Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sbi-holdings-inc" target="_blank" data-smartkarma-citation="entities:10928:1" rel="noopener">SBI Holdings (8473 JP)</a> wants to buy 20% of <a href="https://www.smartkarma.com/entities/base-inc" target="_blank" data-smartkarma-citation="entities:28353:1" rel="noopener">BASE (4477 JP)</a> out of 46.7% likely available. That's unlikely at ¥340; they'll have to bump to get those shares.</li>
<li>
<a href="https://www.smartkarma.com/entities/continental-aerospace-technologies-holding-ltd" target="_blank" data-smartkarma-citation="entities:15249:1" rel="noopener">Continental Aerospace Technologies (232 HK)</a> has played out nicely. There's still money on the table - just a question mark on timing for the distribution from "surplus cash".</li>
<li>
<a href="https://www.smartkarma.com/entities/mitsubishi-chemical-holdings" target="_blank" data-smartkarma-citation="entities:12781:1" rel="noopener">Mitsubishi Chemical (4188 JP)</a>'s turnaround narrative sees it trading rich (implied stub &amp; simple ratio) to ~51%-held <a href="https://www.smartkarma.com/entities/nippon-sanso-holdings-corporation" target="_blank" data-smartkarma-citation="entities:15756:1" rel="noopener">Nippon Sanso Holdings (4091 JP)</a>'s steady-as-you-go narrative.</li>
</ul>



SBI Holdings (8473 JP) wants to buy 20% of BASE (4477 JP) out of 46.7% likely available. That's unlikely at ¥340; they'll have to bump to get those shares.

Continental Aerospace Technologies (232 HK) has played out nicely. There's still money on the table - just a question mark on timing for the distribution from "surplus cash".

Mitsubishi Chemical (4188 JP)'s turnaround narrative sees it trading rich (implied stub &amp; simple ratio) to ~51%-held Nippon Sanso Holdings (4091 JP)'s steady-as-you-go narrative.


Last Week In Event SPACE: SBI/BASE, Con Aero Tech, Mitsubishi Chem/Nippon Sanso, Swire Pac, Jollibee

Guotai Junan International / Event-Driven

<ul>
<li>For August 2026, 13 new transactions (firm and non-binding) were discussed on Smartkarma (by the Quiddity team) with an overall announced deal size of ~US$7bn.</li>
<li>
The average premium for the new transactions announced (or first discussed) in August was ~33%; and a year-to-date average of ~45%.</li>
<li>The average premiums for transactions in 2025, 2024, 2023, 2022, 2021, 2020, and 2019 were 49%, 43%, 39%, 41%, 33%, 31%, and 31%.</li>
</ul>


For August 2026, 13 new transactions (firm and non-binding) were discussed on Smartkarma (by the Quiddity team) with an overall announced deal size of ~US$7bn.

The average premium for the new transactions announced (or first discussed) in August was ~33%; and a year-to-date average of ~45%.
The average premiums for transactions in 2025, 2024, 2023, 2022, 2021, 2020, and 2019 were 49%, 43%, 39%, 41%, 33%, 31%, and 31%.


Asia-Pac M&A [August 2026 Wrap]: Baudroie, EQT, Guotai Junan, Peet, Reliance Worldwide, Yinson

