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

Japan Post Bank (7182 JP) - Not Cheap Enough Vs Others, or Holdings

Japan's Banks - Lending Is Strong, Loan Officer Survey Suggests More, Credit Costs Can Be Low

Japan Post Bank (7182) - Report of ¥600bn Offer Would Lead to Index Flows, and a New Future

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Quiddity Advisors

Equity Capital Markets

<ul>
<li>The Offering comes in lighter than expected. The buyback is smaller than expected. The resultant overhang is larger than expected. </li>
<li>The index flows around the delivery date are well-understood. They are what they are.</li>
<li>Shareholder structure is such that this is not quite a new IPO but needs a lot of new shareholders. BUT... there is one redeeming feature one should not ignore.</li>
</ul>


The Offering comes in lighter than expected. The buyback is smaller than expected. The resultant overhang is larger than expected. 
The index flows around the delivery date are well-understood. They are what they are.
Shareholder structure is such that this is not quite a new IPO but needs a lot of new shareholders. BUT... there is one redeeming feature one should not ignore.


Japan Post Bank (7182) - Missed Opportunity Leaves Likely Shadow Overhang