Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

HK Type 4 license through Ballingal Investment Advisors Ltd. 

I'm a highly experienced sell-side analyst with in excess of 22 years of covering Asia Pacific equities, the past 19 years immersed in event strategies encompassing M&A risk arbitrage, directional long/short, stub trades and restructuring.  

My background also includes accountancy (liquidation/bankruptcy/receivership) earlier in my career and as a chief financial officer of a global commodity company based in the US and Mexico.

Pan-Asia Catalysts/Events

Thoughts on Amazon –What Does Its Valuation Tells Us?

Netflix & Amazon Expand in Korea – Not a Coincidence

Okja: The Fight Between Netflix Vs. CJ CGV

Quiddity Advisors

Event-Driven

<p><a href="https://www.smartkarma.com/entities/sina-corp-china" target="_blank" data-smartkarma-citation="entities:22691:1" rel="noopener">Sina Corp (Class A) (SINA US)</a> looks sets to join the growing list of Chinese companies seeking to delist in the US and relist, ostensibly in Hong Kong.</p>
<p>Yesterday, Sina <a href="http://ir.sina.com/index.php/static-files/69e95aee-2729-457f-be56-73628090b8ea" target="_blank" rel="noopener">announced</a> the receipt of a preliminary non-binding “going private” proposal<br>from New Wave - a company controlled by its chairman/CEO Charles Chao - at US$41/share,  a ~20% premium to the average closing price during the 30 trading days prior to the announcement.</p>
<p>SINA's key earnings driver is microblogger <a href="https://www.smartkarma.com/entities/weibo-corp-adr" target="_blank" data-smartkarma-citation="entities:3826:1" rel="noopener">Weibo Corp (Adr) (WB US)</a> - China's <a href="https://www.smartkarma.com/entities/twitter-inc" target="_blank" data-smartkarma-citation="entities:667:1" rel="noopener">Twitter Inc (TWTR US)</a> equivalent - in which it holds a ~45% equity stake but controls ~71% of the vote.</p>
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<p>This is, by no stretch, a slam dunk proposal. Optically, the indicative Offer price is highly opportunistic.  However, Chao controls ~58% of the voting power, and an Offer, should one unfold, requires two-thirds approval.</p>
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<p>This remains a non-binding proposal. </p>
<p>As always, more below the fold.</p>
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Sina Corp (Class A) (SINA US) looks sets to join the growing list of Chinese companies seeking to delist in the US and relist, ostensibly in Hong Kong.
Yesterday, Sina announced the receipt of a preliminary non-binding “going private” proposal from New Wave - a company controlled by its chairman/CEO Charles Chao - at US$41/share,  a ~20% premium to the average closing price during the 30 trading days prior to the announcement.
SINA's key earnings driver is microblogger Weibo Corp (Adr) (WB US) - China's Twitter Inc (TWTR US) equivalent - in which it holds a ~45% equity stake but controls ~71% of the vote.

This is, by no stretch, a slam dunk proposal. Optically, the indicative Offer price is highly opportunistic.  However, Chao controls ~58% of the voting power, and an Offer, should one unfold, requires two-thirds approval.


This remains a non-binding proposal. 
As always, more below the fold.


Sina Corp (Class A)

Sina Corp: Management Buyout Offer