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 in ECM and Event-Driven names that I track in 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/shein-global-holdings-limited" target="_blank" data-smartkarma-citation="entities:55372:1" rel="noopener">SHEIN Global Holdings (625 HK)</a> and <a href="https://www.smartkarma.com/entities/gcash" target="_blank" data-smartkarma-citation="entities:40108:1" rel="noopener">GCash (Mynt) (GCASH PM)</a> IPOs; <a href="https://www.smartkarma.com/entities/lintec-corp" target="_blank" data-smartkarma-citation="entities:5564:1" rel="noopener">Lintec Corp (7966 JP)</a> secondary offering.</li>
<li>Event-Driven developments: <a href="https://www.smartkarma.com/entities/kakaku-com-inc" target="_blank" data-smartkarma-citation="entities:7408:1" rel="noopener">Kakaku.com Inc (2371 JP)</a>, <a href="https://www.smartkarma.com/entities/dentsu-soken-inc" target="_blank" data-smartkarma-citation="entities:20535:1" rel="noopener">Dentsu Soken (4812 JP)</a>, <a href="https://www.smartkarma.com/entities/seed-co-ltd-tokyo" target="_blank" data-smartkarma-citation="entities:15534:1" rel="noopener">Seed Co Ltd/Tokyo (7743 JP)</a>, <a href="https://www.smartkarma.com/entities/carnaby-resources-ltd" target="_blank" data-smartkarma-citation="entities:4197:1" rel="noopener">Carnaby Resources (CNB AU)</a>, <a href="https://www.smartkarma.com/entities/peet-ltd" target="_blank" data-smartkarma-citation="entities:15586:1" rel="noopener">Peet Ltd (PPC AU)</a>, <a href="https://www.smartkarma.com/entities/suncorp-group-ltd" target="_blank" data-smartkarma-citation="entities:4218:1" rel="noopener">Suncorp (SUN AU)</a>. 
</li>
</ul>


A weekly summary of key developments in ECM and Event-Driven names that I track in Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India, and Chinese ADRs.
ECM developments: SHEIN Global Holdings (625 HK) and GCash (Mynt) (GCASH PM) IPOs; Lintec Corp (7966 JP) secondary offering.
Event-Driven developments: Kakaku.com Inc (2371 JP), Dentsu Soken (4812 JP), Seed Co Ltd/Tokyo (7743 JP), Carnaby Resources (CNB AU), Peet Ltd (PPC AU), Suncorp (SUN AU). 



Weekly Deals Digest (30 Aug) - Kakaku, Dentsu Soken, Seed, Carnaby, Peet, Suncorp, OUE, Shein

<ul>
<li>I tally 39 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma. Those arbs metrics and upcoming events are detailed below.</li>
<li>Five new deals were was discussed on Smartkarma this week: <a href="https://www.smartkarma.com/entities/reliance-worldwide-corp-ltd" target="_blank" data-smartkarma-citation="entities:22690:1" rel="noopener">Reliance Worldwide Corp (RWC AU)</a>, <a href="https://www.smartkarma.com/entities/ausgold-ltd" target="_blank" data-smartkarma-citation="entities:19133:1" rel="noopener">Ausgold Ltd (AUC AU)</a>, <a href="https://www.smartkarma.com/entities/eqt-holdings-ltd" target="_blank" data-smartkarma-citation="entities:7541:1" rel="noopener">EQT Holdings (EQT AU)</a>, <a href="https://www.smartkarma.com/entities/refine-co-ltd" target="_blank" data-smartkarma-citation="entities:34857:1" rel="noopener">Refine (377450 KS)</a>, and <a href="https://www.smartkarma.com/entities/baudroie-inc" target="_blank" data-smartkarma-citation="entities:44459:1" rel="noopener">Baudroie (4413 JP)</a>.</li>
<li>Key updates/news also took place on: <a href="https://www.smartkarma.com/entities/kakaku-com-inc" target="_blank" data-smartkarma-citation="entities:7408:1" rel="noopener">Kakaku.com Inc (2371 JP)</a>, <a href="https://www.smartkarma.com/entities/steadfast-group-ltd" target="_blank" data-smartkarma-citation="entities:8181:1" rel="noopener">Steadfast (SDF AU)</a>, <a href="https://www.smartkarma.com/entities/fleetpartners-group-ltd" target="_blank" data-smartkarma-citation="entities:339:1" rel="noopener">FleetPartners Group (FPR AU)</a>, <a href="https://www.smartkarma.com/entities/public-financial-holdings-limited" target="_blank" data-smartkarma-citation="entities:9760:1" rel="noopener">Public Financial (626 HK)</a>, and <a href="https://www.smartkarma.com/entities/european-lithium-ltd" target="_blank" data-smartkarma-citation="entities:10716:1" rel="noopener">European Lithium (EUR AU)</a>.</li>
</ul>


I tally 39 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma. Those arbs metrics and upcoming events are detailed below.
Five new deals were was discussed on Smartkarma this week: Reliance Worldwide Corp (RWC AU), Ausgold Ltd (AUC AU), EQT Holdings (EQT AU), Refine (377450 KS), and Baudroie (4413 JP).
Key updates/news also took place on: Kakaku.com Inc (2371 JP), Steadfast (SDF AU), FleetPartners Group (FPR AU), Public Financial (626 HK), and European Lithium (EUR AU).


