RCE CAPITAL BHD-RCNCPS 12/19
KLSE (MYR): RCECAP-PA (9296PA)
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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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It all boils down to whether you like RCE capital, the company. This Preference share is 96% held by Tan Sri, and you can expect big spread and thin volume till 2019.
RCE is really a big contrast to MBSB, unable to capitalise on loan growth in Malaysia.
RCE should have no problem in paying you back in cash in 2019's redemption. If it needs cash, it will ask from bankers and ordinary shareholders from now till 2019.
20sen a year preference share dividend is not much but you will get 3% higher than return on fixed deposit, but the bigger consideration is whether RCE is likely to improve in coming years so that you can convert your preference shares to ordinary shares to enjoy the capital gain. If you believe RCE will improve, this preference share is a good option as it has the insurance of cash payback at issue price of 38sen a preference share.
2013-11-08 13:59
Received dividend today. DY = 5.26% based on subscription price of 38sen per share
2013-12-04 11:05
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CS Tan
4.9 / 5.0
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messi
Non-cumulative preferential dividend of 20% (equivalent to 2 sen). Ex-date 25/11/13. Stock price 32sen. Dividend yield = 6.25%. Is it worth buying ?
2013-11-06 21:23