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BJCORP-CB : Beware of Further Issuance When Implied Volatility is High |
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Written by Alan Voon
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Saturday, 08 May 2010 11:48 |
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Berjaya Corporation share price rose last few days despite the global equity sell-off on. This has also led to heavy trading of its structured warrants listed on Bursa Malaysia. Due to the presence of issuers as market makers, investors need to pay special attention on how the game is being played. This is especially when the implied volatility of one warrant is exceptionally high and there can be risks of further issuance of the same warrants by issuers as illustrated below.
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Last Updated on Sunday, 29 August 2010 23:53 |
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成功集团备兑凭单比较，BJCORP-CB引伸波幅高发行商或增发 |
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Written by Alan Voon
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Saturday, 08 May 2010 11:51 |
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虽然全球股市在过去几天陷入惊慌抛售的情况，成功集团的股项却逆市上涨。这也带动到有两项在大马股市交易的备兑凭单。它们分别是由联昌投资银行发行的BJCORP-CA以及由大马投资银行旗下的BJCORP-CB。由于备兑凭单有发行商在”造市”，其游戏规则和一般公司凭单不一样。投资者需特别注意以下的一些状况。
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Last Updated on Sunday, 29 August 2010 23:53 |
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Dual Listing: Is Bursa Malaysia Valuation Always Lower? |
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Written by Editor
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Tuesday, 04 May 2010 10:51 |
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Many companies are looking to have dual listing in order to boost the market valuation, hoping that higher valuation for their stocks in foreign markets will boost share price.
But is that always the case?
If the share price performance of Media Chinese International Limited (MEDIAC) is an indication, many would be disappointed. Media Chinese is listed in both Bursa Malaysia and Hong Kong Stock Exchange (0685.HK). On May 3rd 2010, Media Chinese closed at RM0.815 in Malaysia and HK$1.78 in Hong Kong. Using an exchange rate of RM0.4127 per HKD, the share price in Hong Kong was RM0.735. This is a 9% discount over the share price in Malaysia.
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Last Updated on Sunday, 29 August 2010 23:53 |
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Written by Alan Voon
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Saturday, 08 May 2010 11:53 |
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最近许多海外股票交易所如台湾和香港分别大力招揽海外挂牌公司到它们的交易所第二上市。许多公司在它们的首要上市交易所的股价由于投资者对它们不熟悉而使得它们的股价被低估。许多在新加坡股票交易所的公司，特别是有中资背景的那些，都积极探讨或已经在其他股票交易所做第二上市。有几家公司如中国心连心（China XLX）、Z-Obee以及置富产业（Fortune REIT）在香港第二上市。也有一些公司如殴圣(Oceanus)选择到台湾股市通过存托凭证(TDR)第二上市。它们的股价之前都受到第二上市刺激而曾经大涨。
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Last Updated on Sunday, 29 August 2010 23:53 |
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Spike in MBFHLDG-WA Price caused by Major Shareholder’s Trading? |
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Written by Editor
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Monday, 03 May 2010 15:29 |
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The performance of MBFHLDG-WA after the company’s minority shareholders rejected its major shareholder’s plan to privatize the company has been spectacular. The warrant had rallied from 7 sen before the privatization plan was shot down to about 15 sen at the time of writing.
While the cases of warrants shooting up post failure of takeover or privatization has been featured here before, the case of MBFHLDG-WA could the first time where the major shareholder had a hand in leading the price action of the warrant.
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Last Updated on Sunday, 29 August 2010 23:57 |
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