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

First Pacific (142 HK): Maynilad's IPO (Now With Prospectus Numbers)

First Pacific (142 HK)'s Full Value As Maynilad Commences Trading

First Pacific (142 HK): Even More Value In The Stub

StubWorld: First Pacific (142 HK) Looking Stretched

First Pacific (142 HK) Is Fully Valued Here

Quiddity Advisors

Event-Driven

<ul>
<li>
<strong><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></strong>'s 49.9%-held MPIC is spinning off Maynilad, a distributor of potable water and provider of sewage services, on the Philippine exchange.</li>
<li>The IPO has been priced at PHP 15/share, down 25% from earlier expectations. Proceeds <em>may</em> reach PHP 34bn (~US$580mn), in the largest Filipino IPO since 2021. </li>
<li>First Pac's NAV discount has drifted off a recent multi-year narrowing, but remains elevated for a multiple cross-border, difficult to short holdco.</li>
</ul>



First Pacific Co (142 HK)'s 49.9%-held MPIC is spinning off Maynilad, a distributor of potable water and provider of sewage services, on the Philippine exchange.
The IPO has been priced at PHP 15/share, down 25% from earlier expectations. Proceeds may reach PHP 34bn (~US$580mn), in the largest Filipino IPO since 2021. 
First Pac's NAV discount has drifted off a recent multi-year narrowing, but remains elevated for a multiple cross-border, difficult to short holdco.


First Pacific (142 HK): Maynilad's IPO Price Firmed