Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

HK Type 4 license through Ballingal Investment Advisors Ltd. 

I'm a highly experienced sell-side analyst with in excess of 22 years of covering Asia Pacific equities, the past 19 years immersed in event strategies encompassing M&A risk arbitrage, directional long/short, stub trades and restructuring.  

My background also includes accountancy (liquidation/bankruptcy/receivership) earlier in my career and as a chief financial officer of a global commodity company based in the US and Mexico.

Pan-Asia Catalysts/Events

The Bigger Picture As Aussie Government "Approves' Hanwha Ocean's Austal Bid

Austal (ASB AU): Hanwha's NBIO Is A Non-Starter

Quiddity Advisors

Equity Bottom-Up

<ul>
<li>Taking advantage of a doubling in its share price over the last year, <strong><a href="https://www.smartkarma.com/entities/austal-ltd" target="_blank" data-smartkarma-citation="entities:14420:1" rel="noopener">Austal</a> </strong>is tapping the market to fund the expansion of its US facilities to fulfil US Navy contracts.</li>
<li>Austal is placing out 52.6mn new shares (non-underwritten) at A$3.80/share - ~A$200mn all-in - a 15.6% discount to last close, and effectively tapping out its annual placement capacity.</li>
<li>Provided the placement is squared away, founder John Rothwell will unload $50mn of his own stock. As such, any M&amp;A activity is now firmly on the backburner. </li>
</ul>


Taking advantage of a doubling in its share price over the last year, Austal is tapping the market to fund the expansion of its US facilities to fulfil US Navy contracts.
Austal is placing out 52.6mn new shares (non-underwritten) at A$3.80/share - ~A$200mn all-in - a 15.6% discount to last close, and effectively tapping out its annual placement capacity.
Provided the placement is squared away, founder John Rothwell will unload $50mn of his own stock. As such, any M&amp;A activity is now firmly on the backburner. 


Austal (ASB AU)'s Placement Puts The Skids On Near-Term M&A

Austal Ltd

Austal (ASB AU)'s Placement Puts The Skids On Near-Term M&A