Maybank IB issues 16 new warrants

PETALING JAYA: Maybank Investment Bank Bhd (Maybank IB) has issued 15 new European-style cash-settled call warrants (CWs) and one new put warrant over the FTSE Bursa Malaysia KLCI (FBM KLCI) with an issue size of 100 million each.
The CWs are over ordinary shares of Bumi Armada, Eco World Development Group, Gamuda, Globetronics Technology, Hengyuan Refining Co, IJM Corp, Inari Amertron, My E.G. Services, Sime Darby Property, Sime Darby, Tenaga Nasional, Unisem (M), V.S. Industry, YTL Corp and the FBM KLCI.
The tenure for the warrants is about eight months.
“The structured warrants issued in this tranche are primarily a reissuance of structured warrants that have either expired or are expiring soon,” Maybank Investment Bank said in a statement.
This issuance covers key sectors of the economy including the construction, property, manufacturing and oil & gas sectors, with additional warrants issued over the FBM KLCI.

While Maybank Investment Bank Research has revised its year-end target for the FBM KLCI downwards to 1,750 points from 1,840 points previously, it expects the market to be range-bound for the second half of the year.