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

Quiddity Advisors

Event-Driven

<ul>
<li>Back on the 1st November, Nikolai Levitskii, Russian iron-ore play <strong><a href="https://www.smartkarma.com/entities/irc-ltd" target="_blank" data-smartkarma-citation="entities:20649:1" rel="noopener">IRC (1029 HK)</a></strong>'s chairman and largest shareholder, acquired 4.72% of shares out, lifting his stake above 30%, <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2023/1108/2023110801177.pdf" target="_blank" rel="noopener">triggering an MGO</a>.</li>
<li>The Offer is conditional on Levitskii holding more than 50% of shares out. His intention is to maintain IRC's listing. At the first close, he held 35.77% (5.16% had tendered). </li>
<li>The current spread is 9.2%. MIC, with 16.67% of shares out, has yet to tender. Nor do I expect them to. Plus IRC is on the OFAC sanction list. Avoid.</li>
</ul>


Back on the 1st November, Nikolai Levitskii, Russian iron-ore play IRC (1029 HK)'s chairman and largest shareholder, acquired 4.72% of shares out, lifting his stake above 30%, triggering an MGO.
The Offer is conditional on Levitskii holding more than 50% of shares out. His intention is to maintain IRC's listing. At the first close, he held 35.77% (5.16% had tendered). 
The current spread is 9.2%. MIC, with 16.67% of shares out, has yet to tender. Nor do I expect them to. Plus IRC is on the OFAC sanction list. Avoid.


IRC (1029 HK)'s MBO's MGO: Still An Avoid

Irc Ltd

IRC (1029 HK)'s MBO's MGO: Still An Avoid