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

Link REIT (823) - Anchors Aweigh! Fair Weather Sailing Ahead

Swire Coke Sale Special Div Impacts B/A Ratio

Swire (19 HK / 87 HK) Announces NEW, Bigger, Better Buyback

Swire B Vs A - It Bounced Before, It Can Bounce Again - A 19 Year Low On the Ratio In Sight

StubWorld: Swire Pac/Prop & Cathay FY22 Results

Quiddity Advisors

Event-Driven

<ul>
<li>After two months of zero buybacks under their HK$4bn buyback programme, on Friday <a href="https://www.smartkarma.com/entities/swire-pacific-ltd-cl-a" target="_blank" data-smartkarma-citation="entities:10433:1" rel="noopener">Swire Pacific (A) (19 HK)</a> | <a href="https://www.smartkarma.com/entities/swire-pacific-ltd" target="_blank" data-smartkarma-citation="entities:23726:1" rel="noopener">Swire Pacific (B) (87 HK)</a> again bought back shares.</li>
<li>Ostensibly, it was as Swire A shares fell below HK$60/share. They were 65% of B volume and 51% of A volume on Friday - not shy about their return.</li>
<li>Assuming participation patterns normalise and the shares don't bounce back above the self-imposed limit, the buyback will probably last 6-7 weeks more. The div arb is real if you hold. </li>
</ul>


After two months of zero buybacks under their HK$4bn buyback programme, on Friday Swire Pacific (A) (19 HK) | Swire Pacific (B) (87 HK) again bought back shares.
Ostensibly, it was as Swire A shares fell below HK$60/share. They were 65% of B volume and 51% of A volume on Friday - not shy about their return.
Assuming participation patterns normalise and the shares don't bounce back above the self-imposed limit, the buyback will probably last 6-7 weeks more. The div arb is real if you hold. 


Swire Back To Buying Back - One-Third To Go