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

Terumo (4543 JP) Secondary Offering - Smaller Than It Looks

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/terumo-corp" target="_blank" data-smartkarma-citation="entities:6708:1" rel="noopener">Terumo Corp (4543 JP)</a> was able to hang in well after the announcement, up until the day or two before pricing date, then the shares were walloped into Pricing. </li>
<li>After pricing, they have fallen and erased most of the discount. That's an opportunity. </li>
<li>The shares have underperformed Peers, and there is flow to come. This deal was, as advertised, smaller than it first appeared. </li>
</ul>



Terumo Corp (4543 JP) was able to hang in well after the announcement, up until the day or two before pricing date, then the shares were walloped into Pricing. 
After pricing, they have fallen and erased most of the discount. That's an opportunity. 
The shares have underperformed Peers, and there is flow to come. This deal was, as advertised, smaller than it first appeared. 


Taking Advantage of Terumo (4543) Weakness And After-Offering Flow