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

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

Kito (6409) Shareholder Register Getting Interestinger

Quiddity Advisors

Event-Driven

<ul>
<li>The <a href="https://www.smartkarma.com/entities/kito-corporation" target="_blank" data-smartkarma-citation="entities:19512:1" rel="noopener">Kito Corporation (6409 JP)</a> take-private by KKR which is in process started with an interesting register. It has become interestinger.</li>
<li>One possibly-strategic "pure investment" holder has gone 10+%. A "friendly activist" has gone below. Another large friendly holder sold 4%. Volume since it achieved near-deal-price has been 24.7% of votes. </li>
<li>The register has likely become more arb-y and possibly strategic, and less friendly to Kito, but it is up to the holders to follow up. And there is a warning.</li>
</ul>


The Kito Corporation (6409 JP) take-private by KKR which is in process started with an interesting register. It has become interestinger.
One possibly-strategic "pure investment" holder has gone 10+%. A "friendly activist" has gone below. Another large friendly holder sold 4%. Volume since it achieved near-deal-price has been 24.7% of votes. 
The register has likely become more arb-y and possibly strategic, and less friendly to Kito, but it is up to the holders to follow up. And there is a warning.


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