Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>There are 40 - 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: <a href="https://www.smartkarma.com/entities/infroneer-holdings-inc" target="_blank" data-smartkarma-citation="entities:35785:1" rel="noopener">INFRONEER Holdings (5076 JP)</a> taking over the rest of a boring, old construction company <a href="https://www.smartkarma.com/entities/toyo-construction-co-ltd" target="_blank" data-smartkarma-citation="entities:1176:1" rel="noopener">Toyo Construction (1890 JP)</a>.</li>
<li>Key updates took place for: <a href="https://www.smartkarma.com/entities/link-administration-holdings-ltd" target="_blank" data-smartkarma-citation="entities:970:1" rel="noopener">Link (LNK AU)</a>, <a href="https://www.smartkarma.com/entities/uniti-group-ltd" target="_blank" data-smartkarma-citation="entities:29042:1" rel="noopener">Uniti  (UWL AU)</a>, <a href="https://www.smartkarma.com/entities/mapletree-commercial-trust" target="_blank" data-smartkarma-citation="entities:106:1" rel="noopener">Mapletree Commercial (MCT SP)</a> /<a href="https://www.smartkarma.com/entities/mapletree-north-asia-commercial-trust" target="_blank" data-smartkarma-citation="entities:5127:1" rel="noopener">Mapletree North (MAGIC SP)</a>, <a href="https://www.smartkarma.com/entities/singapore-press-holdings-limited" target="_blank" data-smartkarma-citation="entities:9952:1" rel="noopener">Singapore Press (SPH SP)</a>, <a href="https://www.smartkarma.com/entities/total-access-communication" target="_blank" data-smartkarma-citation="entities:948:1" rel="noopener"> DTAC TB</a> / <a href="https://www.smartkarma.com/entities/true-corp-pcl" target="_blank" data-smartkarma-citation="entities:8:1" rel="noopener">TRUE TB</a>
</li>
</ul>


There are 40 - 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: INFRONEER Holdings (5076 JP) taking over the rest of a boring, old construction company Toyo Construction (1890 JP).
Key updates took place for: Link (LNK AU), Uniti  (UWL AU), Mapletree Commercial (MCT SP) /Mapletree North (MAGIC SP), Singapore Press (SPH SP),  DTAC TB / TRUE TB



Asia-Pac Weekly Risk Arb Wrap: Link Admin, Uniti, Mapletree, Singapore Press, DTAC/TRUE

Travis Lundy

<ul>
<li>Topday, <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> shareholders met in an EGM and a Scheme Meeting to approve the takeover of SPH and distribution of <a href="https://www.smartkarma.com/entities/sph-reit" target="_blank" data-smartkarma-citation="entities:5994:1" rel="noopener">SPH REIT (SPHREIT SP)</a> units.</li>
<li>Shareholders passed resolutions at both meetings, meaning the Cuscaden Peak Pte acquisition is approved. </li>
<li>This means we move to next steps, which is choosing the Consideration, and possible MGO Chain Offer on <a href="https://www.smartkarma.com/entities/sph-reit" target="_blank" data-smartkarma-citation="entities:5994:1" rel="noopener">SPH REIT (SPHREIT SP)</a>. </li>
</ul>


Topday, Singapore Press Holdings (SPH SP) shareholders met in an EGM and a Scheme Meeting to approve the takeover of SPH and distribution of SPH REIT (SPHREIT SP) units.
Shareholders passed resolutions at both meetings, meaning the Cuscaden Peak Pte acquisition is approved. 
This means we move to next steps, which is choosing the Consideration, and possible MGO Chain Offer on SPH REIT (SPHREIT SP). 


SPH Shareholders Agree to SPH EGM & DIS - Deal Done So Now It's Arb+Option

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Yashili International Holdings / Event-Driven

<ul>
<li>We summarise the latest spreads and newsflow of merger arb situations covered by us across Hong Kong, Australia, New Zealand, Singapore and the US (Chinese ADRs only). </li>
<li>This week, the highest gross spreads are <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>, <a href="https://www.smartkarma.com/entities/razer-inc" target="_blank" data-smartkarma-citation="entities:24380:1" rel="noopener">Razer Inc (1337 HK)</a>, <a href="https://www.smartkarma.com/entities/51-job-inc-adr" target="_blank" data-smartkarma-citation="entities:532:1" rel="noopener">51 Job Inc Adr (JOBS US)</a>, <a href="https://www.smartkarma.com/entities/uniti-group-ltd" target="_blank" data-smartkarma-citation="entities:29042:1" rel="noopener">Uniti Group Ltd (UWL AU)</a>
</li>
<li>The lowest gross spreads are <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/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/china-logistics-property-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:22799:1" rel="noopener">China Logistics Property Holdings (1589 HK)</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/singapore-press-holdings-limited" target="_blank" data-smartkarma-citation="entities:9952:1" rel="noopener">Singapore Press Holdings (SPH SP)</a> </li>
</ul>


