Bioalpha Holdings Berhad recently completed a rights issues of ordinary share and ICPS (Irredeemable Convertible Preference Share). The rights issue was a relatively small one as it was only offered to shareholders based on a ratio of 1 for 15 (for the mother share at 20 sen per share) and 1 for 6 (for the ICPS at 2 sen per share). Based on the company announcement last week, the rights issue was oversubscribed by 55% for the mother share and 208% for the ICPS.

The share price of Pensonic Holdings Berhad has been on a steady upward path aided by persistent share buyback. There could also be some speculation that the company may be able to report good results in its second quarter of FYE 5/21 which ended 30^th November 2020.

In its first quarter, Pensonic posted much better top line and bottom line.

PENSONI-WB is trading at a premium of close to 40%, which is not overly high for a warrant with 3 years to go. The warrant is attractive in terms of gearing. If the volume increase for the mother share, it is likely PENSONI-WB can outperform the mother share.

Velesto Energy Berhad attracted some investors’ interest as we enter the month of September after the Group recorded a turnaround in the second quarter of 2019.  Velesto has been suffering losses in the last four financial years and this turnaround together with more optimistic outlook provided by the company improved sentiment on the stocks.  Despite a surge in intraday trading to as high as 32 sen on 3^rd September, Velesto mother share ended the day flat at 30.5 sen while the company warrant VELESTO-WA dropped 0.5 sen to close at 11 sen.

MNC Wireless Berhad attracted some interest lately with the mother share price surging from 6 sen to 9 sen so far in the month of August 2019.  This may be attributed to the on-going rights issue exercise the company is implementing.  MNC Wireless is in the midst of completing its rights issue of Irredeemable Convertible Preference Shares (ICPS) to raise up to RM113.08 million.  According to the company’s announcement, it is offering shareholders to subscribe up to 3.77 billion ICPS at an issue price of 3 sen per ICPS on the basis of 50 ICPS together with 1 free warrant for every (warrant B) for every 10 shares held on the entitlement date of 7^th August 2019.  The surge in interest in MNC Wireless securities happened after the ex-date for the rights issue and the share price has risen to close at 9 sen on 27^th August while the company existing warrant MNC-WA closed at 2 sen.