Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>There are currently 47  - mostly firm - transactions currently being discussed and analysed on Smartkarma.</li>
<li>Three new deals this week: <a href="https://www.smartkarma.com/entities/virtus-health-ltd" target="_blank" data-smartkarma-citation="entities:14776:1" rel="noopener">Virtus (VRT AU)</a>'s Offer from BGH; <a href="https://www.smartkarma.com/entities/apollo-tourism-leisure-ltd" target="_blank" data-smartkarma-citation="entities:24305:1" rel="noopener">Apollo Tourism (ATL AU)</a> / <a href="https://www.smartkarma.com/entities/tourism-holdings-ltd" target="_blank" data-smartkarma-citation="entities:2787:1" rel="noopener">Tourism (THL NZ)</a>'s merger; <a href="https://www.smartkarma.com/entities/shriram-transport-finance" target="_blank" data-smartkarma-citation="entities:253:1" rel="noopener">Shriram Transport (SHTF IN)</a> / <a href="https://www.smartkarma.com/entities/shriram-city-union-finance" target="_blank" data-smartkarma-citation="entities:2718:1" rel="noopener">Shriram City (SCUF IN)</a> merger.</li>
<li>Keys updates took place for: <a href="https://www.smartkarma.com/entities/shinsei-bank-ltd" target="_blank" data-smartkarma-citation="entities:16897:1" rel="noopener">Shinsei Bank (8303 JP)</a>, <a href="https://www.smartkarma.com/entities/first-service-holding-ltd" target="_blank" data-smartkarma-citation="entities:34884:1" rel="noopener">First Service Holding (2107 HK)</a>, and <a href="https://www.smartkarma.com/entities/kansai-super-market-ltd" target="_blank" data-smartkarma-citation="entities:15519:1" rel="noopener">Kansai Super Market (9919 JP)</a>. <a href="https://www.smartkarma.com/entities/senex-energy-ltd" target="_blank" data-smartkarma-citation="entities:18390:1" rel="noopener">Senex Energy (SXY AU)</a> also firmed its Offer with Posco.</li>
</ul>


There are currently 47  - mostly firm - transactions currently being discussed and analysed on Smartkarma.
Three new deals this week: Virtus (VRT AU)'s Offer from BGH; Apollo Tourism (ATL AU) / Tourism (THL NZ)'s merger; Shriram Transport (SHTF IN) / Shriram City (SCUF IN) merger.
Keys updates took place for: Shinsei Bank (8303 JP), First Service Holding (2107 HK), and Kansai Super Market (9919 JP). Senex Energy (SXY AU) also firmed its Offer with Posco.


Asia-Pac Weekly Risk Arb Summary: Virtus Health, Senex Energy, Shinsei Bank, Shiriam, Kansai Super

<ul>
<li>There are currently 45  - mostly firm - transactions currently being discussed and analysed on Smartkarma.</li>
<li>One new deal this week: <a href="https://www.smartkarma.com/entities/aeon-co-ltd" target="_blank" data-smartkarma-citation="entities:3:1" rel="noopener">Aeon (8267 JP)</a>-controlled supermarket companies <a href="https://www.smartkarma.com/entities/fuji-co-ltd-ehime" target="_blank" data-smartkarma-citation="entities:11419:1" rel="noopener">Fuji (8278 JP)</a> and <a href="https://www.smartkarma.com/entities/maxvalu-nishinihon-co-ltd" target="_blank" data-smartkarma-citation="entities:13743:1" rel="noopener">Maxvalu Nishinihon (8287 JP)</a> announced the Exchange Ratio for the first stage of their integration process.</li>
<li>Keys updates took place for: <a href="https://www.smartkarma.com/entities/shinsei-bank-ltd" target="_blank" data-smartkarma-citation="entities:16897:1" rel="noopener">Shinsei Bank (8303 JP)</a>, <a href="https://www.smartkarma.com/entities/sydney-airport" target="_blank" data-smartkarma-citation="entities:19063:1" rel="noopener">Sydney Airport (SYD AU)</a>, <a href="https://www.smartkarma.com/entities/kansai-super-market-ltd" target="_blank" data-smartkarma-citation="entities:15519:1" rel="noopener">Kansai Super Market (9919 JP)</a>, and <a href="https://www.smartkarma.com/entities/shanghai-jin-jiang-capital-company-limited" target="_blank" data-smartkarma-citation="entities:15781:1" rel="noopener">Shanghai Jin Jiang Capital Company Limited (2006 HK)</a>.</li>
</ul>


There are currently 45  - mostly firm - transactions currently being discussed and analysed on Smartkarma.
One new deal this week: Aeon (8267 JP)-controlled supermarket companies Fuji (8278 JP) and Maxvalu Nishinihon (8287 JP) announced the Exchange Ratio for the first stage of their integration process.
Keys updates took place for: Shinsei Bank (8303 JP), Sydney Airport (SYD AU), Kansai Super Market (9919 JP), and Shanghai Jin Jiang Capital Company Limited (2006 HK).


