Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/krungthai-card-pcl" target="_blank" data-smartkarma-citation="entities:20097:1" rel="noopener">Krungthai Card (KTC TB)</a> is a pretty straightforward short term trade. Basically the second largest shareholder, Prakitchaiwattana, got margin called, and shares fell limit down. Twice.</li>
<li>South Korean private equity firm VIG Partners tables an Offer for beauty device company <a href="https://www.smartkarma.com/entities/viol-co-ltd" target="_blank" data-smartkarma-citation="entities:41010:1" rel="noopener">VIOL (335890 KS)</a>, whose major shareholder, <a href="https://www.smartkarma.com/entities/dms-co-ltd" target="_blank" data-smartkarma-citation="entities:2132:1" rel="noopener">DMS (068790 KS)</a>, faces allegations of unfair internal transactions.</li>
<li>
<a href="https://www.smartkarma.com/entities/melco-international-development-ltd" target="_blank" data-smartkarma-citation="entities:809:1" rel="noopener">Melco (200 HK)</a>'s 11.9% gain on the 26th June - on serious volume - was predicated on a short squeeze, just eight days after the fully-paid rights shares commenced trading.</li>
</ul>



Krungthai Card (KTC TB) is a pretty straightforward short term trade. Basically the second largest shareholder, Prakitchaiwattana, got margin called, and shares fell limit down. Twice.
South Korean private equity firm VIG Partners tables an Offer for beauty device company VIOL (335890 KS), whose major shareholder, DMS (068790 KS), faces allegations of unfair internal transactions.

Melco (200 HK)'s 11.9% gain on the 26th June - on serious volume - was predicated on a short squeeze, just eight days after the fully-paid rights shares commenced trading.


Last Week In Event SPACE: Krungthai Card, VIOL, Melco, Singapore Post

<ul>
<li>I tally 43 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma.</li>
<li>Two new deal were discussed on Smartkarma this week: <a href="https://www.smartkarma.com/entities/humm-group" target="_blank" data-smartkarma-citation="entities:35366:1" rel="noopener">Humm Group (HUM AU)</a> and <a href="https://www.smartkarma.com/entities/viol-co-ltd" target="_blank" data-smartkarma-citation="entities:41010:1" rel="noopener">VIOL (335890 KS)</a>.</li>
<li>Key updates/news took place on<a href="https://www.smartkarma.com/entities/santos-ltd" target="_blank" data-smartkarma-citation="entities:711:1" rel="noopener">Santos (STO AU)</a>, <a href="https://www.smartkarma.com/entities/pointsbet-holdings-ltd" target="_blank" data-smartkarma-citation="entities:29102:1" rel="noopener">PointsBet (PBH AU)</a>, <a href="https://www.smartkarma.com/entities/new-world-resources-ltd" target="_blank" data-smartkarma-citation="entities:9712:1" rel="noopener">New World Resources (NWC AU)</a>, <a href="https://www.smartkarma.com/entities/smartpay-holdings-limited" target="_blank" data-smartkarma-citation="entities:45153:1" rel="noopener">SmartPay (SMP AU)</a>, <a href="https://www.smartkarma.com/entities/dickson-concepts-intl-ltd" target="_blank" data-smartkarma-citation="entities:5052:1" rel="noopener">Dickson Concepts (113 HK)</a>, and <a href="https://www.smartkarma.com/entities/sbi-sumishin-net-bank-ltd" target="_blank" data-smartkarma-citation="entities:34572:1" rel="noopener">SBI Sumishin Net Bank (7163 JP)</a><a href="https://www.smartkarma.com/entities/sbi-sumishin-net-bank-ltd" target="_blank" data-smartkarma-citation="entities:34572:1" rel="noopener"></a>.</li>
</ul>


I tally 43 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma.
Two new deal were discussed on Smartkarma this week: Humm Group (HUM AU) and VIOL (335890 KS).
Key updates/news took place onSantos (STO AU), PointsBet (PBH AU), New World Resources (NWC AU), SmartPay (SMP AU), Dickson Concepts (113 HK), and SBI Sumishin Net Bank (7163 JP).


(Mostly) Asia-Pac M&A: Santos, PointsBet, New World Resources, SmartPay, SBI Sumishin Net Bank, Humm

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

<ul>
<li>This insight provides an updated progress on the tender offer and delisting of VIOL (335890 KS). The tender offer period lasts from 18 June to 7 July 2025.</li>
<li>Through this tender offer, VIG Partners plans to acquire full management rights of Viol and also take it private.</li>
<li>If the number of shares offered for the tender offer reaches the maximum target, SPC will secure a 98.84% stake in Viol.</li>
</ul>


This insight provides an updated progress on the tender offer and delisting of VIOL (335890 KS). The tender offer period lasts from 18 June to 7 July 2025.
Through this tender offer, VIG Partners plans to acquire full management rights of Viol and also take it private.
If the number of shares offered for the tender offer reaches the maximum target, SPC will secure a 98.84% stake in Viol.


