Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Stay long <a href="https://www.smartkarma.com/entities/benefit-one-inc" target="_blank" data-smartkarma-citation="entities:14502:1" rel="noopener">Benefit One (2412 JP)</a>. Dai-Ichi Life can pay more, if pushed on pricing. May not be huge, but it could be a few percent or even 10%. </li>
<li>
<a href="https://www.smartkarma.com/entities/hankook-company-co-ltd" target="_blank" data-smartkarma-citation="entities:19369:1" rel="noopener">Hankook &amp; Company (000240 KS)</a>'s family feud goes public. The public tender looks set to fail. Coal in stockings all-round.</li>
<li>If you had any <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> left over from the rally up to ¥1,300+, get out. There may be a better opportunity later, but not here.</li>
</ul>


Stay long Benefit One (2412 JP). Dai-Ichi Life can pay more, if pushed on pricing. May not be huge, but it could be a few percent or even 10%. 

Hankook &amp; Company (000240 KS)'s family feud goes public. The public tender looks set to fail. Coal in stockings all-round.
If you had any Toyo Construction (1890 JP) left over from the rally up to ¥1,300+, get out. There may be a better opportunity later, but not here.


Last Week in Event SPACE: Benefit One, Hankook, Toyo Construction, Hanwha, Tsuruha, Livent/Allkem

<ul>
<li>I tally 50 - 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>Six new deals discussed this week, all Down Under: <a href="https://www.smartkarma.com/entities/adbri-ltd" target="_blank" data-smartkarma-citation="entities:20166:1" rel="noopener">Adbri (ABC AU)</a>, <a href="https://www.smartkarma.com/entities/link-administration-holdings-ltd" target="_blank" data-smartkarma-citation="entities:970:1" rel="noopener">Link Administration (LNK AU)</a>, <a href="https://www.smartkarma.com/entities/pacific-smiles-group-ltd" target="_blank" data-smartkarma-citation="entities:2891:1" rel="noopener">Pacific Smiles (PSQ AU)</a>, <a href="https://www.smartkarma.com/entities/probiotec-ltd" target="_blank" data-smartkarma-citation="entities:12047:1" rel="noopener">Probiotec (PBP AU)</a>, <a href="https://www.smartkarma.com/entities/a2b-australia-ltd" target="_blank" data-smartkarma-citation="entities:16558:1" rel="noopener">A2B Australia (A2B AU)</a>, and <a href="https://www.smartkarma.com/entities/whispir-ltd" target="_blank" data-smartkarma-citation="entities:29125:1" rel="noopener">Whispir (WSP AU)</a>.</li>
<li>Key updates took place on: <a href="https://www.smartkarma.com/entities/azure-minerals-ltd" target="_blank" data-smartkarma-citation="entities:16538:1" rel="noopener">Azure Minerals (AZS AU)</a>, <a href="https://www.smartkarma.com/entities/lithium-power-international" target="_blank" data-smartkarma-citation="entities:30603:1" rel="noopener">Lithium Power International (LPI AU)</a>, <a href="https://www.smartkarma.com/entities/jsr-corp" target="_blank" data-smartkarma-citation="entities:17620:1" rel="noopener">JSR Corp (4185 JP)</a>, <a href="https://www.smartkarma.com/entities/allkem-ltd" target="_blank" data-smartkarma-citation="entities:3572:1" rel="noopener">Allkem Ltd (AKE AU)</a>, and <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>
</ul>


I tally 50 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
Six new deals discussed this week, all Down Under: Adbri (ABC AU), Link Administration (LNK AU), Pacific Smiles (PSQ AU), Probiotec (PBP AU), A2B Australia (A2B AU), and Whispir (WSP AU).
Key updates took place on: Azure Minerals (AZS AU), Lithium Power International (LPI AU), JSR Corp (4185 JP), Allkem Ltd (AKE AU), and Toyo Construction (1890 JP).


(Mostly) Asia-Pac Weekly Risk Arb Wrap: Adbri, Link Admin, Azure Minerals, Lithium Power, JSR Corp

<ul>
<li>I tally 46 - 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>Four new deals discussed this week: <a href="https://www.smartkarma.com/entities/sigma-healthcare-ltd" target="_blank" data-smartkarma-citation="entities:15966:1" rel="noopener">Sigma Healthcare (SIG AU)</a>'s reverse takeover; Tanotos' tilt for <a href="https://www.smartkarma.com/entities/vinda-international-holdings-limited" target="_blank" data-smartkarma-citation="entities:475:1" rel="noopener">Vinda (3331 HK)</a>; and Tender offers for <a href="https://www.smartkarma.com/entities/shinko-electric-industries" target="_blank" data-smartkarma-citation="entities:15066:1" rel="noopener">Shinko Electric (6967 JP)</a> and <a href="https://www.smartkarma.com/entities/outsourcing-inc" target="_blank" data-smartkarma-citation="entities:7431:1" rel="noopener">Outsourcing (2427 JP)</a>.</li>
<li>Key updates took place on: <a href="https://www.smartkarma.com/entities/pact-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:692:1" rel="noopener">Pact Group Holdings (PGH AU)</a>, <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/costa-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:22632:1" rel="noopener">Costa Group Holdings (CGC AU)</a>, <a href="https://www.smartkarma.com/entities/t-k-toka-co-ltd" target="_blank" data-smartkarma-citation="entities:18678:1" rel="noopener">T&amp;K Toka Co Ltd (4636 JP)</a> and <a href="https://www.smartkarma.com/entities/hollysys-automation-technologies" target="_blank" data-smartkarma-citation="entities:26078:1" rel="noopener">Hollysys Automation Technologies (HOLI US)</a>.</li>
</ul>


