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

Huatai Securities GDR Back On - Good Replacement Trade But Not Great Otherwise

Huatai Securities GDR Gets The Green Light, Taps Brakes

Quiddity Advisors

Event-Driven

The <a href="https://www.smartkarma.com/entities/huatai-securities-co-ltd-a" target="_blank" data-smartkarma-citation="entities:450:1">Huatai Securities Co Ltd (A) (601688 CH)</a> GDR (Global Depositary Receipt) pricing came out the 11th of June at US$20.00 to US$24.50 per GDR, conveniently after a day with a 5% gain in both the H-share and the A-share issues, announcing the deal at a then 12.5-28+% discount, which was wider than most seemed to have expect. The deal apparently got moved up to Thursday night the 13th.Then it got moved back to today.Now with the deal well-subscribed at the low end, there are warnings investors need to be bid higher than the bottom end to get any paper. The deal now prices today for trading starting on the 20th of June.

The Huatai Securities Co Ltd (A) (601688 CH) GDR (Global Depositary Receipt) pricing came out the 11th of June at US$20.00 to US$24.50 per GDR, conveniently after a day with a 5% gain in both the H-share and the A-share issues, announcing the deal at a then 12.5-28+% discount, which was wider than most seemed to have expect. The deal apparently got moved up to Thursday night the 13th.Then it got moved back to today.Now with the deal well-subscribed at the low end, there are warnings investors need to be bid higher than the bottom end to get any paper. The deal now prices today for trading starting on the 20th of June. 

Huatai GDRs - Prices Lower, Then Sooner, Then Later, Then Higher