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

LY Corp (4689) Announces Takeover of Beenos (3328) - Lightish at ¥4,000 But A Done Deal

Beenos Inc (3328 JP): Full-year FY09/24 flash update

Quiddity Advisors

Event-Driven

<ul>
<li>On Friday 21 March, <a href="https://www.smartkarma.com/entities/ly-corp" target="_blank" data-smartkarma-citation="entities:19603:1" rel="noopener">LY (4689 JP)</a> made an <a href="https://www.lycorp.co.jp/en/ir/news/auto_20250321598131/pdfFile.pdf" target="_blank" rel="noopener">announcement</a> it had received all the required approvals and would launch the Tender Offer on 24 March. </li>
<li>Some were upset about the price originally but unlike other deals, this one traded below terms for three months since original announcement. Three activish funds had pitched in their 30%.</li>
<li>This is now trading tight, and will continue to trade tight. If you own, whether you hold through early May depends on whether you are bullish or bearish the market.</li>
</ul>


On Friday 21 March, LY (4689 JP) made an announcement it had received all the required approvals and would launch the Tender Offer on 24 March. 
Some were upset about the price originally but unlike other deals, this one traded below terms for three months since original announcement. Three activish funds had pitched in their 30%.
This is now trading tight, and will continue to trade tight. If you own, whether you hold through early May depends on whether you are bullish or bearish the market.


LY Corp (4689) Launches Beenos (3328) Tender Offer at ¥4,000