Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

HK Type 4 license through Ballingal Investment Advisors Ltd. 

I'm a highly experienced sell-side analyst with in excess of 22 years of covering Asia Pacific equities, the past 19 years immersed in event strategies encompassing M&A risk arbitrage, directional long/short, stub trades and restructuring.  

My background also includes accountancy (liquidation/bankruptcy/receivership) earlier in my career and as a chief financial officer of a global commodity company based in the US and Mexico.

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

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<p>This week in StubWorld ...</p>
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<p><a href="https://www.smartkarma.com/entities/pccw-ltd" target="_blank" data-smartkarma-citation="entities:873:1" rel="noopener">PCCW Ltd (8 HK)</a>'s NAV discount has widened to levels around last August's Partial Offer - yet the longer-term discount remains wider still.</p>
<p>And <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent Holdings (700 HK)</a> releases its FY20 results after the close of market today. Will this be accompanied by a large placement by <a href="https://www.smartkarma.com/entities/prosus-nv" target="_blank" data-smartkarma-citation="entities:28104:1" rel="noopener">Prosus (PRX NA)</a>?</p>
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<p>Preceding my comments on PCCW and Tencent are the weekly setup/unwind tables for Asia-Pacific Holdcos.</p>
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<p>These relationships trade with a minimum liquidity threshold of US$1mn on a 90-day moving average, and a % market capitalisation threshold - the $ value of the holding/opco held, over the parent’s market capitalisation, expressed in percent - of at least 20%.</p>
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<p><span>Reports are now emerging PCCW is in the cross-hairs to be deleted from the MSCI in the May review.</span></p>
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<p>As always, more below the fold.</p>
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This week in StubWorld ...




PCCW Ltd (8 HK)'s NAV discount has widened to levels around last August's Partial Offer - yet the longer-term discount remains wider still.
And Tencent Holdings (700 HK) releases its FY20 results after the close of market today. Will this be accompanied by a large placement by Prosus (PRX NA)?




Preceding my comments on PCCW and Tencent are the weekly setup/unwind tables for Asia-Pacific Holdcos.



These relationships trade with a minimum liquidity threshold of US$1mn on a 90-day moving average, and a % market capitalisation threshold - the $ value of the holding/opco held, over the parent’s market capitalisation, expressed in percent - of at least 20%.




Reports are now emerging PCCW is in the cross-hairs to be deleted from the MSCI in the May review.


As always, more below the fold.


Pacific Century Premium Developments (432 HK)

PCCW Ltd

StubWorld: PCCW, Naspers/Tencent