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

StubWorld: Sun Corp (6736 JP) As A Value Play Is Less Apparent

To Tender Or Not - Gauging The Future of Sun Corp (6736)

Quiddity Advisors

Event-Driven

<ul>
<li>A year ago I wrote <a href="https://www.smartkarma.com/entities/sun-corp" target="_blank" data-smartkarma-citation="entities:10803:1" rel="noopener">Sun Corp (6736 JP)</a> was still/again cheap. Back then it traded at a 48% discount to the value of its shares in <a href="https://www.smartkarma.com/entities/cellebrite-di-ltd" target="_blank" data-smartkarma-citation="entities:37102:1" rel="noopener">Cellebrite DI (CLBT US)</a>. </li>
<li>It spent much of the last few months at a 25-35% discount. Last Tuesday it was a 25% discount. By Friday, it was a 1.2% discount after Cellebrite shares plummeted. </li>
<li>Sun Corp shares have reacted this morning but the discount is entirely too narrow. If you have the pair on, time to take it off. </li>
</ul>


A year ago I wrote Sun Corp (6736 JP) was still/again cheap. Back then it traded at a 48% discount to the value of its shares in Cellebrite DI (CLBT US). 
It spent much of the last few months at a 25-35% discount. Last Tuesday it was a 25% discount. By Friday, it was a 1.2% discount after Cellebrite shares plummeted. 
Sun Corp shares have reacted this morning but the discount is entirely too narrow. If you have the pair on, time to take it off. 


[Japan Activism] Sun Corp (6736 JP) - Not So Cheap Anymore