Public bank target price only rm6.18??

Should sell WC then buy into WB

Pursuant to the Proposed Rights Issue with Warrants and the Proposed Bonus Issue, the exercise price and the corresponding number of outstanding convertible securities or resultant Mah Sing Shares (as the case may be) will be adjusted in accordance with the terms of the trust deed for the Convertible Bonds and the deed poll for the Warrant B 2013/2018 (collectively “Governing Documents”).
The actual adjustment factor cannot be determined at this juncture as it is dependent on, among others, the Entitlement Basis and Issue Price of the Rights Shares and the prevailing market price on the date falling prior to the Price-fixing Date. Deloitte Malaysia has been appointed as Mah Sing’s Reporting Accountants for the Proposed Rights Issue with Warrants and the Proposed Bonus Issue. The computation of final adjustment factor, which will be reviewed and agreed by Deloitte Malaysia to be in accordance with the terms of the Governing Documents, will be notified to the holders of the convertible securities.
Nonetheless, for the purpose of this illustration, an adjustment factor of 0.7274 is adopted to illustrate on a preliminary basis the effect of the Proposed Rights Issue with Warrants and the Proposed Bonus Issue on the Convertible Bonds and Warrant B 2013/2018.
Based on the above, the conversion price and total number of Mah Sing Shares, the Convertible Bonds may be converted into will be adjusted to RM1.14 and 285.1 million respectively, whilst the exercise price and the number of Warrant B 2013/2018 will be adjusted to RM1.44 and 189.2 million respectively.