Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>For Oct 2025, 15 new transactions (firm and non-binding) were discussed on Smartkarma (by the Quiddity team) with an overall announced deal size of ~US$33bn.</li>
<li>The average premium for the new transactions announced (or first discussed) in October was ~54%, with a year-to-date average of ~49%.</li>
<li>The average premiums for transactions in 2024 (129 transactions), 2023 (117), 2022 (106), 2021 (165), 2020 (158), and 2019 (145 ) were 43%, 39%, 41%, 33%, 31%, and 31%.</li>
</ul>


For Oct 2025, 15 new transactions (firm and non-binding) were discussed on Smartkarma (by the Quiddity team) with an overall announced deal size of ~US$33bn.
The average premium for the new transactions announced (or first discussed) in October was ~54%, with a year-to-date average of ~49%.
The average premiums for transactions in 2024 (129 transactions), 2023 (117), 2022 (106), 2021 (165), 2020 (158), and 2019 (145 ) were 43%, 39%, 41%, 33%, 31%, and 31%.


(Mostly) Asia M&A, Oct 2025 Wrap: Hang Seng, SCSK, AUB, Sumitomo Densetsu, Genting Malaysia, ANE

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) (TSM US)

TSMC (Taiwan Semiconductor Manufacturing)

<ul>
<li>Windows 10's End-of-Life Becomes Apple's Windfall as Second Fastest Growing Computer Brand</li>
<li>Eyes on Yageo Results Coming October 30 After 35% 1-Week Surge</li>
<li>China Tightens Rare Earth Grip: TSMC Says It's Prepared with Inventory</li>
</ul>


Windows 10's End-of-Life Becomes Apple's Windfall as Second Fastest Growing Computer Brand
Eyes on Yageo Results Coming October 30 After 35% 1-Week Surge
China Tightens Rare Earth Grip: TSMC Says It's Prepared with Inventory


Taiwan Tech Weekly: Apple's Macbook Windfall; Yageo's Rally; TSMC's Massive Rare Earth Stockpile

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Oct 24th. The aggregated holding was USD1,379.0bn.</li>
<li>We estimate that foreign flows to be outflows of USD1,005mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in TSMC, Hon Hai Precision, Wistron, Yageo, MediaTek, Hon Hai Precision, Yageo, TSMC, Wistron, Mediatek.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Oct 24th. The aggregated holding was USD1,379.0bn.
We estimate that foreign flows to be outflows of USD1,005mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in TSMC, Hon Hai Precision, Wistron, Yageo, MediaTek, Hon Hai Precision, Yageo, TSMC, Wistron, Mediatek.


TWSE Foreign Holding Weekly (Oct 24th): TSMC, Hon Hai Precision, Wistron, Yageo, MediaTek

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Oct 24th. The aggregated short interest was USD27.3bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in TECO Electric &amp; Machinery, Wistron, Unimicron Technology, LARGAN Precision, Yageo, TECO Electric &amp; Machinery, Wistron, Unimicron Technology, LARGAN Precision, Yageo.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Oct 24th. The aggregated short interest was USD27.3bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in TECO Electric &amp; Machinery, Wistron, Unimicron Technology, LARGAN Precision, Yageo, TECO Electric &amp; Machinery, Wistron, Unimicron Technology, LARGAN Precision, Yageo.


TWSE Short Interest Weekly (Oct 24th): TECO Electric & Machinery, Wistron, Unimicron Technology

<ul>
<li>Palliser discloxes stake in <a href="https://www.smartkarma.com/entities/lg-chem-ltd" target="_blank" data-smartkarma-citation="entities:3583:1" rel="noopener">LG Chem Ltd (051910 KS)</a>, and subsequently seeks to spill the board and undertake buybacks. </li>
<li>The family  increased their bid for <a href="https://www.smartkarma.com/entities/pacific-industrial-co-ltd" target="_blank" data-smartkarma-citation="entities:6261:1" rel="noopener">Pacific Industrial (7250 JP)</a> by 42.4%, from ¥2,050 to ¥2,919/share. This now becomes a short-term rate of return trade. It will trade relatively tight.</li>
<li>
<a href="https://www.smartkarma.com/entities/first-pacific-co-ltd" target="_blank" data-smartkarma-citation="entities:173:1" rel="noopener">First Pacific Co (142 HK)</a> appears to have squeezed the most out its unlisted subsidiary MPIC, for now, with the forthcoming Maynilad IPO.</li>
</ul>


