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 M&A/Activism] Toyota Fudosan -TICO (6201) Deal VII - Risks, Risk Mgmt, and Cui Bono?

[Japan Offering] Five Banks Offer 3% of Ibiden (4062) After 400% 12mo Run into Friday's Index Buy

[Japan M&A] TAPCO-TICO (6201) Deal VIII - Toyota Group Bumps, Elliott Agrees, STILL the Wrong Price.

[Japan M&A/Activism] Toyota RE Deal for Toyota Industries (6201 JP) Last Looks

[Japan M&A/Activism] Toyota RE Deal for TICO (6201) Extended. VERY Few Minorities Have Tendered.

[Quiddity Index] Nikkei 225 Sep26 Rebal Preview II - 2 Auto ADDs, 1 Extra Likely, 1 Cap

Quiddity Advisors

Event-Driven

<ul>
<li>The recent <em><a href="https://www.smartkarma.com/insights/japan-m-a-activism-toyota-re-deal-for-tico-6201-extended-very-few-minorities-have-tendered" target="_blank" data-smartkarma-citation="insights:221396" rel="noopener">[Japan M&amp;A/Activism] Toyota RE Deal for TICO (6201) Extended. VERY Few Minorities Have Tendered.</a></em> spurred a lot of questions. I try to answer a few here. </li>
<li>I have also updated the valuation, added a bit more detail into the Shareholder Structure Table, refined estimates for some assumptions.</li>
<li>Lastly, I discuss the nature of the risks in the run-up, the possibility of a bump, and what happens after. This is PART IV (or Part 1 of 2 today).</li>
</ul>


The recent [Japan M&amp;A/Activism] Toyota RE Deal for TICO (6201) Extended. VERY Few Minorities Have Tendered. spurred a lot of questions. I try to answer a few here. 
I have also updated the valuation, added a bit more detail into the Shareholder Structure Table, refined estimates for some assumptions.
Lastly, I discuss the nature of the risks in the run-up, the possibility of a bump, and what happens after. This is PART IV (or Part 1 of 2 today).


[Japan M&A/Activism] ToyotaRE-TICO (6201) Deal VI - Now 7% Thru at 1.0x BVPS... What Will Toyota Do?