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

Event-Driven

Restar Holdings Corporation / Event-Driven

Friday after the close, <a href="https://www.smartkarma.com/entities/563" target="_blank" data-smartkarma-citation="entities:563:1">Sony Corp (6758 JP)</a>-linked smallcap ($300-350mm each) semiconductor wholesalers <a href="https://www.smartkarma.com/entities/5466" target="_blank" data-smartkarma-citation="entities:5466:1">UKC Holdings (3156 JP)</a> and <a href="https://www.smartkarma.com/entities/7840" target="_blank" data-smartkarma-citation="entities:7840:1">Vitec Holdings (9957 JP)</a> announced they had agreed to merge as of April 1 2019, with UKC being the surviving entity. The UKC entity will spin off its device business to a Vitel sub called VGEL, and will become the parent holding company of three businesses - the integrated device business, the other UKC businesses, and the other Vitec businesses. The holding company will be renamed. Sony is the top shareholder (14.23%) at UKC and the second largest shareholder at Vitec (4.99%). The ratio is 1:1 meaning it appears there is a 0.6% spread to be earned vs today's close but that spread doesn't exist. Details below.This appears to be a straightforward merger of two smallcaps who look to survive in a competitive market and where they expect synergies from integrating their device businesses. There may be more here than meets the eye.

Friday after the close, Sony Corp (6758 JP)-linked smallcap ($300-350mm each) semiconductor wholesalers UKC Holdings (3156 JP) and Vitec Holdings (9957 JP) announced they had agreed to merge as of April 1 2019, with UKC being the surviving entity. The UKC entity will spin off its device business to a Vitel sub called VGEL, and will become the parent holding company of three businesses - the integrated device business, the other UKC businesses, and the other Vitec businesses. The holding company will be renamed. Sony is the top shareholder (14.23%) at UKC and the second largest shareholder at Vitec (4.99%). The ratio is 1:1 meaning it appears there is a 0.6% spread to be earned vs today's close but that spread doesn't exist. Details below.This appears to be a straightforward merger of two smallcaps who look to survive in a competitive market and where they expect synergies from integrating their device businesses. There may be more here than meets the eye.

UKC/Vitec Merger To Bring Murakami Gang Activism?