Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

HK Type 4 license through Ballingal Investment Advisors Ltd. 

I'm a highly experienced sell-side analyst with in excess of 22 years of covering Asia Pacific equities, the past 19 years immersed in event strategies encompassing M&A risk arbitrage, directional long/short, stub trades and restructuring.  

My background also includes accountancy (liquidation/bankruptcy/receivership) earlier in my career and as a chief financial officer of a global commodity company based in the US and Mexico.

Pan-Asia Catalysts/Events

Boustead Projects' Underwhelming Unconditional Offer

Quiddity Advisors

Event-Driven

<ul>
<li>On the 6 Feb, <strong><a href="https://www.smartkarma.com/entities/boustead-projects-ltd" target="_blank" data-smartkarma-citation="entities:26785:1" rel="noopener">Boustead Projects (BOCJ SP)</a></strong>, a high-spec facilities designer and builder, announced an unconditional Offer from <strong><a href="https://www.smartkarma.com/entities/boustead-singapore-ltd" target="_blank" data-smartkarma-citation="entities:14843:1" rel="noopener">Boustead Singapore Limited (BOCS SP)</a></strong> at S$0.90/share.</li>
<li>The Offer price was low-balled. Taking into account net cash of S$154mn, this was being done cheaply. It needed to be bumped and shares traded up to S$0.99 in expectation. </li>
<li>BOCS has now bumped to S$0.95/share and declared terms final. Not a great outcome for minorities.</li>
</ul>


On the 6 Feb, Boustead Projects (BOCJ SP), a high-spec facilities designer and builder, announced an unconditional Offer from Boustead Singapore Limited (BOCS SP) at S$0.90/share.
The Offer price was low-balled. Taking into account net cash of S$154mn, this was being done cheaply. It needed to be bumped and shares traded up to S$0.99 in expectation. 
BOCS has now bumped to S$0.95/share and declared terms final. Not a great outcome for minorities.


Boustead Projects: Boustead Singapore Bumps. Still Underwhelming