Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Equity Analyst with experience in fundamental and event-driven research in Frontier and Emerging markets. 

On Smartkarma, I mainly publish insights on index flow events in the Asia-Pacific region. This includes predicting regular and intra-review index changes and estimating upcoming passive flows. I also cover special situations such as mergers & acquisitions, equity offerings, buybacks, and other corporate restructuring events.

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

On 22nd May 2020, South Downs Investment LP (backed by alternative investment manager <a href="https://www.smartkarma.com/entities/apollo-global-management-inc" target="_blank" data-smartkarma-citation="entities:28770:1" rel="noopener">Apollo Global Management Inc (APO US)</a>) agreed to acquire South Africa-listed UK-REIT <a href="https://www.smartkarma.com/entities/atlantic-leaf-properties" target="_blank" data-smartkarma-citation="entities:28971:1" rel="noopener">Atlantic Leaf Properties (ALP SJ)</a> in a deal that valued the target at a market cap of GBP152mn. The deal will be executed through a Scheme of Arrangement involving an all-cash consideration. The Scheme Consideration will be GBP0.805 per share (fixed in GBP). Target shareholders registered on the South African share register at the Scheme Record Time will receive the Scheme Consideration in ZAR (at the latest spot closing mid-point rate between ZAR and GBP on the Effective Date). On the other hand, Scheme Shareholders registered on the Mauritian share register will receive the Scheme Consideration in GBP.The deal is conditional on receiving target shareholder approval and is expected to close in early-August 2020. At the time of writing, shares of Atlantic Leaf are trading at ZAR16.25 (~GBP0.757) translating to a gross spread of ~6.3% with a little over 2 months to the anticipated closing date. As usual, there is more below the fold.

On 22nd May 2020, South Downs Investment LP (backed by alternative investment manager Apollo Global Management Inc (APO US)) agreed to acquire South Africa-listed UK-REIT Atlantic Leaf Properties (ALP SJ) in a deal that valued the target at a market cap of GBP152mn. The deal will be executed through a Scheme of Arrangement involving an all-cash consideration. The Scheme Consideration will be GBP0.805 per share (fixed in GBP). Target shareholders registered on the South African share register at the Scheme Record Time will receive the Scheme Consideration in ZAR (at the latest spot closing mid-point rate between ZAR and GBP on the Effective Date). On the other hand, Scheme Shareholders registered on the Mauritian share register will receive the Scheme Consideration in GBP.The deal is conditional on receiving target shareholder approval and is expected to close in early-August 2020. At the time of writing, shares of Atlantic Leaf are trading at ZAR16.25 (~GBP0.757) translating to a gross spread of ~6.3% with a little over 2 months to the anticipated closing date. As usual, there is more below the fold. 

Atlantic Leaf: Apollo's Rescue Offer for Vukile, Trading Wide