Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>For the month of May, 8 new deals (firm and non-binding) were discussed on Smartkarma with an overall announced deal size of ~US$15bn.</li>
<li>The average premium for the new deals announced (or first discussed) in May was 32%.</li>
<li>This compares to the average premium for all deals in 2022 (106 deals), 2021 (165 deals), 2020 (158 deals), and 2019 (145 deals) of 41%, 33%, 31%, and 31% respectively.</li>
</ul>


For the month of May, 8 new deals (firm and non-binding) were discussed on Smartkarma with an overall announced deal size of ~US$15bn.
The average premium for the new deals announced (or first discussed) in May was 32%.
This compares to the average premium for all deals in 2022 (106 deals), 2021 (165 deals), 2020 (158 deals), and 2019 (145 deals) of 41%, 33%, 31%, and 31% respectively.


(Mostly) Asia M&A, May 2023:  Allkem / Livent, InvoCare, Golden Eagle, Yita Coal, Shinsei Bank

<ul>
<li>There are 38 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.</li>
<li>There were no new deals were discussed on Smartkarma this week.</li>
<li>Key updates took place for <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>, <a href="https://www.smartkarma.com/entities/silk-laser-australia-ltd" target="_blank" data-smartkarma-citation="entities:33498:1" rel="noopener">Silk Laser Australia (SLA AU)</a>, <a href="https://www.smartkarma.com/entities/sing-tao-news-corp-ltd" target="_blank" data-smartkarma-citation="entities:15701:1" rel="noopener">Sing Tao News Corp (1105 HK)</a>, and <a href="https://www.smartkarma.com/entities/gk-goh-holdings-ltd" target="_blank" data-smartkarma-citation="entities:8482:1" rel="noopener">GK Goh Holdings (GKG SP)</a>.</li>
</ul>


There are 38 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
There were no new deals were discussed on Smartkarma this week.
Key updates took place for Toyo Construction (1890 JP), Silk Laser Australia (SLA AU), Sing Tao News Corp (1105 HK), and GK Goh Holdings (GKG SP).


(Mostly) Asia-Pac Weekly Risk Arb Wrap: Toyo Construction, Silk Laser, Sing Tao, GK Goh Holdings

<ul>
<li>There are 40 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.</li>
<li>Two new deals were discussed on Smartkarma this past week: <a href="https://www.smartkarma.com/entities/sbi-shinsei-bank-ltd" target="_blank" data-smartkarma-citation="entities:16897:1" rel="noopener">SBI Shinsei Bank (8303 JP)</a> Tender Offer and TPG's revised Offer for <a href="https://www.smartkarma.com/entities/invocare-ltd" target="_blank" data-smartkarma-citation="entities:9044:1" rel="noopener">Invocare Ltd (IVC AU)</a>.</li>
<li>Key updates took place for <a href="https://www.smartkarma.com/entities/newcrest-mining-ltd" target="_blank" data-smartkarma-citation="entities:691:1" rel="noopener">Newcrest Mining (NCM AU)</a>/<a href="https://www.smartkarma.com/entities/newmont-mining-corp" target="_blank" data-smartkarma-citation="entities:14503:1" rel="noopener">Newmont Mining (NEM US)</a>, <a href="https://www.smartkarma.com/entities/penguin-international-ltd" target="_blank" data-smartkarma-citation="entities:10190:1" rel="noopener">Penguin International (PBS SP)</a>, <a href="https://www.smartkarma.com/entities/united-fiber-system-ltd" target="_blank" data-smartkarma-citation="entities:20826:1" rel="noopener">Golden Energy &amp; Resources (GER SP)</a>, and <a href="https://www.smartkarma.com/entities/sing-tao-news-corp-ltd" target="_blank" data-smartkarma-citation="entities:15701:1" rel="noopener">Sing Tao News Corp (1105 HK)</a>.</li>
</ul>


There are 40 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
Two new deals were discussed on Smartkarma this past week: SBI Shinsei Bank (8303 JP) Tender Offer and TPG's revised Offer for Invocare Ltd (IVC AU).
Key updates took place for Newcrest Mining (NCM AU)/Newmont Mining (NEM US), Penguin International (PBS SP), Golden Energy &amp; Resources (GER SP), and Sing Tao News Corp (1105 HK).


