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

JAFCO (8595) Cancels Tender Offer - I Offer a Modest Proposal For Good Governance

JAFCO (8595) Succumbs to Even Worse Greenmail - SPECTACULARLY BAD Governance

JAFCO (8595) Tender Offer Close Imminent - Decent Conviction to Not Be Long

JAFCO (8595) Yields to Murakami Greenmail - Big Asset Sale, Big Buyback

JAFCO (8595) Vs Murakami - It's On, So We Wait

JAFCO (8595) Down as Murakami Affiliates Sell the Pop on the Poison Pill, So Buy the Range Dip

Quiddity Advisors

Equity Bottom-Up

<ul>
<li>Late last month, <a href="https://www.smartkarma.com/insights/jafco-8595-yields-to-murakami-greenmail-big-asset-sale-big-buyback" target="_blank" data-smartkarma-citation="insights:85082" rel="noopener">JAFCO (8595) Yields to Murakami Greenmail - Big Asset Sale, Big Buyback</a> and set the large buyback from Murakami-san to occur through a Tender Offer.</li>
<li>The TOB price would be set at a 1% discount to the average 30 Nov - 7 Dec VWAP if VWAP was between ¥2,525 and ¥2,828/share. That's not happening.</li>
<li>So now we read the fine print, look at waive-ability of conditions, and look at contingencies.</li>
</ul>


Late last month, JAFCO (8595) Yields to Murakami Greenmail - Big Asset Sale, Big Buyback and set the large buyback from Murakami-san to occur through a Tender Offer.
The TOB price would be set at a 1% discount to the average 30 Nov - 7 Dec VWAP if VWAP was between ¥2,525 and ¥2,828/share. That's not happening.
So now we read the fine print, look at waive-ability of conditions, and look at contingencies.


JAFCO (8595) Sells NRI Shares But VWAP Falling Short - Comes Down To Murakami-San

Jafco Co Ltd

JAFCO (8595) Sells NRI Shares But VWAP Falling Short - Comes Down To Murakami-San