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Global Derivatives Articles

Rebound of Mother Share a boon for ORION-WA

The new warrant (ORION-WA) of Orion IXL Berhad (Orion) started trading in Bursa Malaysia on 2 August 2017 following the completion of the company’s rights issue with free warrants.  Orion had undertaken a renounceable rights issue of 465.85 million shares at an issue price of 17 sen per share.  Subscribers of every two shares were rewarded with a free warrant resulting in 232.93 million warrants being issued.  Interestingly, the above rights issue was undersubscribed by 68% to pave way for the entry of new substantial shareholders in the company who made sure the full amount of RM79.20 million targeted for the rights issue were successfully secured.

BAHVEST-WA Effective Tool to Bet on Rebound of Mother Share

The new warrant of Borneo Aqua Harvest Berhad (BAHVEST-WA) made its debut on Bursa Malaysia on 25 August.  The warrant was given free to shareholders of Borneo Aqua based on 1 free warrant for every 2 shares held prior to the ex-date of 14 August.  A total of almost 300 million warrants were issued.  BAHVEST-WA ended its first trading day at 21 sen and since has been trading within a relatively tight range ending trading on 6 September at 22 sen while the mother share closed at 64.5 sen on the same day.

M3TECH-WA enter New Growth Phase

The shares and warrants of M3 Technologies (Asia) attracted heavy investors’ interest recently despite the company posting a bigger loss in the latest financial year ended 30 June 2017.  This may be attributed to the company’s new range of products and services gaining traction as the company enters a new exciting growth phase.  M3 Technologies’s share price has been hovering between 9.5 sen and 10 sen this week after digesting the negative earnings news closing at 9.5 sen on 30 August while the warrant M3TECH-WA was last traded at 4.5 sen.

EWINT-WA : IPOs with Free Warrant Continue Dismal Performance

When Eco World International Berhad (EWI) announced its IPO earlier this year, investors were excited by the key shareholders and corner stone investors.  However, when the company resorted to giving subscribers of the IPO free warrants as sweetener, it had probably indicated to the investors that the IPO price of RM1.20 was a tad too high.  While EWI did trade above its IPO price for three weeks after it started trading on Bursa Malaysia in early April, the share price could not sustain after that.  Those IPO subscribers who sold early still had free warrants attached to the IPO to offset losses suffered in mother share.  However, if they did not sell early enough, they would be suffering losses subscribing for EWI IPO at RM1.20 at the last traded mother share and warrant prices at RM1.06 and 25 sen respectively as at 23 August 2018.

AHB-WB : Switch to Mother Share as Warrant’s Gearing Not Attractive

Office furniture maker AHB Holdings Berhad share price rose substantially from 17 sen in the beginning of the year to as high as 43.5 sen in the middle of July as the company’s managing director s managing director Yong Yoke Keong stated in recent media interviews that one of its big customers has given the company an order as large as RM30 million over the next two to three years.  Nevertheless, the share price dropped significantly towards the end of July and it is now hovering around 27 sen.  Its company warrant AHB-WB was trading around 17 sen at the time of writing.

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Analysis

Warrant Ranking by Premium (7 Aug 2016)

Warrant Ranking 7 Aug 2016 by Premium

 

 

 

 

 

 

 

 

 

MALAYSIA LOAN STOCK ANALYSIS 27 MAY 2015

The following is a list of loan stock listed on Bursa Malaysia as at (date).

Malaysia Loan Stock Analysis 270515

Change in Shareholdings (1/5/2015 - 31/5/2015)

The following is a list of change in shareholdings as at (date).

May 2015 (1 May 2015 - 31 May 2015)

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