I tally 46 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
Four new deals discussed this week: Sigma Healthcare (SIG AU)'s reverse takeover; Tanotos' tilt for Vinda (3331 HK); and Tender offers for Shinko Electric (6967 JP) and Outsourcing (2427 JP).
Key updates took place on: Pact Group Holdings (PGH AU), Allkem (AKE AU), Costa Group Holdings (CGC AU), T&amp;K Toka Co Ltd (4636 JP) and Hollysys Automation Technologies (HOLI US).


(Mostly) Asia-Pac Weekly Risk Arb Wrap: Sigma Health, Vinda, Outsourcing, Allkem, Costa, Hollysys

<ul>
<li>I tally 42 - 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>Four new deals discussed this week: <a href="https://www.smartkarma.com/entities/washington-h-soul-pattinson-and-co-ltd" target="_blank" data-smartkarma-citation="entities:6054:1" rel="noopener">WashSoul</a>'s tilt for <a href="https://www.smartkarma.com/entities/perpetual-ltd" target="_blank" data-smartkarma-citation="entities:599:1" rel="noopener">Perpetual (PPT AU)</a>; <a href="https://www.smartkarma.com/entities/cpmc-holdings-ltd" target="_blank" data-smartkarma-citation="entities:10427:1" rel="noopener">CPMC (906 HK)</a>'s SASAC Offer; <a href="https://www.smartkarma.com/entities/weiqiao-textile-co" target="_blank" data-smartkarma-citation="entities:3690:1" rel="noopener">Weiqiao Textile  (2698 HK)</a>'s Offer; and <a href="https://www.smartkarma.com/entities/tokyo-rakutenchi-co-ltd" target="_blank" data-smartkarma-citation="entities:2078:1" rel="noopener">Tokyo Rakutenchi (8842 JP)</a>'s Tender Offer.</li>
<li>Key updates took place on: <a href="https://www.smartkarma.com/entities/origin-energy-ltd" target="_blank" data-smartkarma-citation="entities:797:1" rel="noopener">Origin Energy (ORG AU)</a>, <a href="https://www.smartkarma.com/entities/healius-ltd-6d4d947d-ad32-4aea-b2d8-265f5768b55e" target="_blank" data-smartkarma-citation="entities:14208:1" rel="noopener">Healius (HLS AU)</a>, <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/eoflow-co-ltd" target="_blank" data-smartkarma-citation="entities:36100:1" rel="noopener">Eoflow (294090 KS)</a>, and <a href="https://www.smartkarma.com/entities/chindata-group-holdings-adr" target="_blank" data-smartkarma-citation="entities:29274:1" rel="noopener">Chindata Group (CD US)</a>.</li>
</ul>


I tally 42 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
Four new deals discussed this week: WashSoul's tilt for Perpetual (PPT AU); CPMC (906 HK)'s SASAC Offer; Weiqiao Textile  (2698 HK)'s Offer; and Tokyo Rakutenchi (8842 JP)'s Tender Offer.
Key updates took place on: Origin Energy (ORG AU), Healius (HLS AU), Toyo Construction (1890 JP), Eoflow (294090 KS), and Chindata Group (CD US).


(Mostly) Asia-Pac Weekly Risk Arb Wrap: Perpetual, Weiqiao Textile,Tokyo Rakutenchi,Toyo, Chindata

<ul>
<li>A holistic view of the three different documents here suggests the <a href="https://www.smartkarma.com/entities/denso-corp" target="_blank" data-smartkarma-citation="entities:18703:1" rel="noopener">Denso Corp (6902 JP)</a> buyback, indeed, "It was a trap".</li>
<li>3D Investment Partners raised its stake in <a href="https://www.smartkarma.com/entities/sapporo-holdings-ltd" target="_blank" data-smartkarma-citation="entities:14085:1" rel="noopener">Sapporo Holdings (2501 JP)</a>,  suggesting the activist investor is optimistic about successfully advancing their proposals.</li>
<li>A firm merger proposal is expected for <a href="https://www.smartkarma.com/entities/hollysys-automation-technologies" target="_blank" data-smartkarma-citation="entities:26078:1" rel="noopener">Hollysys Automation Technologies (HOLI US)</a> in the next couple of weeks. Time to buy.</li>
</ul>


A holistic view of the three different documents here suggests the Denso Corp (6902 JP) buyback, indeed, "It was a trap".
3D Investment Partners raised its stake in Sapporo Holdings (2501 JP),  suggesting the activist investor is optimistic about successfully advancing their proposals.
A firm merger proposal is expected for Hollysys Automation Technologies (HOLI US) in the next couple of weeks. Time to buy.


