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

Sawada/HS (8699) - A NON-Salutary Development

Sawada/HS Holdings (8699) - A Quite Salutary Development.. And We Wait...

HS/Sawada:  Khan Bank IPO Decided, and Earnings in A Week To Show Sharp Gain in BVPS/Liquidity

Sawada (8699) - Upsilon To End Its Tender, and Khan Bank Applies to List

Sawada - Upsilon Gets Its Stake And Still We Wait

Be Careful of Expectations on Sawada (8699)

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sawada-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:7311:1" rel="noopener">Sawada Holdings (8699 JP)</a> is not done. The Upsilon investors wanted a 50+% control TOB but rules... The tender foundered, but on Oct 1 they got ~33% with MCB approval.</li>
<li>There is an EGM today, to approve AoI changes, a new board slate, a name change to HS Holdings (which tells you something). There is a new Advisory Board too.</li>
<li>And last night, the company announced an asset sale worth 20% of book. It is worth understanding the implications.</li>
</ul>



Sawada Holdings (8699 JP) is not done. The Upsilon investors wanted a 50+% control TOB but rules... The tender foundered, but on Oct 1 they got ~33% with MCB approval.
There is an EGM today, to approve AoI changes, a new board slate, a name change to HS Holdings (which tells you something). There is a new Advisory Board too.
And last night, the company announced an asset sale worth 20% of book. It is worth understanding the implications.


Sawada (8699 JP) Sells A Big Asset at > 2.5x Book; Now New Directors and New Advisory Board