Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

HK Type 4 license through Ballingal Investment Advisors Ltd. ("BIA" or "BIAL")

BACKGROUND
I have 20+yrs experience in Asia doing alternative strategies (i.e. non-delta1 non long-only) in fixed income, equity derivatives, and activist/catalyst/event-driven and long-short equity strategies with most of that time spent managing money. 

4 years in fixed income macro, 8 years running internal hedge fund and 4yrs investment banking at Citi in Japan, 3 years running an Asia multi-strat portfolio at a hedge fund, 4+yrs as an independent special situations analyst.

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Nagoya-based medical tool and device maker <a href="https://www.smartkarma.com/entities/15915" target="_blank" data-smartkarma-citation="entities:15915:1">Asahi Intecc (7747 JP)</a> has been eligible to move from Nagoya and TSE Second Section to TSE First Section for some years, even before its explosive performance in that period. It seems that the company simply never got around to it. After better than 10-bagger performance since September 2012 and an 6-fold move in the last five years, on September 3rd, the company <a href="http://asahi.irbridge.com/ja/PressRelease/PressRelease-5866536224677474093/main/0/teaserItems1/0/linkList/0/link/20180903189.pdf" target="_blank">announced</a> (Japanese-only) an uridashi and small new share offering to cover the greenshoe where shareholders and the company sold ~5.25mm shares (about 4.5% of shares out and not quite 6% of float) worth ¥22.4bn. The main sellers were <a href="https://www.smartkarma.com/entities/10493" target="_blank" data-smartkarma-citation="entities:10493:1">Hogy Medical (3593 JP)</a> which sold 1 million shares and  management and their affiliated companies who sold more. At the same time on the 3rd of September, the company announced (<a href="http://asahi.irbridge.com/ja/PressRelease/PressRelease5861647384964375868/main/0/teaserItems1/0/linkList/0/link/20180903188.pdf" target="_blank">Japanese</a>, <a href="http://asahi.irbridge.com/en/PressRelease/PressRelease4688343577762351291/main/0/teaserItems1/0/linkList/0/link/20180903188E.pdf" target="_blank">English</a>) a move from TSE2 and NSE2 to TSE First Section as of 21 September. TSE1 reassignment triggers inclusion into the TOPIX Index. Based on the TOPIX Index Methodology (p7 of the <a href="http://www.jpx.co.jp/english/markets/indices/line-up/files/e_cal_16_Divf.pdf" target="_blank">TOPIX Index Guidebook</a>), inclusion will be on the last business day on the month following entrance into the First Section. This means the inclusion event will be at the close of trading October 30, 2018. TOPIX Inclusion analysis below.

Nagoya-based medical tool and device maker Asahi Intecc (7747 JP) has been eligible to move from Nagoya and TSE Second Section to TSE First Section for some years, even before its explosive performance in that period. It seems that the company simply never got around to it. After better than 10-bagger performance since September 2012 and an 6-fold move in the last five years, on September 3rd, the company announced (Japanese-only) an uridashi and small new share offering to cover the greenshoe where shareholders and the company sold ~5.25mm shares (about 4.5% of shares out and not quite 6% of float) worth ¥22.4bn. The main sellers were Hogy Medical (3593 JP) which sold 1 million shares and  management and their affiliated companies who sold more. At the same time on the 3rd of September, the company announced (Japanese, English) a move from TSE2 and NSE2 to TSE First Section as of 21 September. TSE1 reassignment triggers inclusion into the TOPIX Index. Based on the TOPIX Index Methodology (p7 of the TOPIX Index Guidebook), inclusion will be on the last business day on the month following entrance into the First Section. This means the inclusion event will be at the close of trading October 30, 2018. TOPIX Inclusion analysis below.

Asahi Intecc (7747 JP) TSE1 (Finally) And a BIG TOPIX Inclusion