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

Historical TOPIX Inclusions:  What Flavor Performs Best?

Nippon Rietec's (1938) Gangbusters TOPIX Inclusion

Quiddity Advisors

Event-Driven

<ul>
<li>On Thursday after the close, an entity tied to Polaris Capital <strong><a href="https://contents.xj-storage.jp/xcontents/AS04028/58814795/3faf/4513/9e4f/f8e222e25105/140120240208529529.pdf" target="_blank" rel="noopener">announced</a></strong> an MBO of <a href="https://www.smartkarma.com/entities/welbe-inc" target="_blank" data-smartkarma-citation="entities:31118:1" rel="noopener">Welbe Inc (6556 JP)</a>. (Note this is <strong><a href="https://corporate.welbe.co.jp/ir/" target="_blank" rel="noopener">Welbe</a></strong> not <a href="https://www.smartkarma.com/entities/welby-inc" target="_blank" data-smartkarma-citation="entities:28892:1" rel="noopener">Welby Inc (4438 JP)</a>). </li>
<li>The MBO by Tender Offer is set at ¥1,089/share is at a 29.952% premium to Thursday's last trade. Coincidentally. It is well below where it traded 3-5 years ago.</li>
<li>If large domestic financial investors want a bump, we might see some fun, but I expect there is enough ownership willing to tender to get this over the hump.</li>
</ul>


On Thursday after the close, an entity tied to Polaris Capital announced an MBO of Welbe Inc (6556 JP). (Note this is Welbe not Welby Inc (4438 JP)). 
The MBO by Tender Offer is set at ¥1,089/share is at a 29.952% premium to Thursday's last trade. Coincidentally. It is well below where it traded 3-5 years ago.
If large domestic financial investors want a bump, we might see some fun, but I expect there is enough ownership willing to tender to get this over the hump.


Welbe Inc

Welbe (6556 JP) - MBO by Polaris