On 7th April 2024, we spotted significant price volume action by EFRAME-WA. According to our studies, EFRAME and EFRAME-WA typically move in the same quantum as both are closely correlated. However, in the past week, we spotted a sudden spike in price and volume for EFRAME-WA, which could hint at an increased interest in the company. 

Salient information about the warrant:

• Maturity by 19th December 2027.

• Conversion ratio of 1:1. 

• Strike value of RM0.420.

• Premium of 7.59% with EFRAME-WA being RM0.430.

From what we see here, EFRAME-WA maturity is over 3 years from now, hence giving them a time value premium due to the potential upside of EFRAME. The warrant is currently trading at RM0.430, representing a premium of mere 7.59% for the 3 year maturity warrant. We deem this as the beginning of uptrend for EFRAME-WA based on their discount on time value, and growing fundamentals of EFRAME.