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

Dai Nippon Printing – Activism On Easy Street

Toshiba (6502) - Funding Definitely Probably Now Secured - Next Steps and Risks

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Quiddity Advisors

Event-Driven

<ul>
<li>As mentioned yesterday <a href="https://www.smartkarma.com/insights/toshiba-6502-funding-definitely-probably-now-secured-next-steps-and-risks" target="_blank" rel="noopener">here</a> and more clearly by <a href="https://www.smartkarma.com/profiles/mio-kato" target="_blank" data-smartkarma-citation="accounts:713" rel="noopener">Mio Kato</a> in <em><a href="https://www.smartkarma.com/insights/toshiba-good-news" target="_blank" data-smartkarma-citation="insights:95267" rel="noopener">Toshiba – Good News?</a></em>, the Nikkei was strangely silent over the fact that loan details were agreed. </li>
<li>The Nikkei comes out with a surprise <a href="https://www.nikkei.com/article/DGXZQOUC038JT0T00C23A2000000/?n_cid=SNSTW001" target="_blank" rel="noopener">article</a> this morning saying they hear the Commitment Letter has been handed over. It also says the "Final Bid" is "about ¥2trln."</li>
<li>Toshiba shares quickly reacted badly quickly. The article deserves parsing and I try to clarify the arguments.</li>
</ul>


As mentioned yesterday here and more clearly by Mio Kato in Toshiba – Good News?, the Nikkei was strangely silent over the fact that loan details were agreed. 
The Nikkei comes out with a surprise article this morning saying they hear the Commitment Letter has been handed over. It also says the "Final Bid" is "about ¥2trln."
Toshiba shares quickly reacted badly quickly. The article deserves parsing and I try to clarify the arguments.


Toshiba Corp

Toshiba (6502) - Whoop! There It Is!