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

SCSK (9719 JP) Launches Buyout of Subsidiary VeriServe (3724 JP)

Quiddity Advisors

Event-Driven

Today after the close, <a href="https://www.smartkarma.com/entities/5380" target="_blank" data-smartkarma-citation="entities:5380:1">Sumitomo Corp (8053 JP)</a> consolidated subsidiary <a href="https://www.smartkarma.com/entities/19996" target="_blank" data-smartkarma-citation="entities:19996:1">SCSK Corp (9719 JP)</a> announced a Tender Offer to buy out minorities in <a href="https://www.smartkarma.com/entities/1209" target="_blank" data-smartkarma-citation="entities:1209:1">JIEC Co Ltd (4291 JP)</a>.SCSK currently holds 4,768,000 shares or 69.52% of voting rights. The Tender Offer is at ¥2,750/share which is a 39.3% premium to the last traded price of the day before the announcement (¥1,974), a 38% premium to the one-month average, and a 41% premium to the 3-month and 6-month averages.It is being done at about 7.5x TTM EV/EBITDA.This is one of those situations with which the currently underway METI M&amp;A Fairness enquiry might have a problem.

Today after the close, Sumitomo Corp (8053 JP) consolidated subsidiary SCSK Corp (9719 JP) announced a Tender Offer to buy out minorities in JIEC Co Ltd (4291 JP).SCSK currently holds 4,768,000 shares or 69.52% of voting rights. The Tender Offer is at ¥2,750/share which is a 39.3% premium to the last traded price of the day before the announcement (¥1,974), a 38% premium to the one-month average, and a 41% premium to the 3-month and 6-month averages.It is being done at about 7.5x TTM EV/EBITDA.This is one of those situations with which the currently underway METI M&amp;A Fairness enquiry might have a problem.

SCSK (9719 JP) Launches Buyout of Subsidiary JIEC

Jiec Co Ltd

SCSK (9719 JP) Launches Buyout of Subsidiary JIEC