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 Event/M&A] Nippon Sheet Glass Deal Announced - Fast Schedule, Instant Pref Conversion

[Japan Event/M&A] Nippon Sheet Glass Injection+Debt-For-Equity-For-Takeover Swap

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/nippon-sheet-glass-co-ltd" target="_blank" data-smartkarma-citation="entities:9013:1" rel="noopener">Nippon Sheet Glass (5202 JP)</a> announced 21-Aug that the capital injection expected a fair bit later would be done and paid for on 31-Aug. New term loans were agreed 26-Aug.</li>
<li>That made 25 Sep the last trading day. On the 31st, they confirmed the capital injection had been paid for. Cash out for remaining shareholders would be late December 2026.</li>
<li>Actual dates and confirmation waits until early November but buy today and that is 4.0% annualised (though the BOJ could act twice in the interim). Worth a look for arbs.</li>
</ul>



Nippon Sheet Glass (5202 JP) announced 21-Aug that the capital injection expected a fair bit later would be done and paid for on 31-Aug. New term loans were agreed 26-Aug.
That made 25 Sep the last trading day. On the 31st, they confirmed the capital injection had been paid for. Cash out for remaining shareholders would be late December 2026.
Actual dates and confirmation waits until early November but buy today and that is 4.0% annualised (though the BOJ could act twice in the interim). Worth a look for arbs.


[Japan M&A] Nippon Sheet Glass (5202) Done, Dusted, Arb for Money