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

WH Group - Long-Only Fundamental Investors Can Take Advantage Too

WH Group Offer Doc Out - This Little Piggy Went To Market

WH Group (288 HK): Today's Pig Is Tomorrow's Bacon?

WH Group Buyback Offer Announced - Strong Accretion Creates Accretion Risk

Quiddity Advisors

Event-Driven

<p>On 6 June, <a href="https://www.smartkarma.com/entities/wh-group-ltd" target="_blank" data-smartkarma-citation="entities:13200:1" rel="noopener">WH Group (288 HK)</a> announced a proposal for a Voluntary Buyback Offer. The shares popped, then fell. Then kept on falling. </p><section class="figure"><section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/213/993/original/Screenshot+2021-06-19+at+5.37.52+PM.png?1624095490" class="editor-image img-responsive" data-smartkarma-image-id="213993"></figure><p></p></section></section><p>When the announcement was made, I wrote in <a href="https://www.smartkarma.com/insights/wh-group-buyback-offer-announced-strong-accretion-creates-accretion-risk" target="_blank" data-smartkarma-citation="insights:52613" rel="noopener">WH Group Buyback Offer Announced - Strong Accretion Creates Accretion Risk</a> that the shares would not be considered expensive at a price which was higher than the previous close. </p><p>Since then, the shares have fallen to the low HK$7.00s and then, on Friday morning, below that level. </p><p>WHAT IS GOING ON???</p><p>That's easy. And it is part and parcel of this kind of situation. </p><p>But there is another element. Too many piggies going to market. </p>

On 6 June, WH Group (288 HK) announced a proposal for a Voluntary Buyback Offer. The shares popped, then fell. Then kept on falling. When the announcement was made, I wrote in WH Group Buyback Offer Announced - Strong Accretion Creates Accretion Risk that the shares would not be considered expensive at a price which was higher than the previous close. Since then, the shares have fallen to the low HK$7.00s and then, on Friday morning, below that level. WHAT IS GOING ON???That's easy. And it is part and parcel of this kind of situation. But there is another element. Too many piggies going to market. 

WH Group Vs Peers - Too Many Piggies Going to Market?