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

Rakuten Bank (5838 JP) – The Bank in Current Form and the Promise of FinTech Reorganization

Revolut IPO Prospects – Rich Target Valuation Relative to Digital Bank Peers

Softbank (9984 JP): Arm Headwinds Building, but NAV Discount Is Attractive

Rakuten's New "Bond-Type Share" Issuance - Quite Quirky to Quantulate Rakuten's Quisquous New Quoz

Quiddity Advisors

Event-Driven

<ul>
<li>A couple of years ago, <a href="https://www.smartkarma.com/entities/rakuten-group-inc" target="_blank" data-smartkarma-citation="entities:31:1" rel="noopener">Rakuten (4755 JP)</a> - burning through cash to start its mobile business - announced it would its Bank and Securities units. Bank listed. Securities didn't.</li>
<li>Mizuho ended up buying 49% of Securities. Today, it was announced there would be discussions to put Bank, Securities, Card, and Insurance in a new listed Holdco.</li>
<li>How this works will end up being complicated. More complicated than it should be. But the complexity would make this more of a win-win for everyone. </li>
</ul>


A couple of years ago, Rakuten (4755 JP) - burning through cash to start its mobile business - announced it would its Bank and Securities units. Bank listed. Securities didn't.
Mizuho ended up buying 49% of Securities. Today, it was announced there would be discussions to put Bank, Securities, Card, and Insurance in a new listed Holdco.
How this works will end up being complicated. More complicated than it should be. But the complexity would make this more of a win-win for everyone. 


If Rakuten (4755) Combines Financial Units... Who Wins and How? Well... It's Complicated