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

Kito (6409) Goes Private. Again. This Time With KKR, But Watch the Register

Kito (6409) - Shareholder Register Quirks Evolving - Becoming More Arb-Y Less Friendly

Kito (6409) Shareholder Register Getting Interestinger

Quiddity Advisors

Event-Driven

<ul>
<li>KKR-Owned Crosby got SAMR approval to buy <a href="https://www.smartkarma.com/entities/kito-corporation" target="_blank" data-smartkarma-citation="entities:19512:1" rel="noopener">Kito Corporation (6409 JP)</a> several days ago apparently and has launched its deal. It will be a 21-day tender. Very quick.</li>
<li>It was a strong premium, but still a light price, at announcement. And that was when USD/yen was lower. Since then, earnings and forecasts are way up. But price unchanged.</li>
<li>What looked like a likely candidate for bump agitation has seen none (that I am aware of) so this is pretty straightforward.</li>
</ul>


KKR-Owned Crosby got SAMR approval to buy Kito Corporation (6409 JP) several days ago apparently and has launched its deal. It will be a 21-day tender. Very quick.
It was a strong premium, but still a light price, at announcement. And that was when USD/yen was lower. Since then, earnings and forecasts are way up. But price unchanged.
What looked like a likely candidate for bump agitation has seen none (that I am aware of) so this is pretty straightforward.


Kito (6409) - KKR/Crosby Takeover Launches - High Premium in Weak Year, But Still Light to Value