Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>I tally 40 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma.</li>
<li>Two new deals were discussed on Smartkarma this week: <a href="https://www.smartkarma.com/entities/dd-group-co-ltd" target="_blank" data-smartkarma-citation="entities:1439:1" rel="noopener">DD Group (3073 JP)</a>'s MBO and the <a href="https://www.smartkarma.com/entities/hanil-cement-co-ltd-new" target="_blank" data-smartkarma-citation="entities:27447:1" rel="noopener">Hanil Cement Co Ltd/New (300720 KS)</a>/<a href="https://www.smartkarma.com/entities/hanil-hyundai-cement-co-ltd" target="_blank" data-smartkarma-citation="entities:14406:1" rel="noopener">Hanil Hyundai Cement (006390 KS)</a> merger.</li>
<li>Key updates/news took place on <a href="https://www.smartkarma.com/entities/pointsbet-holdings-ltd" target="_blank" data-smartkarma-citation="entities:29102:1" rel="noopener">PointsBet Holdings (PBH AU)</a>, <a href="https://www.smartkarma.com/entities/adriatic-metals-plc" target="_blank" data-smartkarma-citation="entities:30797:1" rel="noopener">Adriatic Metals PLC (ADT AU)</a>, <a href="https://www.smartkarma.com/entities/abacus-storage-king" target="_blank" data-smartkarma-citation="entities:39857:1" rel="noopener">Abacus Storage King (ASK AU)</a>, <a href="https://www.smartkarma.com/entities/new-world-resources-ltd" target="_blank" data-smartkarma-citation="entities:9712:1" rel="noopener">New World Resources (NWC AU)</a>, and <a href="https://www.smartkarma.com/entities/zeekr-intelligent-technology-holding" target="_blank" data-smartkarma-citation="entities:36785:1" rel="noopener">ZEEKR (ZK US)</a>.</li>
</ul>


I tally 40 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma.
Two new deals were discussed on Smartkarma this week: DD Group (3073 JP)'s MBO and the Hanil Cement Co Ltd/New (300720 KS)/Hanil Hyundai Cement (006390 KS) merger.
Key updates/news took place on PointsBet Holdings (PBH AU), Adriatic Metals PLC (ADT AU), Abacus Storage King (ASK AU), New World Resources (NWC AU), and ZEEKR (ZK US).


(Mostly) Asia-Pac M&A: ZEEKR, DD Group, Hanil Cement, Adriatic Metals, Abacus Storage, PointsBet

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.</li>
<li>ECM developments: <a href="https://www.smartkarma.com/entities/national-securities-depository-ltd-nsdl" target="_blank" data-smartkarma-citation="entities:39939:1" rel="noopener">NSDL (NSDL IN)</a> is seeking to raise US$400 million</li>
<li>Event-Driven developments: <a href="https://www.smartkarma.com/entities/seven-i-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:1041:1" rel="noopener">Seven &amp; I Holdings (3382 JP)</a>, <a href="https://www.smartkarma.com/entities/shibaura-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:12704:1" rel="noopener">Shibaura Electronics (6957 JP)</a>, <a href="https://www.smartkarma.com/entities/dd-group-co-ltd" target="_blank" data-smartkarma-citation="entities:1439:1" rel="noopener">DD Group (3073 JP)</a>, <a href="https://www.smartkarma.com/entities/dickson-concepts-intl-ltd" target="_blank" data-smartkarma-citation="entities:5052:1" rel="noopener">Dickson Concepts Intl (113 HK)</a>, <a href="https://www.smartkarma.com/entities/abacus-storage-king" target="_blank" data-smartkarma-citation="entities:39857:1" rel="noopener">Abacus Storage King (ASK AU)</a>, <a href="https://www.smartkarma.com/entities/pointsbet-holdings-ltd" target="_blank" data-smartkarma-citation="entities:29102:1" rel="noopener">PointsBet Holdings (PBH AU)</a>.
</li>
</ul>


A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
ECM developments: NSDL (NSDL IN) is seeking to raise US$400 million
Event-Driven developments: Seven &amp; I Holdings (3382 JP), Shibaura Electronics (6957 JP), DD Group (3073 JP), Dickson Concepts Intl (113 HK), Abacus Storage King (ASK AU), PointsBet Holdings (PBH AU).



