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

JIC Launches a NOT-¥1trln Tender Offer for JSR (4185). Welcome? Yes. Overwhelming? Meh.

JSR (4185 JP) Takeover - Why So Wide? FUD and Flows

Shinko Electric (6967) - Waiting for a Package

JSR (4185 JP): Inpria Acquisition Lays Out 10-Year Photoresist Roadmap

Quiddity Advisors

Event-Driven

<ul>
<li>The Nikkei followed by other media outlets revealed Saturday that the JIC (株式会社産業革新投資機構) were in talks with <a href="https://www.smartkarma.com/entities/jsr-corp" target="_blank" data-smartkarma-citation="entities:17620:1" rel="noopener">JSR Corp (4185 JP)</a> to acquire the photoresist maker for ¥1 trillion.</li>
<li>JSR's release (<a href="https://ssl4.eir-parts.net/doc/4185/tdnet/2302693/00.pdf" target="_blank" rel="noopener">Japanese</a>/<a href="https://ssl4.eir-parts.net/doc/4185/ir_material4/209830/00.pdf" target="_blank" rel="noopener">English</a>) noted that they are considering the matter, but no decision has been made. They note, however, a Board of Directors meeting on Monday 26 June 2023.</li>
<li>Articles suggest a Tender Offer "this year", delisting next. ¥1 trillion is a 50% premium. Or 35%. I expect shares go limit up, then we will get more news post-close.</li>
</ul>


The Nikkei followed by other media outlets revealed Saturday that the JIC (株式会社産業革新投資機構) were in talks with JSR Corp (4185 JP) to acquire the photoresist maker for ¥1 trillion.
JSR's release (Japanese/English) noted that they are considering the matter, but no decision has been made. They note, however, a Board of Directors meeting on Monday 26 June 2023.
Articles suggest a Tender Offer "this year", delisting next. ¥1 trillion is a 50% premium. Or 35%. I expect shares go limit up, then we will get more news post-close.


JIC To Launch ¥1 Trillion Takeover on JSR (4185)