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

MBK/Unison Capital Korea Do a Deal for Osstem Implant (048260 KS) Thwarting Activist KCGI

The Blockchain Delusion. A (Mostly) Bearish Investment Thesis.

Quiddity Advisors

Event-Driven

<ul>
<li>As discussed in <a href="https://www.smartkarma.com/insights/mbk-unison-capital-korea-do-a-deal-for-osstem-implant-048260-ks-thwarting-activist-kcgi" target="_blank" data-smartkarma-citation="insights:94339" rel="noopener">MBK/Unison Capital Korea Do a Deal for Osstem Implant (048260 KS) Thwarting Activist KCGI</a>, at end-Jan, they launched a deal to get a minimum of 15.4%.</li>
<li>They ended up getting 61.16%. That left 10.6% of shares out in unaffiliated hands. </li>
<li>Now they have <a href="https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20230322000012" target="_blank" rel="noopener">launched</a> another tender offer to buy the remaining at the same KRW 190k price. There is no minimum. Straight simple risk arb.</li>
</ul>


As discussed in MBK/Unison Capital Korea Do a Deal for Osstem Implant (048260 KS) Thwarting Activist KCGI, at end-Jan, they launched a deal to get a minimum of 15.4%.
They ended up getting 61.16%. That left 10.6% of shares out in unaffiliated hands. 
Now they have launched another tender offer to buy the remaining at the same KRW 190k price. There is no minimum. Straight simple risk arb.


MBK/Unison Launch ANOTHER Tender on Osstem Implant (048260 KS) To Squeeze Out Minorities