Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

HK Type 4 license through Ballingal Investment Advisors Ltd. ("BIA" or "BIAL")

BACKGROUND
I have 20+yrs experience in Asia doing alternative strategies (i.e. non-delta1 non long-only) in fixed income, equity derivatives, and activist/catalyst/event-driven and long-short equity strategies with most of that time spent managing money. 

4 years in fixed income macro, 8 years running internal hedge fund and 4yrs investment banking at Citi in Japan, 3 years running an Asia multi-strat portfolio at a hedge fund, 4+yrs as an independent special situations analyst.

Pan-Asia Catalysts/Events

Hitachi Metals (5486) - Where IS Undisturbed?

Hitachi Metals – Steel Price Recovery Probably Limits Downside Even in the Event of a Break

Bain Bids Up BIG For Hitachi Metals (5486) - Now We Wait

Hitachi Metals – Is Net Debt Improvement Really a Positive?

Hitachi Metals – Limited Upside Despite Bain Capital News But Let’s Find the Offshoot Ideas

Quiddity Advisors

Event-Driven

Last week, Bain Capital Japan and Japan Industrial Partners and Japan Industrial Solutions (the "Bain Consortium") announced it would launch a Tender Offer to buy out <a href="https://www.smartkarma.com/entities/hitachi-metals-ltd" target="_blank" data-smartkarma-citation="entities:8561:1" rel="noopener">Hitachi Metals (5486 JP)</a> minority shareholders at ¥2181/share when all approvals had been received. Future dividends were cancelled. The first part of this series was in <a href="https://www.smartkarma.com/insights/bain-bids-up-big-for-hitachi-metals-5486-now-we-wait" target="_blank" data-smartkarma-citation="insights:50820" rel="noopener">Bain Bids Up BIG For Hitachi Metals (5486) - Now We Wait</a>. The Tender Offer is expected to start in November. That gives current holders 8+ months to wait for their cash. Below we look at what waiting means.

Last week, Bain Capital Japan and Japan Industrial Partners and Japan Industrial Solutions (the "Bain Consortium") announced it would launch a Tender Offer to buy out Hitachi Metals (5486 JP) minority shareholders at ¥2181/share when all approvals had been received. Future dividends were cancelled. The first part of this series was in Bain Bids Up BIG For Hitachi Metals (5486) - Now We Wait. The Tender Offer is expected to start in November. That gives current holders 8+ months to wait for their cash. Below we look at what waiting means.

Hitachi Metals - Should I Stay or Should I Go Now?