An Updated Progress on the Tender Offer and Delisting of Viol By VIG Partners

Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Index Rebalance

<ul>
<li>HLB Life Science faces delisting if it stays in ATTENTION for four years or gets a disclaimer in an audit—barring surprises, there's still runway before it’s a real threat.</li>
<li>HLB Inc getting ATTENTION in May looks likely, as KRX factors in frequent correction disclosures—HLB’s history with Rivoceranib filings and the failed FDA bid add to the risk.</li>
<li>If HLB Inc. gets ATTENTION in May and drops from KOSDAQ 150, VIOL (335890 KS) steps in—worth positioning ahead of late April.</li>
</ul>


HLB Life Science faces delisting if it stays in ATTENTION for four years or gets a disclaimer in an audit—barring surprises, there's still runway before it’s a real threat.
HLB Inc getting ATTENTION in May looks likely, as KRX factors in frequent correction disclosures—HLB’s history with Rivoceranib filings and the failed FDA bid add to the risk.
If HLB Inc. gets ATTENTION in May and drops from KOSDAQ 150, VIOL (335890 KS) steps in—worth positioning ahead of late April.


Detailing KRX Market Alerts & Passive Flow Plays

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

<ul>
<li>Archimed, via its Korean entity Syracuse Subco, now holds 91.35% of <a href="https://www.smartkarma.com/entities/jeisys-medical-inc" target="_blank" data-smartkarma-citation="entities:36766:1" rel="noopener">Jeisys Medical (287410 KS)</a> following the second tender offer. <a href="https://www.smartkarma.com/entities/jeisys-medical-inc" target="_blank" data-smartkarma-citation="entities:36766:1" rel="noopener">Jeisys</a> shares will be delisted in the next couple months.</li>
<li>
<a href="https://www.smartkarma.com/entities/jeisys-medical-inc" target="_blank" data-smartkarma-citation="entities:36766:1" rel="noopener">Jeisys Medical (287410 KS)</a> is a <a href="https://www.smartkarma.com/entities/kosdaq-150-index" target="_blank" data-smartkarma-citation="entities:31077:1" rel="noopener">KOSDAQ 150 Index (KOSDQ150 INDEX)</a> constituent and there will be a replacement for the stock in the index.</li>
<li>Recent ad hoc replacements to the <a href="https://www.smartkarma.com/entities/kosdaq-150-index" target="_blank" data-smartkarma-citation="entities:31077:1" rel="noopener">KOSDAQ 150 Index (KOSDQ150 INDEX)</a> have traded well and that warrants positioning for this event.</li>
</ul>


Archimed, via its Korean entity Syracuse Subco, now holds 91.35% of Jeisys Medical (287410 KS) following the second tender offer. Jeisys shares will be delisted in the next couple months.

Jeisys Medical (287410 KS) is a KOSDAQ 150 Index (KOSDQ150 INDEX) constituent and there will be a replacement for the stock in the index.
Recent ad hoc replacements to the KOSDAQ 150 Index (KOSDQ150 INDEX) have traded well and that warrants positioning for this event.


KOSDAQ150 Index Adhoc Rebalance Preview: Replacements for Jeisys Medical

South Korea

VIOL Co., Ltd. manufactures and distributes medical equipment. The Company produces sylfirms, scarlets, skinstamps, and other related products. VIOL markets its products worldwide.

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VIOL (335890 KS)

Last Week In Event SPACE: Krungthai Card, VIOL, Melco, Singapore Post

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

(Mostly) Asia-Pac M&A: Santos, PointsBet, New World Resources, SmartPay, SBI Sumishin Net Bank, Humm

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

An Updated Progress on the Tender Offer and Delisting of Viol By VIG Partners

This insight provides an updated progress on the tender offer and delisting of VIOL. Through this tender offer, VIG Partners plans to acquire full...

Douglas Kim

Detailing KRX Market Alerts & Passive Flow Plays

This post provides a detailed breakdown of KRX market alert rules and examines key names that could see meaningful passive flow impacts.

Sanghyun Park

KOSDAQ150 Index Adhoc Rebalance Preview: Replacements for Jeisys Medical

Archimed holds 91.35% of the shares in Jeisys Medical. With trading halted in Jeisys, the KRX could announce a replacement for the KOSDAQ150 Index....

Brian Freitas

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