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

Washington H Soul Pattinson - Flows, Valuations, and Next Steps

Marvelous Milton Merger Mapping Mabbled: Ratio Done, Now For The Hard Part

Milton-WHSP Merger Index Implications and the Marvelous Arb

Marvelous Milton Moves to Merger and Flows, Lots of Flows

Marvelous Milton Making Its Move - New 30yr Highs On Both Stocks

Quiddity Advisors

Event-Driven

Washington H. Soul Pattinson and Co. Ltd / Event-Driven

Washington H. Soul Pattinson and Co. Ltd (SOL AU)

<p>The morning of the 16th of September 2021, <a href="https://www.smartkarma.com/entities/milton-corp-ltd" target="_blank" data-smartkarma-citation="entities:29090:1" rel="noopener">Milton Corp Ltd (MLT AU)</a> announced an expected A$0.37/share fully-franked special dividend (which should produce A$0.15857/share of franking credits) to go ex- on 21 September, which coincidentally should be the last day of trading for the stock.</p>
<p><a href="https://www.smartkarma.com/entities/washington-h-soul-pattinson-and-co-ltd" target="_blank" data-smartkarma-citation="entities:6054:1" rel="noopener">Washington H. Soul Pattinson and Co. Ltd (SOL AU)</a> shares fell more than 5% on the day, heading lower early, and staying low throughout the day.</p>
<section class="figure">
<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/230/191/original/Screenshot+2021-09-16+at+7.14.31+PM.png?1631790887" class="editor-image img-responsive" data-smartkarma-image-id="230191"></figure>
<p></p>
</section>
<p>It is not clear why, but one can make some guesses.</p>
<p>More below the fold.</p>
<hr>
<p>And for the history on this...</p>
<div>
<table class="table table-striped">
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<h2>History of Insights on the Situation</h2>
</td>
</tr>
<tr>
<td><strong>Date</strong></td>
<td><strong>Title</strong></td>
</tr>
<tr>
<td>22 Jun 21</td>
<td><a href="https://www.smartkarma.com/insights/milton-merger-is-a-most-marvelous-arb" target="_blank" rel="noopener">Milton Merger Is A Most Marvelous Arb</a></td>
</tr>
<tr>
<td>24 Jun 21</td>
<td><a href="https://www.smartkarma.com/insights/milton-whsp-merger-index-implications-and-the-marvelous-arb" target="_blank" rel="noopener">Milton-WHSP Merger Index Implications and the Marvelous Arb</a></td>
</tr>
<tr>
<td>21 Jul 21</td>
<td><a href="https://www.smartkarma.com/insights/milton-s-marvelous-arm-meanders-along-marvelously" target="_blank" rel="noopener">Milton’s Marvelous Arb Meanders Along... Marvelously</a></td>
</tr>
<tr>
<td>5 Aug 21</td>
<td><a href="https://www.smartkarma.com/insights/the-still-marvelous-milton-arb-confirms-its-schedule-much-marvelousness-to-come" target="_blank" rel="noopener">The STILL MARVELOUS Milton Arb Confirms Its Schedule - Much Marvelousness to Come</a></td>
</tr>
<tr>
<td>12 Aug 21</td>
<td><a href="https://www.smartkarma.com/insights/the-magnality-of-the-marvelous-milton-merger-makes-a-moribund-march-to-metaphysis-it-s-mirific" target="_blank" rel="noopener">The Magnality of the Marvelous Milton Merger Makes a Moribund March To Metaphysis (It’s Mirific!)</a></td>
</tr>
<tr>
<td>25 Aug 21</td>
<td>
<a href="https://www.smartkarma.com/insights/marvelous-milton-making-its-move-new-30yr-highs-on-both-stocks" target="_blank" data-smartkarma-citation="insights:56651" rel="noopener">Marvelous Milton Making Its Move - New 30yr Highs On Both Stocks</a> </td>
</tr>
<tr>
<td>3 Sep 21</td>
<td>
<a href="https://www.smartkarma.com/insights/marvelous-milton-merger-mapping-mabbled-ratio-done-now-for-the-hard-part" target="_blank" data-smartkarma-citation="insights:57110" rel="noopener">Marvelous Milton Merger Mapping Mabbled: Ratio Done, Now For The Hard Part</a> </td>
</tr>
<tr>
<td>10 Sep 21</td>
<td>
<a href="https://www.smartkarma.com/insights/marvelous-milton-moves-to-merger-and-flows-lots-of-flows" target="_blank" data-smartkarma-citation="insights:57463" rel="noopener">Marvelous Milton Moves to Merger and Flows, Lots of Flows</a> </td>
</tr>
</tbody>
</table>
</div>
<div>
<p></p>
</div>
<div>
<div></div>
</div>

The morning of the 16th of September 2021, Milton Corp Ltd (MLT AU) announced an expected A$0.37/share fully-franked special dividend (which should produce A$0.15857/share of franking credits) to go ex- on 21 September, which coincidentally should be the last day of trading for the stock.
Washington H. Soul Pattinson and Co. Ltd (SOL AU) shares fell more than 5% on the day, heading lower early, and staying low throughout the day.




It is not clear why, but one can make some guesses.
More below the fold.

And for the history on this...





History of Insights on the Situation



Date
Title


22 Jun 21
Milton Merger Is A Most Marvelous Arb


24 Jun 21
Milton-WHSP Merger Index Implications and the Marvelous Arb


21 Jul 21
Milton’s Marvelous Arb Meanders Along... Marvelously


5 Aug 21
The STILL MARVELOUS Milton Arb Confirms Its Schedule - Much Marvelousness to Come


12 Aug 21
The Magnality of the Marvelous Milton Merger Makes a Moribund March To Metaphysis (It’s Mirific!)


25 Aug 21

Marvelous Milton Making Its Move - New 30yr Highs On Both Stocks 


3 Sep 21

Marvelous Milton Merger Mapping Mabbled: Ratio Done, Now For The Hard Part 


10 Sep 21

Marvelous Milton Moves to Merger and Flows, Lots of Flows 











Marvelous Milton and WHSP (SOL AU) Index Event Prepositioning Analysis