Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Equity Capital Markets

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<li>
<a href="https://www.smartkarma.com/entities/sanyo-trading-co-ltd" target="_blank" data-smartkarma-citation="entities:14733:1" rel="noopener">Sanyo Trading (3176 JP)</a> is a small specialised trading company (rubber, polymers, elastomers, etc). Niche, decent profitability/margins, highish ROE.</li>
<li>Banks in the MUFG and SMBC family are selling. Norinchukin is selling a bit too. </li>
<li>This is small in size but big in impact. 20% of Max RWF. 50d ADV. Unlike other recent, larger, offerings, this has no flow mitigants. But it's cheap.</li>
</ul>



Sanyo Trading (3176 JP) is a small specialised trading company (rubber, polymers, elastomers, etc). Niche, decent profitability/margins, highish ROE.
Banks in the MUFG and SMBC family are selling. Norinchukin is selling a bit too. 
This is small in size but big in impact. 20% of Max RWF. 50d ADV. Unlike other recent, larger, offerings, this has no flow mitigants. But it's cheap.


Sanyo Trading (3176 JP) - Small Secondary Offering as Banks Sell, More Later

Japan

Sanyo Trading Co. Ltd. provides international and domestic trading services. The Company imports, exports, and sells a variety of products such as rubbers, chemical products, industrial products, machinery and materials, and scientific instruments.

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Sanyo Trading (3176 JP) - Small Secondary Offering as Banks Sell, More Later

This is a cheap stock with a small secondary offering to unwind cross-holdings. There are more unwinds to come, but this stock has cross-holdings...

Travis Lundy