Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Fund manager <strong><a href="https://www.smartkarma.com/entities/china-everbright-ltd" target="_blank" data-smartkarma-citation="entities:167:1" rel="noopener">China Everbright (165 HK)</a></strong>'s implied stub and simple ratio (CEL / <strong><a href="https://www.smartkarma.com/entities/everbright-securitie-co-a" target="_blank" data-smartkarma-citation="entities:15343:1" rel="noopener">Everbright Securities Co (A) (601788 CH)</a></strong>)) are at multi-year lows.</li>
<li>Preceding my comments on China Everbright are the weekly setup/unwind tables for Asia-Pacific Holdcos.</li>
<li>These relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation &gt;20%.</li>
</ul>


Fund manager China Everbright (165 HK)'s implied stub and simple ratio (CEL / Everbright Securities Co (A) (601788 CH))) are at multi-year lows.
Preceding my comments on China Everbright are the weekly setup/unwind tables for Asia-Pacific Holdcos.
These relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation &gt;20%.


StubWorld: China Everbright (165 HK) Trading Wide

China

Everbright Jiabao Co., Ltd. is an investment holding company.  Through its subsidiaries, the Company manufactures capacitors, electricity generators, and light bulb products, operates in commercial trading, as well as develops residential real estate.

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Everbright Jiabao Co., Ltd. (600622 CH)

StubWorld: China Everbright (165 HK) Trading Wide

A 77% discount to NAV is wide by any measure. Everbright Securities Co is trading full. I'd look to buy CEL outright, or hedge with ESC. Pushback?...

David Blennerhassett

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