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

JSR (4185) - Possible Trouble in Arb Land as SUNY/CNSE Files Suit Against JSR Sub Inpria

JSR (4185) - Updated Information in SUNY Lawsuit, and Other Developments

JSR (4185) - Reporters Reportedly Report Conditions Such That JIC Deal Could Come Soon

JSR (4185) - Deal Approval Unexpectedly Delayed, As Expected

Shinko Electric (6967) Takeover:  Changing Break/Gap Risk as Comps Gain

Shinko Electric (6967) Takeover:  Initial Break/Gap Risk Analysis

Quiddity Advisors

Event-Driven

<ul>
<li>Five weeks ago, JIC announced a delay in the commencement of the Tender Offer to buy <a href="https://www.smartkarma.com/entities/jsr-corp" target="_blank" data-smartkarma-citation="entities:17620:1" rel="noopener">JSR Corp (4185 JP)</a>, originally scheduled to start by end-December 2023. </li>
<li>In the <a href="https://www.j-ic.co.jp/en/news/pdf/E_20231219_JIC_JICC_PressRelease.pdf" target="_blank" rel="noopener">announcement</a>, they said they expected the deal to start by end-February. In the press conference afterwards, JIC CEO Yokoo <a href="https://www.reuters.com/world/asia-pacific/jic-chief-says-no-issues-with-chinese-antitrust-regulator-over-jsr-buyout-2023-12-20/" target="_blank" rel="noopener">said</a> "no particular issues with the Chinese regulator." </li>
<li>He then added he expected the deal to be done by March-end. Language is vague. I expect that means to start by then, but even then, annualised is now 30%.</li>
</ul>


Five weeks ago, JIC announced a delay in the commencement of the Tender Offer to buy JSR Corp (4185 JP), originally scheduled to start by end-December 2023. 
In the announcement, they said they expected the deal to start by end-February. In the press conference afterwards, JIC CEO Yokoo said "no particular issues with the Chinese regulator." 
He then added he expected the deal to be done by March-end. Language is vague. I expect that means to start by then, but even then, annualised is now 30%.


JSR (4185) - Very Juicy Arb Return At Expected Timeline