Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>I tally 38 - 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>Two new deal were discussed on Smartkarma this week: <a href="https://www.smartkarma.com/entities/sunway-bhd" target="_blank" data-smartkarma-citation="entities:11025:1" rel="noopener">Sunway Bhd (SWB MK)</a>'s Offer for <a href="https://www.smartkarma.com/entities/ijm-corp-bhd" target="_blank" data-smartkarma-citation="entities:16784:1" rel="noopener">IJMCorp (IJM MK)</a>, and <a href="https://www.smartkarma.com/entities/wuxi-xdc-cayman-inc" target="_blank" data-smartkarma-citation="entities:39917:1" rel="noopener">WuXi XDC  (2268 HK)</a>'s tilt for <a href="https://www.smartkarma.com/entities/biodlink-international" target="_blank" data-smartkarma-citation="entities:28192:1" rel="noopener">BioDlink International (1875 HK)</a>.</li>
<li>Key updates/news also took place on: <a href="https://www.smartkarma.com/entities/dongfeng-motor-group-co-ltd-h" target="_blank" data-smartkarma-citation="entities:910:1" rel="noopener">Dongfeng Motor (489 HK)</a>, <a href="https://www.smartkarma.com/entities/minmetals-land-ltd" target="_blank" data-smartkarma-citation="entities:1917:1" rel="noopener">Minmetals Land (230 HK)</a>, and <a href="https://www.smartkarma.com/entities/low-keng-huat-singapore-ltd" target="_blank" data-smartkarma-citation="entities:1928:1" rel="noopener">Low Keng Huat Singapore (LKH SP)</a>.</li>
</ul>


I tally 38 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma. Those arbs metrics and upcoming events are detailed below.
Two new deal were discussed on Smartkarma this week: Sunway Bhd (SWB MK)'s Offer for IJMCorp (IJM MK), and WuXi XDC  (2268 HK)'s tilt for BioDlink International (1875 HK).
Key updates/news also took place on: Dongfeng Motor (489 HK), Minmetals Land (230 HK), and Low Keng Huat Singapore (LKH SP).


Asia-Pac M&A Weekly Wrap: Toyota Industries, BioDlink, IJM Corp, Dongfeng Motor, Minmetals Land

<ul>
<li>I tally 37 - 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>Two new deals were discussed on Smartkarma this week: <a href="https://www.smartkarma.com/entities/sankei-real-estate-inc" target="_blank" data-smartkarma-citation="entities:35239:1" rel="noopener">Sankei Real Estate (2972 JP)</a>and <a href="https://www.smartkarma.com/entities/hisamitsu-pharmaceutical-co" target="_blank" data-smartkarma-citation="entities:17008:1" rel="noopener">Hisamitsu Pharmaceutical Co (4530 JP)</a>.</li>
<li>Key updates/news also took place on: <a href="https://www.smartkarma.com/entities/ane-cayman-inc" target="_blank" data-smartkarma-citation="entities:35025:1" rel="noopener">ANE Cayman Inc (9956 HK)</a>, <a href="https://www.smartkarma.com/entities/jinke-smart-services-group-co" target="_blank" data-smartkarma-citation="entities:29214:1" rel="noopener">Jinke Smart Services (9666 HK)</a>, <a href="https://www.smartkarma.com/entities/tsuruha-holdings-inc" target="_blank" data-smartkarma-citation="entities:9536:1" rel="noopener">Tsuruha Holdings (3391 JP)</a>, and <a href="https://www.smartkarma.com/entities/hang-seng-bank-ltd" target="_blank" data-smartkarma-citation="entities:24:1" rel="noopener">Hang Seng Bank (11 HK)</a>.</li>
</ul>


I tally 37 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma. Those arbs metrics and upcoming events are detailed below.
Two new deals were discussed on Smartkarma this week: Sankei Real Estate (2972 JP)and Hisamitsu Pharmaceutical Co (4530 JP).
Key updates/news also took place on: ANE Cayman Inc (9956 HK), Jinke Smart Services (9666 HK), Tsuruha Holdings (3391 JP), and Hang Seng Bank (11 HK).


Asia-Pac M&A Weekly Wrap:ANE Cayman, Tsuruha/Aeon, Jinke Smart, Sankei Real Estate, Hisamitsu Pharma

Mandarin Oriental International / Event-Driven

Mandarin Oriental International (MAND SP)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mandarin-oriental-international-ltd" target="_blank" data-smartkarma-citation="entities:4773:1" rel="noopener">Mandarin Oriental (MAND SP)</a>'s  OCB sale has completed. The OCB dividend will be paid on the 22th Jan (record date 9th Jan).</li>
<li>
<a href="https://www.smartkarma.com/entities/robex-resources-inc" target="_blank" data-smartkarma-citation="entities:45880:1" rel="noopener">Robex Resources (RXR AU)</a> shareholders approve merger with <a href="https://www.smartkarma.com/entities/predictive-discovery-ltd" target="_blank" data-smartkarma-citation="entities:15374:1" rel="noopener">Predictive Discovery (PDI AU)</a>. This still needs consent from the governments of Guinea and Mali.</li>
<li>
<a href="https://www.smartkarma.com/entities/smart-share-global-limited" target="_blank" data-smartkarma-citation="entities:32217:1" rel="noopener">Smart Share Global (EM US)</a> shareholders approved the Offer. Go figure.</li>
</ul>



Mandarin Oriental (MAND SP)'s  OCB sale has completed. The OCB dividend will be paid on the 22th Jan (record date 9th Jan).

