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>
<a href="https://www.smartkarma.com/entities/tsumura-co" target="_blank" data-smartkarma-citation="entities:8042:1" rel="noopener">Tsumura &amp; Co (4540 JP)</a> shocked everyone a year ago when they announced an immediate large price hike across the board for its kampo medicines. The stock was +35% immediately.</li>
<li>It did not fall back. Now the stock is up 60% from a year ago and earnings are too. It's still &lt;10x PER. Now we get a ¥10bn secondary offering.</li>
<li>It's 12 days of ADV but not super heavy, and there is a buyback on the back end.</li>
</ul>



Tsumura &amp; Co (4540 JP) shocked everyone a year ago when they announced an immediate large price hike across the board for its kampo medicines. The stock was +35% immediately.
It did not fall back. Now the stock is up 60% from a year ago and earnings are too. It's still &lt;10x PER. Now we get a ¥10bn secondary offering.
It's 12 days of ADV but not super heavy, and there is a buyback on the back end.


Tsumura (4540 JP) Equity Offering - Easy To Swallow, and Not Expensive