(Mostly) Asia-Pac Weekly Risk Arb Wrap: InvoCare, Newcrest/Newmont, Penguin Int'l, Golden Energy

<ul>
<li>There are 39 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.</li>
<li>Three new deals were discussed on Smartkarma this past week: the <a href="https://www.smartkarma.com/entities/allkem-ltd" target="_blank" data-smartkarma-citation="entities:3572:1" rel="noopener">Allkem (AKE AU)</a>/<a href="https://www.smartkarma.com/entities/livent-corp" target="_blank" data-smartkarma-citation="entities:27434:1" rel="noopener">Livent (LTHM US)</a>'s merger; <a href="https://www.smartkarma.com/entities/inner-mongolia-yitai-coal-company-ltd" target="_blank" data-smartkarma-citation="entities:14904:1" rel="noopener">Yitai Coal (3948 HK)</a>'s H-share buyback; <a href="https://www.smartkarma.com/entities/arteria-networks-corp" target="_blank" data-smartkarma-citation="entities:27807:1" rel="noopener"> Networks Corp (4423 JP)</a>'s tender offer. </li>
<li>Key updates took place for<a href="https://www.smartkarma.com/entities/st-barbara-ltd" target="_blank" data-smartkarma-citation="entities:3764:1" rel="noopener">St Barbara Ltd (SBM AU)</a>, <a href="https://www.smartkarma.com/entities/aag-energy-holdings-ltd" target="_blank" data-smartkarma-citation="entities:501:1" rel="noopener">AAG Energy Holdings (2686 HK)</a>, and <a href="https://www.smartkarma.com/entities/toshiba-corp" target="_blank" data-smartkarma-citation="entities:637:1" rel="noopener">Toshiba Corp (6502 JP)</a>.</li>
</ul>


There are 39 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
Three new deals were discussed on Smartkarma this past week: the Allkem (AKE AU)/Livent (LTHM US)'s merger; Yitai Coal (3948 HK)'s H-share buyback;  Networks Corp (4423 JP)'s tender offer. 
Key updates took place forSt Barbara Ltd (SBM AU), AAG Energy Holdings (2686 HK), and Toshiba Corp (6502 JP).


(Mostly) Asia-Pac Weekly Risk Arb Wrap: Allkem/Livent, Yitai Coal, ARTERIA, St Barbara, AAG Energy

<ul>
<li>There are 39- mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.</li>
<li>One new deal was discussed on Smartkarma this past week: the unconditional Offer for <a href="https://www.smartkarma.com/entities/penguin-international-ltd" target="_blank" data-smartkarma-citation="entities:10190:1" rel="noopener">Penguin International (PBS SP)</a> from its Chairman and Dymon Group.</li>
<li>Key updates took place for <a href="https://www.smartkarma.com/entities/liontown-resources-ltd" target="_blank" data-smartkarma-citation="entities:20488:1" rel="noopener">Liontown Resources (LTR AU)</a>, <a href="https://www.smartkarma.com/entities/aag-energy-holdings-ltd" target="_blank" data-smartkarma-citation="entities:501:1" rel="noopener">AAG Energy Holdings (2686 HK)</a>, <a href="https://www.smartkarma.com/entities/lian-beng-group-ltd" target="_blank" data-smartkarma-citation="entities:17636:1" rel="noopener">Lian Beng (LBG SP)</a>, and <a href="https://www.smartkarma.com/entities/united-fiber-system-ltd" target="_blank" data-smartkarma-citation="entities:20826:1" rel="noopener">Golden Energy &amp; Resources (GER SP)</a>.</li>
</ul>


There are 39- mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
One new deal was discussed on Smartkarma this past week: the unconditional Offer for Penguin International (PBS SP) from its Chairman and Dymon Group.
Key updates took place for Liontown Resources (LTR AU), AAG Energy Holdings (2686 HK), Lian Beng (LBG SP), and Golden Energy &amp; Resources (GER SP).


(Mostly) Asia-Pac Weekly Risk Arb Wrap: Liontown, AAG Energy, Penguin, Lian Beng, Golden Energy

China

JOYY Inc. operates a global social media platform. The Company offers platform which enables users to interact with each other in real time through online live media by creating, sharing, and enjoying a vast range of entertainment content and activities. JOYY serves customers in China.

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JOYY (YY US)

(Mostly) Asia M&A, May 2023: Allkem / Livent, InvoCare, Golden Eagle, Yita Coal, Shinsei Bank

For the month of May, 8 new deals were discussed on Smartkarma with an overall announced deal size of ~US$15bn. The average premium for the new...

David Blennerhassett

(Mostly) Asia-Pac Weekly Risk Arb Wrap: Toyo Construction, Silk Laser, Sing Tao, GK Goh Holdings

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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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

(Mostly) Asia-Pac Weekly Risk Arb Wrap: Allkem/Livent, Yitai Coal, ARTERIA, St Barbara, AAG Energy

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

(Mostly) Asia-Pac Weekly Risk Arb Wrap: Liontown, AAG Energy, Penguin, Lian Beng, Golden Energy

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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