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

StubWorld: Kingsoft Not In the Cloud; CH Karnchang Tests New Lows

StubWorld: Naspers Trading Cheap; Prosus Trading Rich(Er)

StubWorld: Is Lawrence Ho Planning To Collapse Melco?

Kingsoft Trade Idea Update: Cloud Listing to Crystalize the Value

Cloud Chronicles: Kingsoft Proposes Cloud Spin-Off

Kingsoft Stub Trade: Record Low Since Office Software Listing

Kingsoft Cloud (金山云) Pre-IPO: The Leading Cloud Provider in China

Quiddity Advisors

Event-Driven

<p>This week in StubWorld ...</p>
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<p><a href="https://www.smartkarma.com/entities/kingsoft-corp-ltd" target="_blank" data-smartkarma-citation="entities:492:1" rel="noopener">Kingsoft Corp (3888 HK)</a>'s 50.3%-held <a href="https://www.smartkarma.com/entities/kingsoft-cloud" target="_blank" data-smartkarma-citation="entities:28835:1" rel="noopener">Kingsoft Cloud (KC US)</a> will shortly set the offer price for its ~US$400-US$517.5mn US IPO, in the first major test of investor appetite for US-listed Chinese companies after the <a href="https://www.smartkarma.com/entities/luckin-coffee-inc" target="_blank" data-smartkarma-citation="entities:28046:1" rel="noopener">Luckin Coffee (LK US)</a> debacle.</p>
<p>The final offer price, expected today, will value KC well below peer cloud providers.  The question remains whether the timing is right to narrow the valuation gap to its peers.</p>
<p>Shares commence trading tomorrow.</p>
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<p>Preceding my comments on Kingsoft <em>and</em> Henderson 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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This week in StubWorld ...


Kingsoft Corp (3888 HK)'s 50.3%-held Kingsoft Cloud (KC US) will shortly set the offer price for its ~US$400-US$517.5mn US IPO, in the first major test of investor appetite for US-listed Chinese companies after the Luckin Coffee (LK US) debacle.
The final offer price, expected today, will value KC well below peer cloud providers.  The question remains whether the timing is right to narrow the valuation gap to its peers.
Shares commence trading tomorrow.


Preceding my comments on Kingsoft and Henderson 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%.



Beijing Kingsoft Office Softwa (688111 CH)

StubWorld: Kingsoft의 임박한 스핀오프