Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Shinko Electric Industries / Event-Driven

<ul>
<li>I tally 48 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.</li>
<li>Three new deals discussed this week on Smartkarma: All-scrip deals for <a href="https://www.smartkarma.com/entities/newmark-property-reit" target="_blank" data-smartkarma-citation="entities:40696:1" rel="noopener">Newmark Property REIT (NPR AU)</a> and <a href="https://www.smartkarma.com/entities/eureka-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:20321:1" rel="noopener">Eureka Group Holdings (EGH AU)</a>; and <a href="https://www.smartkarma.com/entities/payroll-inc" target="_blank" data-smartkarma-citation="entities:33434:1" rel="noopener">Payroll (4489 JP)</a>'s Tender Offer.</li>
<li>Key updates took place on: <a href="https://www.smartkarma.com/entities/orecorp-ltd" target="_blank" data-smartkarma-citation="entities:8120:1" rel="noopener">Orecorp Ltd (ORR AU)</a>, <a href="https://www.smartkarma.com/entities/weiqiao-textile-co" target="_blank" data-smartkarma-citation="entities:3690:1" rel="noopener">Weiqiao Textile Co (2698 HK)</a>, <a href="https://www.smartkarma.com/entities/mandala-multifinance-tbk-pt" target="_blank" data-smartkarma-citation="entities:12756:1" rel="noopener">Mandala Multifinance (MFIN IJ)</a>, <a href="https://www.smartkarma.com/entities/shinko-electric-industries" target="_blank" data-smartkarma-citation="entities:15066:1" rel="noopener">Shinko Electric Industries (6967 JP)</a> &amp; <a href="https://www.smartkarma.com/entities/jsr-corp" target="_blank" data-smartkarma-citation="entities:17620:1" rel="noopener">JSR Corp (4185 JP)</a>.</li>
</ul>


I tally 48 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
Three new deals discussed this week on Smartkarma: All-scrip deals for Newmark Property REIT (NPR AU) and Eureka Group Holdings (EGH AU); and Payroll (4489 JP)'s Tender Offer.
Key updates took place on: Orecorp Ltd (ORR AU), Weiqiao Textile Co (2698 HK), Mandala Multifinance (MFIN IJ), Shinko Electric Industries (6967 JP) &amp; JSR Corp (4185 JP).


(Mostly) Asia-Pac Weekly Risk Arb Wrap: Newmark, Payroll, Orecorp, Weiqiao, Mandala Multi, Shinko

<ul>
<li>On the 2 March 2023, <a href="https://www.smartkarma.com/entities/aspen-group" target="_blank" data-smartkarma-citation="entities:20680:1" rel="noopener">Aspen Group (APZ AU)</a> made an all-scrip NBIO for <a href="https://www.smartkarma.com/entities/eureka-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:20321:1" rel="noopener">Eureka Group (EGH AU)</a>, a senior accommodation rental play. The implied A$0.399/share Offer was subsequently rejected.  </li>
<li>Aspen held 13.7% of shares out at the time, having acquired the stake in December 2022. Aspen has returned with all-scrip off-market Offer with an improved implied price of A$0.431/share. </li>
<li>The Offer is contingent of Aspen getting to 50.1% of shares out. Eureka said it hasn't received a formal approach. I think they'll ask for more gruel.</li>
</ul>


On the 2 March 2023, Aspen Group (APZ AU) made an all-scrip NBIO for Eureka Group (EGH AU), a senior accommodation rental play. The implied A$0.399/share Offer was subsequently rejected.  
Aspen held 13.7% of shares out at the time, having acquired the stake in December 2022. Aspen has returned with all-scrip off-market Offer with an improved implied price of A$0.431/share. 
The Offer is contingent of Aspen getting to 50.1% of shares out. Eureka said it hasn't received a formal approach. I think they'll ask for more gruel.


Eureka Group (EGH AU): Aspen's Sweetened Offer

Australia

Eureka Group Holdings Ltd. is a real estate development and management company. The Company currently manages Australian property funds, comprising real estate investment funds and real estate development funds.

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Eureka Group Holdings (EGH AU)

(Mostly) Asia-Pac Weekly Risk Arb Wrap: Newmark, Payroll, Orecorp, Weiqiao, Mandala Multi, Shinko

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

Eureka Group (EGH AU): Aspen's Sweetened Offer

Currently (just) trading through the implied terms at A$0.45/share.I think Aspen needs to bump.If small arbs are your bent, look to buy around here...

David Blennerhassett

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