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

Yamauchi No.10 Announces Its Offer (If Toyo Accepts)

Toyo Construction Comes Out Fighting Against YFO, But Sincerely.

Toyo Construction - YFO Standstill Against TC Hostility

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

ToyoKen (1890) Mystery Bidder Is Yamauchi No. 10 Family Office - And That Changes Things

ToyoKen (1890) - YFO Proposes ¥1,000/Share So Now We Need Discussions

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

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> today released a change to its Target Opinion Statement for Infroneer's takeover bid at ¥770/share. It supports the tender itself, but withdraws its recommendation investors tender.</li>
<li>Infroneer refused to raise their price, so this effectively kills their bid (though they will extend). TC will engage with Yamauchi Family Office which has separately offered to bid ¥1,000/share.</li>
<li>The dynamics have now changed. This is a range trade, and will likely take time unless Infroneer says "I'll sell at ¥1,000/share."</li>
</ul>



Toyo Construction (1890 JP) today released a change to its Target Opinion Statement for Infroneer's takeover bid at ¥770/share. It supports the tender itself, but withdraws its recommendation investors tender.
Infroneer refused to raise their price, so this effectively kills their bid (though they will extend). TC will engage with Yamauchi Family Office which has separately offered to bid ¥1,000/share.
The dynamics have now changed. This is a range trade, and will likely take time unless Infroneer says "I'll sell at ¥1,000/share."


ToyoKen (1890)- Infroneer Declines to Bid Up, YFO Now In Driver's Seat - Now It's A Range Trade