Asia-Pac Weekly Wrap: Kakaku.com, Reliance Worldwide, Ausgold, EQT, Baudroie, Refine, Steadfast

<ul>
<li>I tally 32 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma. Those arbs metrics and upcoming events are detailed below.</li>
<li>No new deals were discussed on Smartkarma this week; however terms were firmed for <a href="https://www.smartkarma.com/entities/ooh-media-ltd" target="_blank" data-smartkarma-citation="entities:8662:1" rel="noopener">oOh!Media (OML AU)</a> and <a href="https://www.smartkarma.com/entities/renew-energy-global-plc" target="_blank" data-smartkarma-citation="entities:37038:1" rel="noopener">ReNew Energy Global (RNW US)</a>; and <a href="https://www.smartkarma.com/entities/golfzon-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:16376:1" rel="noopener">Golfzon (121440 KS)</a>'s MBO was reloaded.</li>
<li>Key updates/news also took place on: <a href="https://www.smartkarma.com/entities/fleetpartners-group-ltd" target="_blank" data-smartkarma-citation="entities:339:1" rel="noopener">FleetPartners Group (FPR AU)</a>, <a href="https://www.smartkarma.com/entities/cygnus-metals-limited" target="_blank" data-smartkarma-citation="entities:30504:1" rel="noopener">Cygnus Metals (CY5 AU)</a>, <a href="https://www.smartkarma.com/entities/accent-group-ltd" target="_blank" data-smartkarma-citation="entities:14283:1" rel="noopener">Accent Group (AX1 AU)</a>, <a href="https://www.smartkarma.com/entities/z-fin-limited" target="_blank" data-smartkarma-citation="entities:9999:1" rel="noopener">Z Fin (1168 HK)</a>, and <a href="https://www.smartkarma.com/entities/changhong-jiahua-holdings-ltd" target="_blank" data-smartkarma-citation="entities:5849:1" rel="noopener">Changhong Jiahua (3991 HK)</a>.</li>
</ul>


I tally 32 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma. Those arbs metrics and upcoming events are detailed below.
No new deals were discussed on Smartkarma this week; however terms were firmed for oOh!Media (OML AU) and ReNew Energy Global (RNW US); and Golfzon (121440 KS)'s MBO was reloaded.
Key updates/news also took place on: FleetPartners Group (FPR AU), Cygnus Metals (CY5 AU), Accent Group (AX1 AU), Z Fin (1168 HK), and Changhong Jiahua (3991 HK).


Asia-Pac Weekly Wrap: FleetPartners, OOh!Media; GOLFZON, Cygnus Metals, Accent Grp, ReNew Energy

Japan

Dentsu Soken Inc. offers integrated business solutions. The Company designs, develops, and provides enterprise system integration, think tank, social transformation support, and other solutions. Dentsu Soken serves customers in Japan.

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Dentsu Soken (4812 JP)

Last Week In Event SPACE: SBI/BASE, Con Aero Tech, Mitsubishi Chem/Nippon Sanso, Swire Pac, Jollibee

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

Asia-Pac M&A [August 2026 Wrap]: Baudroie, EQT, Guotai Junan, Peet, Reliance Worldwide, Yinson

For the month of August, 13 new deals were discussed on Smartkarma with an overall deal size of ~US$7bn. The average premium for the new deals...

David Blennerhassett

Weekly Deals Digest (30 Aug) - Kakaku, Dentsu Soken, Seed, Carnaby, Peet, Suncorp, OUE, Shein

A weekly summary of key developments in ECM and Event-Driven names that I track in Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia,...

Arun George

Asia-Pac Weekly Wrap: Kakaku.com, Reliance Worldwide, Ausgold, EQT, Baudroie, Refine, Steadfast

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 Wrap: FleetPartners, OOh!Media; GOLFZON, Cygnus Metals, Accent Grp, ReNew Energy

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

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