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

How Indian Buyback Offers Work - The Wipro Example

Quiddity Advisors

Event-Driven

On the 9th of November, the board of <a href="https://www.smartkarma.com/entities/engineers-india-ltd" target="_blank" data-smartkarma-citation="entities:13697:1" rel="noopener">Engineers India (ENGR IN)</a> made an <a href="https://www.bseindia.com/xml-data/corpfiling/AttachHis/d9028510-2726-43b0-b1c9-6869a6c6a912.pdf" target="_blank" rel="noopener">announcement</a> that it would consider at the board meeting to take place 3 days hence, theretofore for the purposes of, inter alia, considering and approving the Q2 financial results, a buyback of shares. There were no details. After the board meeting three days later, they announced that the plan was to propose a buyback of 69,869,047 shares at a price of Rs 84/share, which was effectively the maximum legal amount which could be spent on a buyback due to the statutory limit being 25% of the aggregate of the fully-paid-up share capital and the free reserves. It was 11.06% of shares out. They proposed a postal ballot which the ran from 21 Nov to 20 Dec. Shareholders approved. They set a 1 January record date. Now it gets interesting.Existing shareholders should DEFINITELY look at this.

On the 9th of November, the board of Engineers India (ENGR IN) made an announcement that it would consider at the board meeting to take place 3 days hence, theretofore for the purposes of, inter alia, considering and approving the Q2 financial results, a buyback of shares. There were no details. After the board meeting three days later, they announced that the plan was to propose a buyback of 69,869,047 shares at a price of Rs 84/share, which was effectively the maximum legal amount which could be spent on a buyback due to the statutory limit being 25% of the aggregate of the fully-paid-up share capital and the free reserves. It was 11.06% of shares out. They proposed a postal ballot which the ran from 21 Nov to 20 Dec. Shareholders approved. They set a 1 January record date. Now it gets interesting.Existing shareholders should DEFINITELY look at this.

Hefty Engineers India Buyback Tender - Worth The Arb If You Own