Asia-Pac Weekly Risk Arb Summary: Shinsei Bank, Sydney Airports, Kansi Super, Shanghai Jin Jiang

<ul>
<li>The pre-conditional Scheme from its founders and CVC for <a href="https://www.smartkarma.com/entities/razer-inc" target="_blank" data-smartkarma-citation="entities:24380:1" rel="noopener">Razer (1337 HK)</a> at $2.82/share, is a 55.8% premium to the undisturbed price, but below the 2017 IPO price of $3.88.</li>
<li>
<a href="https://www.smartkarma.com/entities/ck-hutchison-holdings-ltd" target="_blank" data-smartkarma-citation="entities:132:1" rel="noopener">CK Hutchison Holdings (1 HK)</a>'s implied stub and the simple ratio (CKH/ <a href="https://www.smartkarma.com/entities/ck-infrastructure-holdings-l" target="_blank" data-smartkarma-citation="entities:163:1" rel="noopener">CK Infrastructure Holdings (1038 HK)</a>) are currently at an all-time low.</li>
<li>The local government is now getting practically involved in the resolution of the financial problems of <a href="https://www.smartkarma.com/entities/china-evergrande-group" target="_blank" data-smartkarma-citation="entities:479:1" rel="noopener">Evergrande (3333 HK)</a>and <a href="https://www.smartkarma.com/entities/china-evergrande-new-energy-vehicle-group-ltd" target="_blank" data-smartkarma-citation="entities:713:1" rel="noopener">Evergrande Auto (708 HK)</a>. </li>
</ul>


The pre-conditional Scheme from its founders and CVC for Razer (1337 HK) at $2.82/share, is a 55.8% premium to the undisturbed price, but below the 2017 IPO price of $3.88.

CK Hutchison Holdings (1 HK)'s implied stub and the simple ratio (CKH/ CK Infrastructure Holdings (1038 HK)) are currently at an all-time low.
The local government is now getting practically involved in the resolution of the financial problems of Evergrande (3333 HK)and Evergrande Auto (708 HK). 


Last Week in Event SPACE: Razer Inc, Evergrande Land/Auto, CK Hutchison, Grab SPAC

<ul>
<li>There are currently 47  - mostly firm - transactions currently being discussed and analysed on Smartkarma.</li>
<li>Three new deals this week: <a href="https://www.smartkarma.com/entities/razer-inc" target="_blank" data-smartkarma-citation="entities:24380:1" rel="noopener">Razer Inc (1337 HK)</a>'s Scheme Offer; and <a href="https://www.smartkarma.com/entities/shin-keisei-electric-railway" target="_blank" data-smartkarma-citation="entities:6262:1" rel="noopener">Shin Keisei Electric (9014 JP)</a> cleaning up two of its subsidiaries, </li>
<li>Keys updates took place for: <a href="https://www.smartkarma.com/entities/australian-pharmaceutical-industries-limited" target="_blank" data-smartkarma-citation="entities:19399:1" rel="noopener">Australian Pharmaceutical Industries (API AU)</a>, <a href="https://www.smartkarma.com/entities/hitachi-metals-ltd" target="_blank" data-smartkarma-citation="entities:8561:1" rel="noopener">Hitachi Metals (5486 JP)</a>, and <a href="https://www.smartkarma.com/entities/golden-throat-holdings-group" target="_blank" data-smartkarma-citation="entities:22664:1" rel="noopener">Golden Throat Holdings (6896 HK)</a>.</li>
</ul>


There are currently 47  - mostly firm - transactions currently being discussed and analysed on Smartkarma.
Three new deals this week: Razer Inc (1337 HK)'s Scheme Offer; and Shin Keisei Electric (9014 JP) cleaning up two of its subsidiaries, 
Keys updates took place for: Australian Pharmaceutical Industries (API AU), Hitachi Metals (5486 JP), and Golden Throat Holdings (6896 HK).


Asia-Pac Weekly Risk Arb Summary: Razer, Daibiru, Utoc, Aussie Pharma, Hitachi Metals, Golden Throat

<ul>
<li>For the month of November, 14 new deals (firm and non-binding) were discussed on Smartkarma with an overall announced deal size of ~US$20bn.</li>
<li>The average premium for the new deals announced (or first discussed) in November was ~34%, with a year-to-date average of ~32% (153 deals &amp; total deal size of US$278bn).</li>
<li>This compares to the average premium for all deals in 2020 (158 deals) and 2019 (145 deals) of 31% and 31.5% respectively.</li>
</ul>


For the month of November, 14 new deals (firm and non-binding) were discussed on Smartkarma with an overall announced deal size of ~US$20bn.
The average premium for the new deals announced (or first discussed) in November was ~34%, with a year-to-date average of ~32% (153 deals &amp; total deal size of US$278bn).
This compares to the average premium for all deals in 2020 (158 deals) and 2019 (145 deals) of 31% and 31.5% respectively.


China

Suchuang Gas Corporation Limited is a China-based investment holding company primarily engaged in natural gas businesses. Its core activities include the distribution and sale of piped natural gas, natural gas transmission services, and gas pipeline construction and installation. The company also constructs and operates natural gas filling stations. Founded in 2002, it is headquartered in Suzhou, People's Republic of China.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Suchuang Gas (1430 HK)

Asia-Pac Weekly Risk Arb Summary: Virtus Health, Senex Energy, Shinsei Bank, Shiriam, Kansai Super

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

Asia-Pac Weekly Risk Arb Summary: Shinsei Bank, Sydney Airports, Kansi Super, Shanghai Jin Jiang

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

Last Week in Event SPACE: Razer Inc, Evergrande Land/Auto, CK Hutchison, Grab SPAC

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

Asia-Pac Weekly Risk Arb Summary: Razer, Daibiru, Utoc, Aussie Pharma, Hitachi Metals, Golden Throat

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

(Mostly) Asia M&A: November 2021 Roundup

In November, 14 new deals were discussed on Smartkarma with an announced deal size of ~US$20bn. The average premium for the new deals announced was...

David Blennerhassett

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)