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

[Japan Activism] Mandom (4917 JP) - Murakami at 20% and Mandom Offers A Sweet Poison Pill

[Japan Activism] Mandom (4917) Holders Get an Early Win as MBO Bidder CVC Bumps 29%

[Japan M&A] Nikkei Reports KKR Has Proposed an Overbid for Mandom (4917) At ¥2800+

[Japan M&A] Mandom (4917 JP) MBO - Light Price, Open-Ish Register, Tough to Take Over, Could Do Fun

[Japan M&A] Mandom (4917 JP) MBO Launched at ¥1,960, Stock Is 15% Higher and Activists Dream Bigger

Quiddity Advisors

Event-Driven

<ul>
<li>Four weeks ago, CVC announced a family-led MBO of hair care and cosmetics company <a href="https://www.smartkarma.com/entities/mandom-corp" target="_blank" data-smartkarma-citation="entities:8353:1" rel="noopener">Mandom Corp (4917 JP)</a> at a price which was decidedly too light, well below company plans.</li>
<li>One activist wrote a letter clearly calling them out for accepting a low-ball price well below the Medium Term Management Plan target. Another bought a lot of shares. </li>
<li>On 25 September, Murakami-san and affiliates reported an 8.39% position. Seven trading days later it is 16.59% and the shares are up small from my last piece + 1. </li>
</ul>


Four weeks ago, CVC announced a family-led MBO of hair care and cosmetics company Mandom Corp (4917 JP) at a price which was decidedly too light, well below company plans.
One activist wrote a letter clearly calling them out for accepting a low-ball price well below the Medium Term Management Plan target. Another bought a lot of shares. 
On 25 September, Murakami-san and affiliates reported an 8.39% position. Seven trading days later it is 16.59% and the shares are up small from my last piece + 1. 


[Japan Activism] Mandom (4917 JP) MBO Sees Murakami Pushing Harder, Now at 16.59%