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

Guoco's Latest Offer Is Still the Wrong Price

StubWorld - Set-Up & Unwind Extremes: AVIC, Macau Plays, Guoco, Hang Lung

StubWorld - Set-Up & Unwind Extremes: Dah Sing, Japan Post, Sembcorp

Quiddity Advisors

Event-Driven

This week in StubWorld:
<ul class="">
<li>A marginal increase in <a href="https://www.smartkarma.com/entities/5290" target="_blank" data-smartkarma-citation="entities:5290:1">Guoco Group Ltd (53 HK)</a>'s stub value after the release of FY18 financials underline the current privatisation offer is light, yet it is trading with a view to complete.</li>
<li>
<a href="https://www.smartkarma.com/entities/50" target="_blank" data-smartkarma-citation="entities:50:1">Hang Lung (10 HK)</a> increases its holding in <a href="https://www.smartkarma.com/entities/49" target="_blank" data-smartkarma-citation="entities:49:1">Hang Lung Properties (101 HK)</a> to the highest level since 1Q04.</li>
</ul>
My comments on Guoco, Hang Lung and other Holdcos follow the weekly setup/unwind tables. 
These Holdco relationships trade with: 1) a minimum liquidity threshold of US$1mn on a 90-day moving average; and 2) a minimum 20% 'market capitalisation' threshold, whereby the value of the holding/opco held must be at least 20% of the parent's market cap.
(Market cap and liquidity noted below are in US$. Liquidity is assessed on a 3-month average)

This week in StubWorld:

A marginal increase in Guoco Group Ltd (53 HK)'s stub value after the release of FY18 financials underline the current privatisation offer is light, yet it is trading with a view to complete.

Hang Lung (10 HK) increases its holding in Hang Lung Properties (101 HK) to the highest level since 1Q04.

My comments on Guoco, Hang Lung and other Holdcos follow the weekly setup/unwind tables. 
These Holdco relationships trade with: 1) a minimum liquidity threshold of US$1mn on a 90-day moving average; and 2) a minimum 20% 'market capitalisation' threshold, whereby the value of the holding/opco held must be at least 20% of the parent's market cap.
(Market cap and liquidity noted below are in US$. Liquidity is assessed on a 3-month average)

StubWorld: Guoco's Offer Is Still Mispriced; Hang Lung Bumps Stake in HLP