Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Trio Industrial Electronics Group / Event-Driven

Trio Industrial Electronics Group (1710 HK)

<ul>
<li>In the past two months, <a href="https://www.smartkarma.com/entities/lotus-horizon-holdings-limited" target="_blank" data-smartkarma-citation="entities:49193:1" rel="noopener">Lotus Horizon (6063 HK)</a>, <a href="https://www.smartkarma.com/entities/wk-group-holdings-limited" target="_blank" data-smartkarma-citation="entities:49355:1" rel="noopener">WK (2535 HK)</a>, and <a href="https://www.smartkarma.com/entities/superland-group-holdings-limited" target="_blank" data-smartkarma-citation="entities:55388:1" rel="noopener">Superland (368 HK)</a> have been subject to conditional/unconditional (massive) takeunders. Expect the same for <a href="https://www.smartkarma.com/entities/kfm-kingdom-holdings-ltd" target="_blank" data-smartkarma-citation="entities:10030:1" rel="noopener">KFM (3816 HK)</a>.</li>
<li>Now fellow contractor/manufacturer, <a href="https://www.smartkarma.com/entities/trio-industrial-electronics-group-limited" target="_blank" data-smartkarma-citation="entities:35764:1" rel="noopener">Trio Industrial Electronics Group (1710 HK)</a>, is suspended pursuant to the Hong Kong Code on Takeovers and Mergers. Its share price is up ~567% since June-end.</li>
<li>Not a great look for the exchange. I've reached out to the HKEx to get their read.</li>
</ul>


In the past two months, Lotus Horizon (6063 HK), WK (2535 HK), and Superland (368 HK) have been subject to conditional/unconditional (massive) takeunders. Expect the same for KFM (3816 HK).
Now fellow contractor/manufacturer, Trio Industrial Electronics Group (1710 HK), is suspended pursuant to the Hong Kong Code on Takeovers and Mergers. Its share price is up ~567% since June-end.
Not a great look for the exchange. I've reached out to the HKEx to get their read.


More Contractor Craziness. The HKEx Needs To Open An Investigation

<ul>
<li>We know that Bain knew that their mid-September overbid for <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> did not meet the so-called KDDI Threshold, yet they made that bid anyway (¥3,720 vs EQT's ¥3,680).</li>
<li>IF <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> trades wide, consider going long the arb, but generally, need to participate unless it does trade wide. There're other more interesting deals out there.</li>
<li>Despite the lower-than-expected bid optics compared to prior negotiations, <a href="https://www.smartkarma.com/entities/renew-energy-global-plc-class-a" target="_blank" data-smartkarma-citation="entities:37038:1" rel="noopener">ReNew Energy Global (RNW US)</a>'s Offer looks done. All ducks are lined up. Just a question of timing on regulatory approvals.</li>
</ul>


We know that Bain knew that their mid-September overbid for Kakaku.com Inc (2371 JP) did not meet the so-called KDDI Threshold, yet they made that bid anyway (¥3,720 vs EQT's ¥3,680).
IF Sankei Real Estate (2972 JP) trades wide, consider going long the arb, but generally, need to participate unless it does trade wide. There're other more interesting deals out there.
Despite the lower-than-expected bid optics compared to prior negotiations, ReNew Energy Global (RNW US)'s Offer looks done. All ducks are lined up. Just a question of timing on regulatory approvals.


Last Week In Event SPACE: Kakaku.com, Sankei Real Estate, ReNew Energy Global, Korea Aerospace Ind

Hong Kong

Trio Industrial Electronics Group is a Hong Kong-based manufacturer and supplier of advanced industrial electronic components and products, specializing in power supply solutions. The company offers electro-mechanical products, switch-mode power supplies, smart chargers, and smart vending systems, and is expanding into EV charging and solar energy storage. It was founded in 1983 and is headquartered in Hong Kong.

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Trio Industrial Electronics Group (1710 HK)

More Contractor Craziness. The HKEx Needs To Open An Investigation

Trio's' shares are suspended, so there's nothing to do. You could scope out other small‑cap industrial with a concentrated ownership. But I'm...

David Blennerhassett

Last Week In Event SPACE: Kakaku.com, Sankei Real Estate, ReNew Energy Global, Korea Aerospace Ind

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

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