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

Quiddity Advisors

Equity Capital Markets

<ul>
<li>Today, <a href="https://www.smartkarma.com/entities/toenec-corp" target="_blank" data-smartkarma-citation="entities:9957:1" rel="noopener">Toenec Corp (1946 JP)</a> - an integrated facilities company 50+% owned by <a href="https://www.smartkarma.com/entities/chubu-electric-power-co-inc" target="_blank" data-smartkarma-citation="entities:14574:1" rel="noopener">Chubu Electric Power Co (9502 JP)</a> announced Chubu EPCO would sell down 7.7% to go to 43%+.</li>
<li>This is surprising. It suggests there are more selldowns to come. It's also "big" at 88 days of ADV and about 26% of Max Real World Float (85% retail).</li>
<li>This is an odd sell-down. Chubu EPCO obviously doesn't want to buy it in. That means overhang for years.</li>
</ul>


Today, Toenec Corp (1946 JP) - an integrated facilities company 50+% owned by Chubu Electric Power Co (9502 JP) announced Chubu EPCO would sell down 7.7% to go to 43%+.
This is surprising. It suggests there are more selldowns to come. It's also "big" at 88 days of ADV and about 26% of Max Real World Float (85% retail).
This is an odd sell-down. Chubu EPCO obviously doesn't want to buy it in. That means overhang for years.


Toenec (1946 JP) Offering - Nearly $50mm on SmallCap Utility Infra Co as Chubu EPCO Sells Down