news

S P Setia warrant jumps ahead of Jan 4 suspension

KUALA LUMPUR (Dec 27): The warrant of S P Setia Bhd, S P Setia-WB, rose as high as 112% today to 18 sen per unit ahead of its trading suspension on Jan 4.

The warrant, which topped the active list of counters, will expire on Jan 21, 2013. Its last trading day is Jan 3.

At 4.36pm, the warrant rose 6 sen or 70% to 14.5 sen on volume of 62.6 million units, after hitting a high of 18 sen. Yesterday, it closed at 8.5 sen.

According dealers, retail investors who thought it was cheap to buy into the warrant and convert into the mother share next month, jumped in to pick up S P Setia-WB today.

The conversion price is RM2.99.

At the same time, S P Setia Bhd share rose 6 sen to RM3.11, hitting a high of RM3.17, on volume of some 4 million shares.

“After the rise, it is no longer cheap unless the mother share rises further. As SP Setia is having a net tangible asset of RM2.01 per share, it is not an undervalued counter,” said another dealer.

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
SHARE