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

ANTA Sports Investor Day Targets DESCENTE (8114) For Growth

Descente (8114) : Itochu Still Buying and ANTA Gives You Earnings Hints

Descente (8114 JP): Itochu’s (8001 JP) Light Pre-Conditional Offer

Descente Tamed, Itochu Delicacy Required And Investors Can Probably Wait

Branded Camping from Goldwin and Snow Peak

Quiddity Advisors

Event-Driven

<ul>
<li>Four years after Itochu got to 40.0% of votes in Descente (8114) in a hostile Tender Offer, Descente partner ANTA, which supported Itochu at the time started selling its stake.</li>
<li>A few months later, Itochu started buying shares of Descente in the market. As of 7 Sep, Itochu had bought Descente shares 81 days straight (9.7% of ADV).</li>
<li>This begs the question: Is Itochu ensuring they maintain voting control as ANTA sells? Or are they buying to lift their stake prior to another bid?</li>
</ul>


Four years after Itochu got to 40.0% of votes in Descente (8114) in a hostile Tender Offer, Descente partner ANTA, which supported Itochu at the time started selling its stake.
A few months later, Itochu started buying shares of Descente in the market. As of 7 Sep, Itochu had bought Descente shares 81 days straight (9.7% of ADV).
This begs the question: Is Itochu ensuring they maintain voting control as ANTA sells? Or are they buying to lift their stake prior to another bid?


Itochu Buying Descente (8114) - ANTA Selldown Offset Or Creeping Takeover?

Descente Ltd

Itochu Buying Descente (8114) - ANTA Selldown Offset Or Creeping Takeover?