Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Cashed-Up <a href="https://www.smartkarma.com/entities/jardine-matheson-holdings-ltd" target="_blank" data-smartkarma-citation="entities:19718" rel="noopener">Jardine Matheson Holdings (JM SP)</a> doubles its buyback program. Separately, the appraisal rights proceedings for dissenting shareholders of <a href="https://www.smartkarma.com/entities/jardine-strategic-holdings-ltd" target="_blank" data-smartkarma-citation="entities:15081" rel="noopener">Jardine Strategic (JS SP)</a> are now underway in Bermuda's Supreme Court. </li>
<li>The PBOC, CBIRC, and CSRC appear to have thrown <a href="https://www.smartkarma.com/entities/china-evergrande-group" target="_blank" data-smartkarma-citation="entities:479:1" rel="noopener">Evergrande (3333 HK)</a> management under the bus with simultaneous statements that Evergrande's case is an individual one due to "reckless expansion."</li>
<li>The ACCC approval, a key condition to the <a href="https://www.smartkarma.com/entities/sydney-airport" target="_blank" data-smartkarma-citation="entities:19063" rel="noopener">Sydney Airport (SYD AU)</a> proposal completing, has been obtained.</li>
</ul>


Cashed-Up Jardine Matheson Holdings (JM SP) doubles its buyback program. Separately, the appraisal rights proceedings for dissenting shareholders of Jardine Strategic (JS SP) are now underway in Bermuda's Supreme Court. 
The PBOC, CBIRC, and CSRC appear to have thrown Evergrande (3333 HK) management under the bus with simultaneous statements that Evergrande's case is an individual one due to "reckless expansion."
The ACCC approval, a key condition to the Sydney Airport (SYD AU) proposal completing, has been obtained.


Last Week in Event SPACE: Jardine Matheson, Evergrande, Sydney Airports, Shinsei Bank, Kansai Super

<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>The Independent Consumer and Competition Commission of Papua New Guinea has approved the <a href="https://www.smartkarma.com/entities/santos-ltd" target="_blank" data-smartkarma-citation="entities:711:1" rel="noopener">Santos Ltd (STO AU)</a> / <a href="https://www.smartkarma.com/entities/oil-search-ltd" target="_blank" data-smartkarma-citation="entities:773:1" rel="noopener">Oil Search Ltd (OSH AU)</a> merger. This was the key regulatory condition.</li>
<li>This approval follows the approval of the Scheme by OSH shareholders on the 7 December. </li>
<li>This deal is done. Shares will be suspended at the close of trading tomorrow (the 10 December). </li>
</ul>


The Independent Consumer and Competition Commission of Papua New Guinea has approved the Santos Ltd (STO AU) / Oil Search Ltd (OSH AU) merger. This was the key regulatory condition.
This approval follows the approval of the Scheme by OSH shareholders on the 7 December. 
This deal is done. Shares will be suspended at the close of trading tomorrow (the 10 December). 


Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

<ul>
<li>At the December rebalance, there will be one change for the ASX100 while there will be five changes to the <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200 (AS51 INDEX)</a>. All changes were expected.</li>
<li>Nearly all inclusions and exclusions have over 2 days of ADV to trade and that increases significantly on some stocks. The volatility on the inclusions has been extremely high.</li>
<li>There could be another change announced in the coming week depending on results of the <a href="https://www.smartkarma.com/entities/oil-search-ltd" target="_blank" data-smartkarma-citation="entities:773:1" rel="noopener">Oil Search Ltd (OSH AU)</a> Scheme Meeting for the merger with <a href="https://www.smartkarma.com/entities/santos-ltd" target="_blank" data-smartkarma-citation="entities:711:1" rel="noopener">Santos Ltd (STO AU)</a>.</li>
</ul>


At the December rebalance, there will be one change for the ASX100 while there will be five changes to the S&amp;P/ASX 200 (AS51 INDEX). All changes were expected.
Nearly all inclusions and exclusions have over 2 days of ADV to trade and that increases significantly on some stocks. The volatility on the inclusions has been extremely high.
There could be another change announced in the coming week depending on results of the Oil Search Ltd (OSH AU) Scheme Meeting for the merger with Santos Ltd (STO AU).


ASX100/​200 Dec21 Index Rebalance: Kangaroos Loose in the Top Paddock

<ul>
<li>The review period for the December review ended on 19 November. The announcement of changes will take place on 3 December with implementation at the close on 17 December.</li>
<li>There could be two changes to the ASX100 and <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200 (AS51 INDEX)</a> prior to the regular rebalance if Spark Infrastructure and Oil Search are delisted.</li>
<li>Then there could be another change to the S&amp;P/ASX100 and up to five changes to the <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200 (AS51 INDEX)</a> at the regular review. Some impacts are large.</li>
</ul>


The review period for the December review ended on 19 November. The announcement of changes will take place on 3 December with implementation at the close on 17 December.
There could be two changes to the ASX100 and S&amp;P/ASX 200 (AS51 INDEX) prior to the regular rebalance if Spark Infrastructure and Oil Search are delisted.
Then there could be another change to the S&amp;P/ASX100 and up to five changes to the S&amp;P/ASX 200 (AS51 INDEX) at the regular review. Some impacts are large.


ASX100/200 Index Rebalance Preview: Permutations and Combinations as M&A Activity Booms

Australia

Santos Limited explores for and produces natural gas, crude oil, condensate, naphtha and liquid petroleum gas.  The Company conducts major onshore and offshore petroleum exploration activities at oil and gas fields in Australia (Cooper/Eromanga Basins), the United States (Gulf of Mexico), Indonesia and Papua New Guinea. The Company also transports crude oil by pipeline.

Price Gauge
52-week Range	0.00 - 0.00
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Dividend (Yield)	0.00

Santos Ltd (STO AU)

Last Week in Event SPACE: Jardine Matheson, Evergrande, Sydney Airports, Shinsei Bank, Kansai Super

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

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...

David Blennerhassett

Oil Search (OSH AU): And That's A Wrap

Trading super tight at a gross/annualised spread of 0.2%/7.5%. This is a done deal, but given the low spread, I'd recommend investors avoid the...

David Blennerhassett

ASX100/200 Dec21 Index Rebalance: Kangaroos Loose in the Top Paddock

There is 1 change to the ASX100 and 5 changes to the ASX200 index. The adds have outperformed the deletes over the year and are trading at...

Brian Freitas

ASX100/200 Index Rebalance Preview: Permutations and Combinations as M&A Activity Booms

This is going to be a busy rebalance for the ASX100 & ASX200 indices with M&A driven changes followed by changes at the regular review. There is a...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Last Week in Event SPACE: Jardine Matheson, Evergrande, Sydney Airports, Shinsei Bank, Kansai Super

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

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...

David Blennerhassett

Oil Search (OSH AU): And That's A Wrap

Trading super tight at a gross/annualised spread of 0.2%/7.5%. This is a done deal, but given the low spread, I'd recommend investors avoid the...

David Blennerhassett

ASX100/​200 Dec21 Index Rebalance: Kangaroos Loose in the Top Paddock

There is 1 change to the ASX100 and 5 changes to the ASX200 index. The adds have outperformed the deletes over the year and are trading at...

Brian Freitas

ASX100/200 Index Rebalance Preview: Permutations and Combinations as M&A Activity Booms

This is going to be a busy rebalance for the ASX100 & ASX200 indices with M&A driven changes followed by changes at the regular review. There is a...

Brian Freitas

ASX100/200 Dec21 Index Rebalance: Kangaroos Loose in the Top Paddock