6 new call warrants from OSK will be listed on 27 Apr 2010, all expired at 24/01/2011:
New Warrants/Mom Ex Price Ratio Issue U Paid: Premium
KENCANA-CB(1.59) MYR 1.45 2 : 1 0.15 1.75 10.0% (CA better)
TCHONG-CC(4.74) MYR 4.25 4 : 1 0.20 5.05 6.5% (OK)
TOPGLOV-CC(12.98) MYR 11.80 15 : 1 0.15 14.05 8.2% (CB better)
HARTA-CB(7.88) MYR 6.90 10 : 1 0.15 8.40 6.6% (OK)
MUDAJYA-CA(5.15) MYR 4.70 6 : 1 0.15 5.60 8.7%
MISC-CH(8.96) MYR 8.60 6 : 1 0.16 9.56 6.7%
Let's check whether worth to buy or not.
I think OSK mispricing all the warrant, damn expensive.
Maybe I am wrong. Only Harta-CB and Tchong-CC can consider.
My formula:
Premium measures the percentage over the underlying security price required to break-even upon exercise or on expiry of the warrants:
Premium =(Call Warrant Price x Exercise Ratio) + Exercise Price - Underlying Security Price
Underlying Security Price
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