Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Keisei Electric Railway Co / Event-Driven

<ul>
<li>The Palliser/<a href="https://www.smartkarma.com/entities/keisei-electric-railway-co" target="_blank" data-smartkarma-citation="entities:10876:1" rel="noopener">Keisei Electric Railway Co (9009 JP)</a> is an unconvincing trade. Avoid being long Keisei vs <a href="https://www.smartkarma.com/entities/oriental-land-co-ltd" target="_blank" data-smartkarma-citation="entities:13517:1" rel="noopener">Oriental Land (4661 JP)</a> except in short-term impact events. Avoid the drift trade also.</li>
<li>On the subject of activism, keep an eye on <a href="https://www.smartkarma.com/entities/china-merchants-china-direct-investments" target="_blank" data-smartkarma-citation="entities:6862:1" rel="noopener">China Merchants China Direct Investments (133 HK)</a>'s 20th June AGM. If Kan's re-election is rejected, this stock should gain more momentum.</li>
<li>A <a href="https://www.smartkarma.com/entities/sigma-healthcare-ltd" target="_blank" data-smartkarma-citation="entities:15966:1" rel="noopener">Sigma Healthcare (SIG AU)</a>/Chemist Warehouse merger carried regulatory risk. And now the ACCC has raised a raft of concerns. </li>
</ul>


The Palliser/Keisei Electric Railway Co (9009 JP) is an unconvincing trade. Avoid being long Keisei vs Oriental Land (4661 JP) except in short-term impact events. Avoid the drift trade also.
On the subject of activism, keep an eye on China Merchants China Direct Investments (133 HK)'s 20th June AGM. If Kan's re-election is rejected, this stock should gain more momentum.
A Sigma Healthcare (SIG AU)/Chemist Warehouse merger carried regulatory risk. And now the ACCC has raised a raft of concerns. 


Last Week in Event SPACE: Keisei Electric, CMCDI, Sigma Healthcare, Sun Corp, Segantii

Travis Lundy

<ul>
<li>Today at noon JST, <a href="https://www.smartkarma.com/entities/rs-technologies-co-ltd" target="_blank" data-smartkarma-citation="entities:26789:1" rel="noopener">Rs Technologies (3445 JP)</a> released an <a href="https://contents.xj-storage.jp/xcontents/AS02916/3c9631f2/323f/4c37/be18/3ffd624622ff/140120240614529116.pdf" target="_blank" rel="noopener">announcement</a> on TDNet, "Our policy regarding the tender offer for Helios Techno Holding Co., Ltd. shares"
</li>
<li>In it, they indicated that the price offered - ¥825/share - is a price which "fully returns to general shareholders the increased enterprise value that will result from [transaction] synergies."
</li>
<li>They acknowledge the market price is trading higher than the TOB Price, but say they have no plans to raise the Tender Offer Price. So now what? It depends.</li>
</ul>


Today at noon JST, Rs Technologies (3445 JP) released an announcement on TDNet, "Our policy regarding the tender offer for Helios Techno Holding Co., Ltd. shares"

In it, they indicated that the price offered - ¥825/share - is a price which "fully returns to general shareholders the increased enterprise value that will result from [transaction] synergies."

They acknowledge the market price is trading higher than the TOB Price, but say they have no plans to raise the Tender Offer Price. So now what? It depends.


Helios Techno Holding (6927) - RS Won't Bid Higher, Market Sees Value

Japan

Helios Techno Holding Co Ltd manufactures lamps including halogen and metal halide lamps.  The Company's products are used for projectors, automobiles, and home lighting equipment.

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Helios Techno Holding (6927 JP)

Last Week in Event SPACE: Keisei Electric, CMCDI, Sigma Healthcare, Sun Corp, Segantii

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

Helios Techno Holding (6927) - RS Won't Bid Higher, Market Sees Value

RS Tech launched a TOB on Helios Techno Hldgs 2 weeks ago. The price was too low. HTH has traded through terms, but now RS says no bump. The means...

Travis Lundy

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