd (Z1P AU)</a> merging with <a href="https://www.smartkarma.com/entities/sezzle-inc" target="_blank" data-smartkarma-citation="entities:30969:1" rel="noopener">Sezzle Inc (SZL AU)</a>.</li>
<li>Key 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>, <a href="https://www.smartkarma.com/entities/virtus-health-ltd" target="_blank" data-smartkarma-citation="entities:14776:1" rel="noopener">Virtus Health (VRT AU)</a>, <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 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 (TRUE TB)</a> 
</li>
</ul>


There are currently 43 - mostly firm - transactions currently being discussed and analysed on Smartkarma.
Two new deals this week: Far Eastone Telecomm (4904 TT) merging with Asia Pacific Telecom (3682 TT); Zip Co Ltd (Z1P AU) merging with Sezzle Inc (SZL AU).
Key updates took place for: Singapore Press Holdings (SPH SP), Virtus Health (VRT AU), Crown Resorts (CWN AU), Total Access Communication (DTAC TB) / True Corp (TRUE TB) 



Asia-Pac Weekly Risk Arb Summary: Asia Pacific Telecom, Sezzle, Singapore Press, DTAC/True

<ul>
<li>For the month of February, 12 new deals (firm and non-binding) were discussed on Smartkarma with an overall announced deal size of ~US$16bn.</li>
<li>The average premium for the new deals announced (or first discussed) in February was ~36%.</li>
<li>This compares to the average premium for all deals in 2021 (165 deals), 2020 (158 deals), and 2019 (145 deals) of 33%, 31%, and 31.5% respectively.</li>
</ul>


For the month of February, 12 new deals (firm and non-binding) were discussed on Smartkarma with an overall announced deal size of ~US$16bn.
The average premium for the new deals announced (or first discussed) in February was ~36%.
This compares to the average premium for all deals in 2021 (165 deals), 2020 (158 deals), and 2019 (145 deals) of 33%, 31%, and 31.5% respectively.


<ul>
<li>There are currently 42 - mostly firm - transactions currently being discussed and analysed on Smartkarma.</li>
<li>Two new deals this week: <a href="https://www.smartkarma.com/entities/hochtief-ag" target="_blank" data-smartkarma-citation="entities:21652:1" rel="noopener">Hochtief AG (HOT GR)</a> for <a href="https://www.smartkarma.com/entities/cimic-group-ltd" target="_blank" data-smartkarma-citation="entities:20030:1" rel="noopener">CIMIC Group Ltd (CIM AU)</a>; <a href="https://www.smartkarma.com/entities/brookfield-asset-manage-cl-a-0483cfb5-71a5-4931-af80-901e5f30aace" target="_blank" data-smartkarma-citation="entities:23741:1" rel="noopener">Brookfield Asset Management (BAM US)</a> for <a href="https://www.smartkarma.com/entities/agl-energy-ltd" target="_blank" data-smartkarma-citation="entities:554:1" rel="noopener">AGL Energy Ltd (AGL AU)</a>.</li>
<li>Key updates took place for: <a href="https://www.smartkarma.com/entities/razer-inc" target="_blank" data-smartkarma-citation="entities:24380:1" rel="noopener">Razer (1337 HK)</a>, <a href="https://www.smartkarma.com/entities/apollo-tourism-leisure-ltd" target="_blank" data-smartkarma-citation="entities:24305:1" rel="noopener">Apollo Tourism (ATL AU)</a>, <a href="https://www.smartkarma.com/entities/aventus-group" target="_blank" data-smartkarma-citation="entities:25897:1" rel="noopener">Aventus (AVN AU)</a>, <a href="https://www.smartkarma.com/entities/z-energy-ltd" target="_blank" data-smartkarma-citation="entities:9838:1" rel="noopener">Z Energy (ZEL NZ)</a>, <a href="https://www.smartkarma.com/entities/g-j-steel-pcl" target="_blank" data-smartkarma-citation="entities:14759:1" rel="noopener">G J Steel (GJS TB)</a>, and <a href="https://www.smartkarma.com/entities/mapletree-north-asia-commercial-trust" target="_blank" data-smartkarma-citation="entities:5127:1" rel="noopener">Mapletree North Asia Commercial (MAGIC SP)</a>.</li>
</ul>


There are currently 42 - mostly firm - transactions currently being discussed and analysed on Smartkarma.
Two new deals this week: Hochtief AG (HOT GR) for CIMIC Group Ltd (CIM AU); Brookfield Asset Management (BAM US) for AGL Energy Ltd (AGL AU).
Key updates took place for: Razer (1337 HK), Apollo Tourism (ATL AU), Aventus (AVN AU), Z Energy (ZEL NZ), G J Steel (GJS TB), and Mapletree North Asia Commercial (MAGIC SP).


Asia-Pac Weekly Risk Arb Summary: CIMIC, AGL, Razer, Z Energy, G J Steel, Mapletree North Asia

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)

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Asia-Pac Weekly Risk Arb Summary: Asia Pacific Telecom, Sezzle, Singapore Press, DTAC/True

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(Mostly) Asia M&A: February 2022 Roundup

For the month of February, 12 new deals were discussed on Smartkarma with an overall announced deal size of ~US$16bn. The average premium for the...

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Asia-Pac Weekly Risk Arb Summary: CIMIC, AGL, Razer, Z Energy, G J Steel, Mapletree North Asia

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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