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OWG-WA: Attractive if mother price stabilises

OWG-WA, the new company warrant of Only World Group Holdings Berhad, made its debut on 5 October 2018 at Bursa Malaysia.  OWG-WA was issued free to shareholders of Only World Group via a bonus issue on the basis of one free warrant for every two shares held.  A total of 133.55 million warrants were issued to the shareholders.  OWG-WA had a good debut at 32 sen on the first day of trading and rose to as high as 36.5 sen.  However, an off-market trade of 25 million warrants representing more than 18% of OWG-WA at 18 sen on 5 October, sent the warrant tumbling over the next few days as investors found out the major shareholders and co-founders of the group disposed the block of warrants.  At the close of trading on 16 October, OWG-WA was last traded at 19 sen while the mother share closed at 73.5 sen.  Only World Group share price has lost over 23% in eight trading days ever since the insiders disposed such a large chunk of warrants on the first day of trading.

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