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

TOPIX April-End Rebalance - The OTHER Trades

TOPIX Upweights: Big April Basket 2021 Event-Leg Is Also a WIN. Finish Line Is Here!

TOPIX Inclusion Trade Summary: April 2021

Small Cap Growth: Rakus (3923) - Sayonara Manual Expenses!

Small Cap Growth: Rakus (3923) - Q2 Sales +28%

Small Cap Growth: Rakus - 42% Growth in Expense Settlement Software

Quiddity Advisors

Equity Capital Markets

Rakus is a digital outsourcing and cloud technology provider which concentrates on the under-served SME sector in Japan. Their main product is expense settlement software. Founded in 2000, and listed on the TSE MOTHERS exchange in December 2015 at ¥1050/share, the stock has split 2:1 every September since then, and is now ¥1650/share. It is a 25-bagger in five years. 
On Friday after the close, the company announced that the TSE had approved its application to move to the First Section of the TSE on 11 March 2021. This triggers an inclusion into the TOPIX Index at the end of April. 
The company ALSO announced an Equity Offering. 
<blockquote>
Since listing in December 2015, through discussions with a large number of investors we have been told that low liquidity and low free float ratio is a major issue for proper formation of stock prices and the improvement of corporate value, so we have asked for the cooperation of major investors and are conducting the above-mentioned stock sale for the purposes of improving liquidity.
</blockquote>
We'll see about that. 
The stock trades at 21x revenue.

Rakus is a digital outsourcing and cloud technology provider which concentrates on the under-served SME sector in Japan. Their main product is expense settlement software. Founded in 2000, and listed on the TSE MOTHERS exchange in December 2015 at ¥1050/share, the stock has split 2:1 every September since then, and is now ¥1650/share. It is a 25-bagger in five years. 
On Friday after the close, the company announced that the TSE had approved its application to move to the First Section of the TSE on 11 March 2021. This triggers an inclusion into the TOPIX Index at the end of April. 
The company ALSO announced an Equity Offering. 

Since listing in December 2015, through discussions with a large number of investors we have been told that low liquidity and low free float ratio is a major issue for proper formation of stock prices and the improvement of corporate value, so we have asked for the cooperation of major investors and are conducting the above-mentioned stock sale for the purposes of improving liquidity.

We'll see about that. 
The stock trades at 21x revenue.

Big Rakus (3923) Offering and TOPIX Inclusion

Rakus Co Ltd

Big Rakus (3923) Offering and TOPIX Inclusion