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

JAFCO (8595) Succumbs to Even Worse Greenmail - SPECTACULARLY BAD Governance

JAFCO (8595) Tender Offer Close Imminent - Decent Conviction to Not Be Long

JAFCO Tender Offer Results - Low Pro-Ration Surprise, Murakami Overhang

JAFCO (8595) Yields to Murakami Greenmail - Big Asset Sale, Big Buyback

JAFCO (8595) Down as Murakami Affiliates Sell the Pop on the Poison Pill, So Buy the Range Dip

JAFCO (8595) Sells NRI Shares But VWAP Falling Short - Comes Down To Murakami-San

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jafco-co-ltd" target="_blank" data-smartkarma-citation="entities:8848:1" rel="noopener">Jafco Co Ltd (8595 JP)</a> announced the reference period VWAP for the Tender Offer Buyback was ¥2,362.4136 vs target ¥2,525. Murakami-san refused to play, so the Tender Offer is cancelled.</li>
<li>This is good news and bad news. The announcement wording doesn't make JAFCO look good, but they will continue discussions with City Index Eleventh. But there is potential.</li>
<li><em>I shall now therefore humbly propose my own thoughts, which I hope will not be liable to the least objection (Jonathan Swift, 1729)</em></li>
</ul>



Jafco Co Ltd (8595 JP) announced the reference period VWAP for the Tender Offer Buyback was ¥2,362.4136 vs target ¥2,525. Murakami-san refused to play, so the Tender Offer is cancelled.
This is good news and bad news. The announcement wording doesn't make JAFCO look good, but they will continue discussions with City Index Eleventh. But there is potential.
I shall now therefore humbly propose my own thoughts, which I hope will not be liable to the least objection (Jonathan Swift, 1729)


JAFCO(8595)가 공개 매수 제안을 취소합니다. 저는 선의의 거버넌스를 위한 겸손한 제안을 제시합니다.