Palliser discloxes stake in LG Chem Ltd (051910 KS), and subsequently seeks to spill the board and undertake buybacks. 
The family  increased their bid for Pacific Industrial (7250 JP) by 42.4%, from ¥2,050 to ¥2,919/share. This now becomes a short-term rate of return trade. It will trade relatively tight.

First Pacific Co (142 HK) appears to have squeezed the most out its unlisted subsidiary MPIC, for now, with the forthcoming Maynilad IPO.


Last Week In Event SPACE: LG Chem, Pacific Industrial, Critical Minerals, First Pacific

Taiwan

Yageo Corporation manufactures resistors and related equipment.  The Company also produces thick-film resistors which are used in downstream electronics products, and high power thin-film resistors and chip resistors which are used in aerospace, automobile, and precision electronics industries.  Through its subsidiaries, Yageo also operates a consumer goods importing business.

Price Gauge
52-week Range	0.00 - 0.00
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Yageo Corporation (2327 TT)

(Mostly) Asia M&A, Oct 2025 Wrap: Hang Seng, SCSK, AUB, Sumitomo Densetsu, Genting Malaysia, ANE

For the month of Oct 2025, 15 new deals were discussed on Smartkarma with an overall deal size of ~US$33bn. The average premium for the new deals...

David Blennerhassett

Taiwan Tech Weekly: Apple's Macbook Windfall; Yageo's Rally; TSMC's Massive Rare Earth Stockpile

Windows 10's end-of-life is benefiting Apple. Yageo's results ahead after a 35% surge, while TSMC is prepared for China's tightening grip on rare...

Vincent Fernando, CFA

TWSE Foreign Holding Weekly (Oct 24th): TSMC, Hon Hai Precision, Wistron, Yageo, MediaTek

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, Hon Hai Precision, Wistron, Yageo,...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Oct 24th): TECO Electric & Machinery, Wistron, Unimicron Technology

We analyzed TWSE short interest report for the past week and highlighted short interest changes in TECO Electric & Machinery (1504 TT), Wistron...

Ke Yan, CFA, FRM

Last Week In Event SPACE: LG Chem, Pacific Industrial, Critical Minerals, First Pacific

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

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

(Mostly) Asia M&A, Oct 2025 Wrap: Hang Seng, SCSK, AUB, Sumitomo Densetsu, Genting Malaysia, ANE

For the month of Oct 2025, 15 new deals were discussed on Smartkarma with an overall deal size of ~US$33bn. The average premium for the new deals...

David Blennerhassett

Taiwan Tech Weekly: Apple's Macbook Windfall; Yageo's Rally; TSMC's Massive Rare Earth Stockpile

​Windows 10's end-of-life is benefiting Apple. Yageo's results ahead after a 35% surge, while TSMC is prepared for China's tightening grip on rare...

Vincent Fernando, CFA

TWSE Foreign Holding Weekly (Oct 24th): TSMC, Hon Hai Precision, Wistron, Yageo, MediaTek

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, Hon Hai Precision, Wistron, Yageo,...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Oct 24th): TECO Electric & Machinery, Wistron, Unimicron Technology

We analyzed TWSE short interest report for the past week and highlighted short interest changes in TECO Electric & Machinery (1504 TT), Wistron...

Ke Yan, CFA, FRM

Last Week In Event SPACE: LG Chem, Pacific Industrial, Critical Minerals, First Pacific

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

Windows 10's end-of-life is benefiting Apple. Yageo's results ahead after a 35% surge, while TSMC is prepared for China's tightening grip on rare...