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

StubWorld: Prosus & Naspers Gain On Buyback Funded By Tencent Share Sale

Prosus: Finally, a Catalyst; Cash Flows, Capital Allocation, Should Limit Drop in Discount to NAV

GEM Weekly (1 Jul 2022): Asia PMI; Prosus, Tencent, JD.com, Samsung Electronics, GlobalWafers

Naspers & Prosus Exchange Offer - Accretion Vs Complexity

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>I wanted to write this insight over the weekend but could not finish it, but now there is new news to warrant it. </li>
<li>Today, <a href="https://www.smartkarma.com/entities/prosus-nv" target="_blank" data-smartkarma-citation="entities:28104:1" rel="noopener">Prosus (PRX NA)</a>  <a href="https://www.prosus.com/news/disposal-of-jdcom-shares-received-from-tencent-holdings-limited/" target="_blank" rel="noopener">announced</a> it had sold the 131,873,028 <a href="https://www.smartkarma.com/entities/jd-com-inc" target="_blank" data-smartkarma-citation="entities:29043:1" rel="noopener">JD.com Inc. (9618 HK)</a> shares it received in the <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a> distribution. This is as expected. Proceeds were US$3.67bn.</li>
<li>Also <a href="https://www.prosus.com/news/the-group-announces-the-beginning-of-an-open-ended-share-repurchase-programme-of-prosus-and-naspers-shares/" target="_blank" rel="noopener">announced</a> this morning is "the beginning of an open-ended share repurchase programme of Prosus and <a href="https://www.smartkarma.com/entities/naspers-ltd" target="_blank" data-smartkarma-citation="entities:21085:1" rel="noopener">Naspers (NPN SJ)</a> shares." The details are the key to <em>everything</em>. </li>
</ul>


I wanted to write this insight over the weekend but could not finish it, but now there is new news to warrant it. 
Today, Prosus (PRX NA)  announced it had sold the 131,873,028 JD.com Inc. (9618 HK) shares it received in the Tencent (700 HK) distribution. This is as expected. Proceeds were US$3.67bn.
Also announced this morning is "the beginning of an open-ended share repurchase programme of Prosus and Naspers (NPN SJ) shares." The details are the key to everything. 


Prosus/Naspers - Operation Ouroboros Commences, And It's Big (Discount, Flows, Index Impact)

Prosus NV

Prosus/Naspers - Operation Ouroboros Commences, And It's Big (Discount, Flows, Index Impact)