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

Permata Transaction Complete - Now For The Mandatory Takeover

Permata Bank Q1 Announced; MTO Likely On Its Way

Quiddity Advisors

Event-Driven

This morning it was announced in the Kompas newspaper that the long-awaited Mandatory Takeover for the remaining 3.05 billion shares (10.88% of shares out) of <a href="https://www.smartkarma.com/entities/bank-permata-tbk-pt" target="_blank" data-smartkarma-citation="entities:728:1" rel="noopener">Bank Permata (BNLI IJ)</a> by <a href="https://www.smartkarma.com/entities/bangkok-bank-public-co-ltd" target="_blank" data-smartkarma-citation="entities:213:1" rel="noopener">Bangkok Bank Public (BBL TB)</a> would be launched at IDR 1,347/share and would take place between 27 August and 25 September. The Offer is being made for the 26,880,234 class A shares and 3,024,429,639 class B shares.The fact this would be done in September came out in an investor relations <a href="https://www.idx.co.id/StaticData/NewsAndAnnouncement/ANNOUNCEMENTSTOCK/From_EREP/202008/346c845c83_fe1ef309eb.pdf" target="_blank" rel="noopener">deck</a> yesterday released to the Indonesian Stock Exchange, but price is out in a separate filing. CNBC Indonesia had the following to say...<blockquote>
Based on the Bangkok Bank prospectus issued on Wednesday (26/8/2020), the company appointed PT Mandiri Sekuritas to assist the mandatory tender offer process.
"As further explained, this new controller [Bangkok Bank] has no plans to liquidate the company or change its dividend policy or delete the company's shares (delisting) on ​​the Indonesia Stock Exchange (IDX) or attempt to go private," stressed Bangkok Bank in prospectus.
</blockquote>The <a href="https://www.idx.co.id/StaticData/NewsAndAnnouncement/ANNOUNCEMENTSTOCK/From_EREP/202008/525a8940d3_c8ab0e08a7.pdf" target="_blank" rel="noopener">announcement in English</a> and <a href="https://www.idx.co.id/StaticData/NewsAndAnnouncement/ANNOUNCEMENTSTOCK/From_EREP/202008/02f582dde4_92a8c191b8.pdf" target="_blank" rel="noopener">prospectus in bahasa Indonesia</a> are now on the Indonesian stock exchange. The documents are also attached to this insight at the bottom and can be found on the IDX announcement page (search: BNLI) at <a href="https://www.idx.co.id/en-us/news/announcement/" target="_blank" rel="noopener">https://www.idx.co.id/en-us/news/announcement/</a>.More below the fold.

This morning it was announced in the Kompas newspaper that the long-awaited Mandatory Takeover for the remaining 3.05 billion shares (10.88% of shares out) of Bank Permata (BNLI IJ) by Bangkok Bank Public (BBL TB) would be launched at IDR 1,347/share and would take place between 27 August and 25 September. The Offer is being made for the 26,880,234 class A shares and 3,024,429,639 class B shares.The fact this would be done in September came out in an investor relations deck yesterday released to the Indonesian Stock Exchange, but price is out in a separate filing. CNBC Indonesia had the following to say...
Based on the Bangkok Bank prospectus issued on Wednesday (26/8/2020), the company appointed PT Mandiri Sekuritas to assist the mandatory tender offer process.
"As further explained, this new controller [Bangkok Bank] has no plans to liquidate the company or change its dividend policy or delete the company's shares (delisting) on ​​the Indonesia Stock Exchange (IDX) or attempt to go private," stressed Bangkok Bank in prospectus.
The announcement in English and prospectus in bahasa Indonesia are now on the Indonesian stock exchange. The documents are also attached to this insight at the bottom and can be found on the IDX announcement page (search: BNLI) at https://www.idx.co.id/en-us/news/announcement/.More below the fold.

Permata Bank Mandatory Takeover Launched. Finally.