Last Week in Event SPACE: Singapore Air, Softbank, DP World, Hitachi Chem, Naspers/Tencent, Renault

Last Week in Event SPACE ...

• Singapore Airlines (SIA SP) announces a substantial rights/MCB issue. If you are an arb, look to own the borrow. If you are a tax-efficient long-only investor, be on the watch for the rights trading cheaply. You can replace your current position with more cheaply-traded rights, especially if you are a smaller investor.
• Softbank Group (9984 JP) announced plans to raise as much as $41bn to buy back shares and cut debt.
• DP World (DPW DU)'s Scheme Doc is out. This is still, as Stephen Fry might say, A Good Deal.
• Arbs will be happy as Showa Denko K K (4004 JP) announced its Tender offer for Hitachi Chemical (4217 JP) will commence.
• At a 53% look-through discount, now is the time for Naspers (NPN SJ) to use the proceeds from its recent sale in Prosus (PRX NA) to buy back its shares.
• Anything which makes the Alliance seem more solid should be good for share prices. That could come in the form of Mitsubishi Corp (8058 JP) buying a stake in Renault SA (RNO FP), but Travis has another solution which would be easier, cheaper, and would make Nissan happier.
  

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