Last Week in Event SPACE: Denso, Sapporo, Hollysys, PCCW, Origin Energy

Australia

Enero Group Limited provides specialist marketing services.  The Company's services build and leverage customer relationships, develop brands and generate sales.  Enero's services include advertising services, media planning and communications, public relations, research services, direct marketing, specialist design and event management.

Brisbane Broncos Limited is a sporting franchise company which manages and operates the Brisbane Broncos rugby league football team.

GTN Limited is a supplier of traffic information reports to radio stations in Australia, United Kingdom, Canada, and Brazil. The Company receives commercial advertising spots adjacent to traffic, news, and information reports from its network of affiliates and these spots are bundled together and sold to advertisers on a national, regional, or specific market basis.

Prime Media Group Limited is a television broadcaster offering programming services in regional New South Wales, Victoria, Western Australia and the Gold Coast.Prime offers a variety of programming including news, sports and entertainment.

Aspermont Limited publishes branded print and Internet trade publications to the mining, oil and gas, construction and related markets.

Victor Group Holdings Ltd provides marketing consulting services to enterprises. The Company focuses on marketing management training, brand planning and marketing strategic planning.

Seven West Media Limited is a national multi-platform media business based in Australia.  The Company's operations include a television network, magazines, newspapers, radio, and Internet.

IVE Group Limited provides advertising and marketing services. The Company offers promotional merchandising, third party sourcing, printing, retail display, and business communication services. IVE Group conducts its business in Australia.

oOh!media Ltd is a media company. The Company provides advertising and marketing solutions, campaign production, campaign management, creative and digital solutions.

Event Hospitality and Entertainment Limited owns and operates motion picture exhibition cinemas, drive-in theaters and film processing laboratories.  The Group also owns and operates the Thredbo Alpine Resort, Sydney harbor ferry services and the Feather -dale Wildlife Park along with operating hotels, resorts and restaurants.

Event Hospitality and Entertainment (EVT AU)

Mei Ah Entertainment Group Limited, through its subsidiaries, distributes films and programs in audio visual products formats.  The Company also sub-licenses film exhibition and rights, and provides internet and related services.  In addition, Mei Ah Entertainment operates television station.

Saga Communications, Inc. acquires, develops, and operates broadcast properties. The Company owns and operates FM and AM radio stations, state radio networks, a farm radio network, and television stations in the United States.

Plexure Group Ltd has developed a smartphone based digital wallet and cloud based m-commerce platform.

Shenghua Entertainment Communication Co., Ltd. is a media and entertainment company engaging in the production and filming of TV drama.

TOW CO., LTD. plans, advertises, produces, and manages various types of events. The Company manages exhibitions, ceremonies, festivals, products promotion campaigns, public service announcements, sporting events, and expositions.

FreakOut Holdings, inc. operates as a digital marketing technology company. The Company offers demand side platform development and sales, trading desk development, and design and implementation of RTB infrastructure. FreakOut markets its products and services internationally.

Chorokbaem Media Co., Ltd. operates in an entertainment business and also manufactures non-woven fabrics for artificial leather reinforcement, filter fabrics, industrial filter fabrics, and needle felts. The Company provides its products to domestic market as well as overseas markets.

Hindustan Media Ventures Ltd. is a publishing company. The Company publishes the "Hindustan" Hindi newspaper which covers news across the entire spectrum of international, national and local news relating to politics, business, entertainment, sports and other general interests.

Korea Cable T.V. Chung-buk System Co., Ltd. (CCS) operates a cable television system for Chungbuk area.  The Company also provides high-speed Internet services.

Zee Media Corporation Limited operates in the media industry. The Company's programming covers all genres, such as news, social service programming, entertainment and sports.

Southern Cross Media Group Limited operates broadcasting and publishing businesses. The Company operates regional radio and television stations in Australia, and publishes community newspapers in the United States.

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Southern Cross Media (SXL AU)

Last Week in Event SPACE: Benefit One, Hankook, Toyo Construction, Hanwha, Tsuruha, Livent/Allkem

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

(Mostly) Asia-Pac Weekly Risk Arb Wrap: Adbri, Link Admin, Azure Minerals, Lithium Power, JSR Corp

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: Sigma Health, Vinda, Outsourcing, Allkem, Costa, Hollysys

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: Perpetual, Weiqiao Textile,Tokyo Rakutenchi,Toyo, Chindata

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

Last Week in Event SPACE: Denso, Sapporo, Hollysys, PCCW, Origin Energy

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

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