We summarise the latest spreads and newsflow of merger arb situations covered by us across Hong Kong, Australia, New Zealand, Singapore and the US (Chinese ADRs only). 
This week, the highest gross spreads are Yashili International Holdings (1230 HK), Razer Inc (1337 HK), 51 Job Inc Adr (JOBS US), Uniti Group Ltd (UWL AU)

The lowest gross spreads are CIMIC Group Ltd (CIM AU), Virtus Health (VRT AU), China Logistics Property Holdings (1589 HK), Z Energy Ltd (ZEL NZ), Singapore Press Holdings (SPH SP) 


Merger Arb Mondays - Yashili, Razer, 51Job, Uniti, Link, Sezzle, Guodian

<ul>
<li>
<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>'s comments and answers about the SPH REIT Chain Offer may be misleading. </li>
<li>
<a href="https://www.smartkarma.com/entities/china-mengniu-dairy-co" target="_blank" data-smartkarma-citation="entities:354:1" rel="noopener">China Mengniu (2319 HK)</a> is in discussions regarding its holdings in <a href="https://www.smartkarma.com/entities/yashili-international-holdings-ltd" target="_blank" data-smartkarma-citation="entities:3397:1" rel="noopener">Yashili (1230 HK)</a> which may result in a number of "Potential Transactions", and may include a pre-conditional privatisation offer.</li>
<li>
<a href="https://www.smartkarma.com/entities/wh-group-ltd" target="_blank" data-smartkarma-citation="entities:13200:1" rel="noopener">WH Group (288 HK)</a> is two businesses - a US pork processor and a Chinese one - and both businesses are suffering lower margins than they'd like.</li>
</ul>



Singapore Press Holdings (SPH SP)'s comments and answers about the SPH REIT Chain Offer may be misleading. 

China Mengniu (2319 HK) is in discussions regarding its holdings in Yashili (1230 HK) which may result in a number of "Potential Transactions", and may include a pre-conditional privatisation offer.

WH Group (288 HK) is two businesses - a US pork processor and a Chinese one - and both businesses are suffering lower margins than they'd like.


Last Week in Event SPACE: Singapore Press, Yashili, WH Group, Uniti Group, Toshiba, China Conch

<ul>
<li>
<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> has released a set of Q&amp;A for holders as we approach the 22 March EGM/Scheme Meeting.</li>
<li>Approval of both resolutions/votes is necessary to effect the Cuscaden Peak deal.</li>
<li>The comments and answer about the SPH REIT Chain Offer may be misleading. Take care of the details!</li>
</ul>



Singapore Press Holdings (SPH SP) has released a set of Q&amp;A for holders as we approach the 22 March EGM/Scheme Meeting.
Approval of both resolutions/votes is necessary to effect the Cuscaden Peak deal.
The comments and answer about the SPH REIT Chain Offer may be misleading. Take care of the details!


SPH Releases EGM/Scheme "Substantial & Relevant Questions" - Beware Chain Offer Comments

Singapore

Singapore Press Holdings Limited publishes, prints, and distributes newspapers and magazines. The Company also invests in properties, provides multimedia, broadcasting, and telecommunications services, manages shopping centers and other commercial properties, and operates Internet portal site.

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Singapore Press Holdings (SPH SP)

Asia-Pac Weekly Risk Arb Wrap: Link Admin, Uniti, Mapletree, Singapore Press, DTAC/TRUE

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

SPH Shareholders Agree to SPH EGM & DIS - Deal Done So Now It's Arb+Option

SPH shareholders have agreed to the Cuscaden deal. There is now the choice of consideration which provides a 5-week slightly OTM option on SPHREIT...

Travis Lundy

Merger Arb Mondays - Yashili, Razer, 51Job, Uniti, Link, Sezzle, Guodian

This week, the highest gross spreads are Yashili (41.2%), Razer (19.2%), 51 Job (16.0%), Uniti Group (9.8%), Link (8.6%), Sezzle (7.0%), Guodian...

Arun George

Last Week in Event SPACE: Singapore Press, Yashili, WH Group, Uniti Group, Toshiba, China Conch

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

SPH Releases EGM/Scheme "Substantial & Relevant Questions" - Beware Chain Offer Comments

SPH Scheme and EGM Meetings will take place on 22 March. This deal is likely to get done. But the Q&A out today may be misleading. Be careful about...

Travis Lundy

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