Last Week in Event SPACE: Sing Air, Toshiba, Car Inc, Metlifecare, CP All/Tesco, Posco, 58.com

Last Week in Event SPACE ...

• Singapore Airlines (SIA SP) rights and rights MCBs represent trading opportunities, and they represent some weird gamesmanship. And there should be more leverage in the MCBs rights than in the share rights. But it is such a large mass of financing and overhang that the market may not absorb it easily.
• Activists had wanted Toshiba Corp (6502 JP)'s TSE1 reassignment earlier than the five-year wait mandated by the TSE Listing Regulations, and it appears the lobbying paid off. They wanted it because it would mean TOPIX investors buying 10-13% of shares outstanding, which would help the owners find new buyers for their shares. And is an MBO now a possibility?
• Unfortunately, the selling of shares by Car Inc (699 HK)'s major shareholder on a massive down-day, was not a delayed April Fool's joke. Just one of four insights written this week (along with iQIYI Inc (IQ US), Luckin Coffee (LK US) and TAL Education (TAL US)) touching on actual and perceived corporate transgressions of Chinese companies.
• More detail emerges on the CP All PCL (CPALL TB) / Tesco deal, with an estimated earnings lift for CPALL of almost Bt1.4bn on a sustainable basis.
• Posco (005490 KS) announces a US$830mn share buyback, representing 6.5% of shares out.
• Just what play/ploy is afoot in Ocean Link's low-ball tilt for 58.Com Inc Adr (WUBA US)?

• Plus, other events, CCASS movements and Mood Spins.