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 ECM] Kokusai Elec (6525) - Applied Materials $330mm Selldown

[Japan ECM] Kokusai Elec (6525) Offering - Expect It Very Well Bid, and the Back End Squeezy

Nikkei 225 Sep25 Rebal: One ADD, One DELETE Still Probable Unless Kokusai Elec (6525) Offering/Split

Nikkei 225 Sep25 Rebal: One ADD, One DELETE Probable - Less Interesting Than Before

Quiddity Advisors

Equity Capital Markets

Kokusai Electric  / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kokusai-electric-corp" target="_blank" data-smartkarma-citation="entities:40152:1" rel="noopener">Kokusai Electric (6525 JP)</a> was IPOed too cheap in 2023 after a couple of years in the wilderness and an aborted private sale effort, blocked on antitrust grounds. </li>
<li>It nearly tripled, there was an offering announced at ¥5,000+ priced ¥4,500+. Shares fell back to IPO price, then bounced, and we got a July follow-on offering at ¥3,000+.</li>
<li>I suggested <a href="https://www.smartkarma.com/insights/japan-ecm-kokusai-elec-6525-offering-expect-it-very-well-bid-and-the-back-end-squeezy" target="_blank" rel="noopener">here</a> the back end could be squeezy. It was for a hot minute, then it wasn't. Now the stock is up 50% in 2 weeks. Watch out!</li>
</ul>



Kokusai Electric (6525 JP) was IPOed too cheap in 2023 after a couple of years in the wilderness and an aborted private sale effort, blocked on antitrust grounds. 
It nearly tripled, there was an offering announced at ¥5,000+ priced ¥4,500+. Shares fell back to IPO price, then bounced, and we got a July follow-on offering at ¥3,000+.
I suggested here the back end could be squeezy. It was for a hot minute, then it wasn't. Now the stock is up 50% in 2 weeks. Watch out!


[Japan ECM] Kokusai Elec (6525) - KKR's Lock Up Expiry in 3 Weeks - $700mm Clean-Up Coming?