Business

Published: Tuesday September 18, 2012 MYT 10:50:00 AM

Kenanga Investment Bank issues 8 call warrants


KUALA LUMPUR: Kenanga Investment Bank Bhd is issuing eight new European style cash-settled call warrants over the shares of UOA Development Bhd, KPJ Healthcare Bhd, Public Bank Bhd, Alliance Financial Group Bhd, Bumi Armada Bhd, Gamuda Bhd, Kulim (Malaysia) Bhd and Rimbunan Sawit Bhd.

Kenanga Holdings Bhd said on Tuesday the issuance of the call warrants under its NagaWarrants brand to meet investors' demand for trading opportunities and alternative investments.

It said the call warrants would be listed on the Structured Warrants Board of Bursa Malaysia Securities Bhd on Wednesday with tenures of approximately one year and issue size of up to 100 million each.

The new call warrants are priced at 15 sen each with effective gearing ranging from 2.32 to 6.88 times.

"We believe the eight new warrants represent some of the favourite underlying counters amongst domestic stock traders," said Kenanga Investment Bank's head of equity derivatives and structured products, Seow Choong Liang.

Seow added these call warrants were targeted at traders seeking leveraged exposure to the underlying securities.

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