Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

<p>Japanese processed food manufacturer <a href="https://www.smartkarma.com/entities/kibun-foods-inc" target="_blank" data-smartkarma-citation="entities:33019:1" rel="noopener">Kibun Foods Inc (2933 JP)</a> was listed in the First Section of the Tokyo Stock Exchange (TSE) on 13th April 2021.</p>
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<p>When a company gets listed in the First Section of TSE, it subsequently gets included in the TOPIX Index and as a result, TOPIX-tracking funds will have to purchase the stock during an Inclusion Event which presents interesting trading opportunities for active investors to generate sharp market-neutral returns in the space of few trading days. Alternatively, this can also be considered as a key point in time where short-term IPO investors could decide if they wanted to exit their positions by utilizing this liquidity event.</p>
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<p>Below is a look at the timeline and the parameters of the Inclusion Event and the potential trading opportunities surrounding it. </p>
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Japanese processed food manufacturer Kibun Foods Inc (2933 JP) was listed in the First Section of the Tokyo Stock Exchange (TSE) on 13th April 2021.

When a company gets listed in the First Section of TSE, it subsequently gets included in the TOPIX Index and as a result, TOPIX-tracking funds will have to purchase the stock during an Inclusion Event which presents interesting trading opportunities for active investors to generate sharp market-neutral returns in the space of few trading days. Alternatively, this can also be considered as a key point in time where short-term IPO investors could decide if they wanted to exit their positions by utilizing this liquidity event.


Below is a look at the timeline and the parameters of the Inclusion Event and the potential trading opportunities surrounding it. 


Japan

Kibun Foods Inc. manufactures and distributes food products. The Company produces noddles, sauces, fish pastes, desserts, and other products. Kibun Foods offers its products to major department stores nationwide.

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Kibun Foods Inc (2933 JP)

TOPIX Inclusion: Kibun Foods (2933 JP)

The Kibun Foods IPO has done very well post-listing. There is a TOPIX inclusion at the end of the month. Historically, Kibun is trading as an...

Janaghan Jeyakumar, CFA

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