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

Toyo Construction (1890) Tender Still Funky - A New (Perhaps Serious), but Secretive Large Holder

Toyo Construction (1890) - Mystery Holders Now 17% (Or More)

Infroneer (5076 JP) Tender Offer for Toyo Construction (1890 JP) Could Get Funky

Tokyo Kikai Seisakusho (6335) - Shareholders Approve Poison Pill

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/toyo-construction-co-ltd" target="_blank" data-smartkarma-citation="entities:1176:1" rel="noopener">Toyo Construction (1890 JP)</a>'s Independent Committee thought this deal was being done too cheaply, but they signed off on it. I thought it was cheap too. </li>
<li>I thought that a leading activist in the name would think so too, and try his hand because of his running start of 7+%. Huge volume Day1 sparked wider interest.</li>
<li>It has traded every day so far above terms so far but on the first full day of trading, the activist Murakami-san bailed. That changes things, but... it's still funky.</li>
</ul>



Toyo Construction (1890 JP)'s Independent Committee thought this deal was being done too cheaply, but they signed off on it. I thought it was cheap too. 
I thought that a leading activist in the name would think so too, and try his hand because of his running start of 7+%. Huge volume Day1 sparked wider interest.
It has traded every day so far above terms so far but on the first full day of trading, the activist Murakami-san bailed. That changes things, but... it's still funky.


Toyo Construction (1890) Tender Situation Indeed Getting Funky