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

Meituan (3690 HK) Distro - Prosus Shares Hit CCASS. What We Know And What We Don't Know

Tencent (700 HK) To Divest Meituan (3690 HK) - Impact and Index Implications

Tencent Distribution of Meituan Shares Official - Impact and Index Implications

Meituan Index Flows Clarifications on the Tencent Distribution; Prosus Comments on Its Holdings

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Quiddity Advisors

Event-Driven

<ul>
<li>In early 2022, <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a> made clear it was on a divestment path - disposing of investments able to support themselves - possibly "obliged" after 2021's China internet mess.</li>
<li>In August, Reuters suggested <a href="https://www.smartkarma.com/entities/meituan-dianping" target="_blank" data-smartkarma-citation="entities:26970:1" rel="noopener">Meituan (3690 HK)</a> was next. Tencent denied it, but in November with Q3 earnings, announced a January 2023 distribution with March 2023 settlement. </li>
<li>US$16bn of Meituan shares get delivered on 24 March 2023 - this Friday. That's a lot. <em>But this time is different than last time.</em>
</li>
</ul>


In early 2022, Tencent (700 HK) made clear it was on a divestment path - disposing of investments able to support themselves - possibly "obliged" after 2021's China internet mess.
In August, Reuters suggested Meituan (3690 HK) was next. Tencent denied it, but in November with Q3 earnings, announced a January 2023 distribution with March 2023 settlement. 
US$16bn of Meituan shares get delivered on 24 March 2023 - this Friday. That's a lot. But this time is different than last time.



Meituan (3690 HK) - US$16bn of Shares To Be Delivered This Week