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

Shinsei Bank (8303) - Now We Know Where the Float Is And It Is NOT In Murakami-San's Hands

Nikkei 225 Deletions/Additions in March(?) 2022 Due to TSE Market Structure Changes

SBI To Apply for Bank Holding Company License Within Year And Squeeze Out Shinsei Minorities

Shinsei Bank (8303): Does Murakami-San...? Or Doesn't He? That Is The Question.

Shinsei Bank (8303): Parsing Murakami-San's Bet

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>The SBI Tender obtained 56.92mm shares out of 58.21mm shares max. Pro-ration was 100% and SBI now owns 47.77%. </li>
<li>The data suggests Murakami-related holders tendered at least some of their shares. Real World Float (RWF) at the end of the coming week will be ~15-16% of TSO less Treasury.</li>
<li>Now we have a back-end and future squeeze-out trade which will be coloured by SBI taking control, "fair value" valuations, and the possibility of a pre-squeezeout squeeze of RWF.</li>
</ul>


The SBI Tender obtained 56.92mm shares out of 58.21mm shares max. Pro-ration was 100% and SBI now owns 47.77%. 
The data suggests Murakami-related holders tendered at least some of their shares. Real World Float (RWF) at the end of the coming week will be ~15-16% of TSO less Treasury.
Now we have a back-end and future squeeze-out trade which will be coloured by SBI taking control, "fair value" valuations, and the possibility of a pre-squeezeout squeeze of RWF.


SBI Tender on Shinsei Successful. Goes to 47.77%. The BIG Question Is... Who Owns The Float?

SBI Shinsei Bank

SBI Tender on Shinsei Successful. Goes to 47.77%. The BIG Question Is... Who Owns The Float?