Weekly Deals Digest (20 Jul) - Seven & I, Shibaura, DD Group, Dickson, Abacus Storage, PointsBet

Financial News, Analysis and Data, FNArena

FNArena

Financial News, Analysis and Data

Online financial media company focused on Australian equities, with a global perspective

Equity Bottom-Up

<ul><li>A global perspective on what happened overnight</li></ul>

A global perspective on what happened overnight

Insignia Financial Ltd - The Overnight Report: New ASX Record Beckons

<ul>
<li>Back on the 20th June, <a href="https://www.smartkarma.com/entities/betr-entertainment-limited" target="_blank" data-smartkarma-citation="entities:41181:1" rel="noopener">betr (BBT AU)</a> tabled an all-scrip off-market Offer for <a href="https://www.smartkarma.com/entities/pointsbet-holdings-ltd" target="_blank" data-smartkarma-citation="entities:29102:1" rel="noopener">PointsBet (PBH AU)</a>, with no minimum acceptance condition, which they considered superior to <a href="https://www.smartkarma.com/entities/mixi-inc" target="_blank" data-smartkarma-citation="entities:602:1" rel="noopener">MIXI (2121 JP)</a>'s.</li>
<li>Which was a bold statement, as 3.81 new betr shares, at the time, was equivalent to A$1.143/share versus MIXI's A$1.20/share all-cash Offer. It's now worth A$1.03/share. </li>
<li>
Last night, betr released its Bidder's Statement. Terms are unchanged.  Offer opens ~31st July. PointsBet was quick to point out, again, the current (low) value of the scrip terms.</li>
</ul>


Back on the 20th June, betr (BBT AU) tabled an all-scrip off-market Offer for PointsBet (PBH AU), with no minimum acceptance condition, which they considered superior to MIXI (2121 JP)'s.
Which was a bold statement, as 3.81 new betr shares, at the time, was equivalent to A$1.143/share versus MIXI's A$1.20/share all-cash Offer. It's now worth A$1.03/share. 

Last night, betr released its Bidder's Statement. Terms are unchanged.  Offer opens ~31st July. PointsBet was quick to point out, again, the current (low) value of the scrip terms.


PointsBet (PBH AU): Betr Firms "Superior Offer". Expect The Board To Reject. Again

Endeavour Group /Australia / Equity Bottom-Up

Endeavour Group Ltd/Australia - The Overnight Report: Powell Tango Continues

Australia

Betr Entertainment Limited provides sports gaming platform. The Company offers online horse race and sports betting services. Betr serves customers in Australia.

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BETR Entertainment (BBT AU)

(Mostly) Asia-Pac M&A: ZEEKR, DD Group, Hanil Cement, Adriatic Metals, Abacus Storage, PointsBet

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

Weekly Deals Digest (20 Jul) - Seven & I, Shibaura, DD Group, Dickson, Abacus Storage, PointsBet

A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, NZ, Singapore, Japan, Indonesia,...

Arun George

Insignia Financial Ltd - The Overnight Report: New ASX Record Beckons

A global perspective on what happened overnight

FNArena

PointsBet (PBH AU): Betr Firms "Superior Offer". Expect The Board To Reject. Again

If small, illiquid arbs are your thing - and not in - get involved below MIXI's terms. PBH won't back betr's terms. And increasing the scrip ratio...

David Blennerhassett

Endeavour Group Ltd/Australia - The Overnight Report: Powell Tango Continues

A global perspective on what happened overnight

FNArena

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