Robex Resources (RXR AU) shareholders approve merger with Predictive Discovery (PDI AU). This still needs consent from the governments of Guinea and Mali.

Smart Share Global (EM US) shareholders approved the Offer. Go figure.


Last Week In Event SPACE: Mandarin Oriental, Smart Share Global, Echo Marketing, 2025 M&A Wrap

<ul>
<li>I tally 36 - 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 - no suprises there.</li>
<li>Key updates/news also took place on: <a href="https://www.smartkarma.com/entities/predictive-discovery-ltd" target="_blank" data-smartkarma-citation="entities:15374:1" rel="noopener">Predictive Discovery (PDI AU)</a>, <a href="https://www.smartkarma.com/entities/hainan-meilan-international-airport-company-limited" target="_blank" data-smartkarma-citation="entities:12545:1" rel="noopener">Hainan Meilan International Airport (357 HK)</a>, <a href="https://www.smartkarma.com/entities/low-keng-huat-singapore-ltd" target="_blank" data-smartkarma-citation="entities:1928:1" rel="noopener">Low Keng Huat Singapore (LKH SP)</a>, and <a href="https://www.smartkarma.com/entities/hogy-medical-co-ltd" target="_blank" data-smartkarma-citation="entities:10493:1" rel="noopener">Hogy Medical (3593 JP)</a>.</li>
</ul>


I tally 36 - 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 - no suprises there.
Key updates/news also took place on: Predictive Discovery (PDI AU), Hainan Meilan International Airport (357 HK), Low Keng Huat Singapore (LKH SP), and Hogy Medical (3593 JP).


Asia-Pac M&A Weekly Wrap: Hogy Medical, Predictive Discovery, Meilan Airport, Low Keng Huat

<ul>
<li>For December 2025, 5 new transactions (firm and non-binding) were discussed on Smartkarma (by the Quiddity team) with an overall announced deal size of just ~US$3bn.</li>
<li>The average premium for the new transactions announced (or first discussed) in December was ~87%, with a year-to-date average of ~49%.</li>
<li>The average premiums for transactions in 2024 (124 transactions), 2023 (114), 2022 (104), 2021 (143), 2020 (133), and 2019 (110) were 43%, 39%, 41%, 33%, 31%, and 31%.</li>
</ul>


For December 2025, 5 new transactions (firm and non-binding) were discussed on Smartkarma (by the Quiddity team) with an overall announced deal size of just ~US$3bn.
The average premium for the new transactions announced (or first discussed) in December was ~87%, with a year-to-date average of ~49%.
The average premiums for transactions in 2024 (124 transactions), 2023 (114), 2022 (104), 2021 (143), 2020 (133), and 2019 (110) were 43%, 39%, 41%, 33%, 31%, and 31%.


(Mostly) Asia M&A, Dec 2025 Wrap: ANE Cayman, Mandom, Predictive Discovery, Hogy Medical

Australia

PDI Gold Limited operates as a precious metal mining company. The Company discovers, develops, and produces gold. PDI Gold serves customers in Australia and West Africa.

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PDI Gold (PDI AU)

Asia-Pac M&A Weekly Wrap: Toyota Industries, BioDlink, IJM Corp, Dongfeng Motor, Minmetals Land

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 M&A Weekly Wrap:ANE Cayman, Tsuruha/Aeon, Jinke Smart, Sankei Real Estate, Hisamitsu Pharma

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 M&A Weekly Wrap: Hogy Medical, Predictive Discovery, Meilan Airport, Low Keng Huat

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

(Mostly) Asia M&A, Dec 2025 Wrap: ANE Cayman, Mandom, Predictive Discovery, Hogy Medical

For the month of Dec, 5 new deals were discussed on Smartkarma with an overall deal size of just ~US$3bn. The average premium for the new deals...

David Blennerhassett

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Asia-Pac M&A Weekly Wrap: Toyota Industries, BioDlink, IJM Corp, Dongfeng Motor, Minmetals Land

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 M&A Weekly Wrap:ANE Cayman, Tsuruha/Aeon, Jinke Smart, Sankei Real Estate, Hisamitsu Pharma

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

Last Week In Event SPACE: Mandarin Oriental, Smart Share Global, Echo Marketing, 2025 M&A Wrap

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 Weekly Wrap: Hogy Medical, Predictive Discovery, Meilan Airport, Low Keng Huat

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

(Mostly) Asia M&A, Dec 2025 Wrap: ANE Cayman, Mandom, Predictive Discovery, Hogy Medical

For the month of Dec, 5 new deals were discussed on Smartkarma with an overall deal size of just ~US$3bn. The average premium for the new deals...

David Blennerhassett