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

Quiddity Advisors

Event-Driven

<ul>
<li>Yesterday, the SAITO family which owns 46.75% got Hikari Tsushin, which owns 22+%, to agree to sell their shares into a Tender Offer at what was a small premium.</li>
<li>Interestingly, the premium was decent compared to a week ago - +50%. But the stock ramped in a volume spike on no public news. Hmmmm...</li>
<li>It's too cheap - about 7.5-10x EV/Net Income using recent/low/5yr average ranges. But it's a done deal.</li>
</ul>


Yesterday, the SAITO family which owns 46.75% got Hikari Tsushin, which owns 22+%, to agree to sell their shares into a Tender Offer at what was a small premium.
Interestingly, the premium was decent compared to a week ago - +50%. But the stock ramped in a volume spike on no public news. Hmmmm...
It's too cheap - about 7.5-10x EV/Net Income using recent/low/5yr average ranges. But it's a done deal.


[Japan M&A] Family Gets Hikari Tsushin To Agree to Sell AJIS (4659 JP) - Done Deal

AJIS Co Ltd

[Japan M&A] Family Gets Hikari Tsushin To Agree to Sell AJIS (4659 JP) - Done Deal