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 26 years of covering Asia Pacific equities, the past 20 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

On Swire (19 HK)'s 2026 Interim Results. Still Inexpensive

StubWorld: Swire Accelerates Cathay Exchange. "As" At Multi-Decade Premium To "Bs"

Swire Pac (19 HK): Thai Beverage Spin-Off

StubWorld: Swire Pac's NAV Discount Widens. Bs Outperform As

Swire (19 HK): On The FY25 Results, Swire Props' HK Writedowns, & Cathay Placement

Quiddity Advisors

Event-Driven

<ul>
<li>
<strong><a href="https://www.smartkarma.com/entities/swire-pacific-limited-class-a" target="_blank" data-smartkarma-citation="entities:10433:1" rel="noopener">Swire Pacific (19 HK)</a></strong> announced plans to raise HK$4.7bn via the issuance of bonds exchangeable into shares of <strong><a href="https://www.smartkarma.com/entities/cathay-pacific-airways-limited" target="_blank" data-smartkarma-citation="entities:243:1" rel="noopener">Cathay Pacific (293 HK)</a></strong>.</li>
<li>The zero-coupon bonds can be converted into ~356.6mn Cathay Pacific, ~5.9% of shares out. The initial exchange price is HK$13.18/Cathay share, a 2.9% premium to last close.</li>
<li>This development follows Swire's announcement in March this year it sold 153.05mn shares in Cathay at HK$11.74/share, raising HK$1.8bn for working capital.</li>
</ul>



Swire Pacific (19 HK) announced plans to raise HK$4.7bn via the issuance of bonds exchangeable into shares of Cathay Pacific (293 HK).
The zero-coupon bonds can be converted into ~356.6mn Cathay Pacific, ~5.9% of shares out. The initial exchange price is HK$13.18/Cathay share, a 2.9% premium to last close.
This development follows Swire's announcement in March this year it sold 153.05mn shares in Cathay at HK$11.74/share, raising HK$1.8bn for working capital.


Swire Pac (19 HK) Further Trims Cathay Exposure