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 Partial Tender] Update on SBI's Tender for BASE (4477 JP)

SBI (8473 JP) To Raise Stake in Brangista (6176 JP) In the Market Over 7 Months

[Japan Partial Tender] BASE (4477 JP) Deal Update - Trading VERY Cheap

Boss Maki Goes Hard on Base (4477) - Interesting Situation

Quiddity Advisors

Event-Driven

<ul>
<li>On Friday quite late, <a href="https://www.smartkarma.com/entities/base-inc" target="_blank" data-smartkarma-citation="entities:28353:1" rel="noopener">BASE Inc (4477 JP)</a> and <a href="https://www.smartkarma.com/entities/sbi-holdings-inc" target="_blank" data-smartkarma-citation="entities:10928:1" rel="noopener">SBI Holdings (8473 JP)</a> announced a Business and Capital Alliance whereby SBI would buy 20% in a partial offer at ¥340/share.</li>
<li>I think that's too low given the history of the shares, the fact that Activist-ish-y Wealthy Guy Hiroyuki MAKI offered ¥407/share a year ago and got far fewer shares. </li>
<li>Since then, revenues and earnings were revised upwards, and guidance this year is for strong growth. I would not be surprised to see.... um.... interference.</li>
</ul>


On Friday quite late, BASE Inc (4477 JP) and SBI Holdings (8473 JP) announced a Business and Capital Alliance whereby SBI would buy 20% in a partial offer at ¥340/share.
I think that's too low given the history of the shares, the fact that Activist-ish-y Wealthy Guy Hiroyuki MAKI offered ¥407/share a year ago and got far fewer shares. 
Since then, revenues and earnings were revised upwards, and guidance this year is for strong growth. I would not be surprised to see.... um.... interference.


[Japan Partial Tender] SBI Launches Partial Offer for 20% of BASE (4477 JP) At ¥340 - Needs More