Highlights
KLSE: SSTEEL-LB (5665LB)       SOUTHERN STEEL BHD MAIN : Industrial Products
Last Price Today's Change   Day's Range   Trading Volume
1.45   0.00 (0.00%)  0.00 - 0.00  0

Overview

Type:Loan Stocks
Sector:
Listing Date:Jan 30, 2015
Maturity Date:Jan 24, 2020
Issue Size:-
Exercise Price:MYR 1.05
Ratio:
Underlying Stock:SSTEEL
Avg Volume (4 weeks):0
4 Weeks Range:1.44 - 1.49
52 Weeks Range:1.44 - 2.25

Additional Info

Announcement: [Jan 29, 2015] Profile for Loan Stocks
Issuer:-
Description:5-year 5% redeemable convertible unsecured loan stocks (“RCULS”)
Trade this stock with 3 x trading limit. Find out more.

  Be the first to like this.
 
Solo Can someone explain to me how does this LB work?
28/04/2017 11:21
gforce2 SSTEEL-LB is a loan stock, with fixed interest repayments of 5% (5 sen/yr, paid at half-yearly intervals), from 2015-2020. As far as I can figure, it is a 1:1 conversion to mother share (The RM1.05 exercise price refers to the initial price to buy the loan stock in 2015). Conversion can be done at any time, via your remisier/brokerage.

The reason for the low volume is because -LB stockholders were getting 5 sen annual returns (better than FD) while mother share had no dividend since 2014.

Given that the mother share just declared a 3 sen dividend ... you can expect some interest in this counter, as a cheaper entry to own the mother share.
Note that at RM1.40, loan stock interest works out to only 3.57% p.a.


References:
http://www.bursamalaysia.com/market/listed-companies/company-announcements/4205517
http://www.bursamalaysia.com/market/listed-companies/company-announcements/3644697
28/04/2017 14:36
Jimmy Lim cheap.
15/08/2018 22:03


 

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