SOUTHERN STEEL BERHAD - RCULS 2015/2020
KLSE (MYR): SSTEEL-LB (5665LB)
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Last Price
0.80
Today's Change
0.00 (0.00%)
Day's Change
0.80 - 0.81
Trading Volume
2,000
Company warrants are issued by the company and give the holders the right, but not an obligation, to subscribe for new ordinary shares at a specified price during a specified period of time.
Structured warrants are proprietary instruments issued by a third-party issuer, namely an eligible broker or financial institution that give holders the right, but not the obligation, to buy (call warrants) or sell (put warrant) the underlying instrument in the future for a fixed price.
A call warrant is in-the-money when the exercise price is lower than the price of the underlying share.
A put warrant is in-the-money when the underlying share price is lower than the exercise price.
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SSTEEL-LB is a loan stock, with fixed interest repayments of 5% (5 sen/yr, paid at half-yearly intervals), from 2015-2020. As far as I can figure, it is a 1:1 conversion to mother share (The RM1.05 exercise price refers to the initial price to buy the loan stock in 2015). Conversion can be done at any time, via your remisier/brokerage.
The reason for the low volume is because -LB stockholders were getting 5 sen annual returns (better than FD) while mother share had no dividend since 2014.
Given that the mother share just declared a 3 sen dividend ... you can expect some interest in this counter, as a cheaper entry to own the mother share.
Note that at RM1.40, loan stock interest works out to only 3.57% p.a.
References:
http://www.bursamalaysia.com/market/listed-companies/company-announcements/4205517
http://www.bursamalaysia.com/market/listed-companies/company-announcements/3644697
2017-04-28 14:36
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Solo
Can someone explain to me how does this LB work?
2017-04-28 11:21