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

[Quiddity Index] Nikkei 225 Sep25 Rebal: One ADD/DEL, Less Certain Than Before

[Japan Event] Potentially Interesting Dynamics of Post-Tender NTT Data (9613) Trading. $8bn+ One Way

[Quiddity Index] Nikkei 225 Sep25 Rebal: One ADD/DEL? Kokusai a Question, but 2 Ad Hoc Events Coming

China A-Share Consumer Staples: An Analysis of the Opportunities Ahead

Quiddity Advisors

Index Rebalance

<ul>
<li>Today the results of the <a href="https://www.smartkarma.com/entities/ntt-data-corp" target="_blank" data-smartkarma-citation="entities:11232:1" rel="noopener">NTT Data Corp (9613 JP)</a> Tender Offer came out. NTT has 81.75%. I warned of lack of liquidity at that level yesterday <a href="https://www.smartkarma.com/insights/japan-event-potentially-interesting-dynamics-of-post-tender-ntt-data-9613-trading-8bn-one-way" target="_blank" rel="noopener">here</a>. </li>
<li>Yesterday I proposed that <a href="https://www.smartkarma.com/entities/rohm-co-ltd" target="_blank" data-smartkarma-citation="entities:2953:1" rel="noopener">ROHM Co Ltd (6963 JP)</a> would replace NTT Data in the Nikkei 225 and that the likely timing was the last couple of days of August.</li>
<li>Today, the Nikkei used the June 2020 rule change to announce NTT Data's near-term deletion. Rohm goes in 3 July. 7.5x ADV to buy. $3.8bn a side to trade.</li>
</ul>


Today the results of the NTT Data Corp (9613 JP) Tender Offer came out. NTT has 81.75%. I warned of lack of liquidity at that level yesterday here. 
Yesterday I proposed that ROHM Co Ltd (6963 JP) would replace NTT Data in the Nikkei 225 and that the likely timing was the last couple of days of August.
Today, the Nikkei used the June 2020 rule change to announce NTT Data's near-term deletion. Rohm goes in 3 July. 7.5x ADV to buy. $3.8bn a side to trade.


NTT (Nippon Telegraph & Telephone) (9432 JP)

Pan Pacific International Holdings (7532 JP)

[Quiddity Index] Nikkei 225 Boots NTT Data (9613) Early, Rohm (6963) IN 3 July; $3.8bn a Side