And nop, Mr Ooi is not director or company staffs ya, he is just another shareholder but with a substantial stake (>5%), therefore his transactions will need to announce in Bursa..and rationally speaking, I believe he also doesn't want to sell at low prices bah😅
@alphacapx, in my opinion, the sold down this morning likely is from an individual, or passive funds which got it when they held mother share last time when it was distributed. So when index rebalanced (frontkn exposure reduced or removed from an index), then naturally the free warrants will be disposed off. If substantial holder dispose, then few days later we shall see announcement. Anyway, the graphs of wb & mother share do not correlate now as the holders are different, eg. EPF bought 100mil mother shares does not mean they also bought 100mil warrants, they probably do not hold any warrants. The big environment to entice warrant movement is interest rate reduction (US), while the fundamental movement will come from the company fundamentals to drive mother share towards RM4 and above. As long as these 2 factors happen anytime now before 2026 (warrant expires 2026 May), then we *should see it moves. For a reference, I think we can see VS-WB, it expires next year 2024, which is only a few months away, conversion price is 1.38. So naturally with a few mths left the mother is only at 89sens now and current fundamentals, people will not buy it already as probability of mother share to go from 89 -> 1.38 in a few mths under current situation is small..
Warrants look like the bigger play here. Massive sell-off was temporary and fundamentals pushed it back to a high of 25. As FED rate hike has tapered, foresee the warrants heading back to 27-30sen.
@jooortp, from latest announcement, Mr ooi has about 131.8mil (abt 8.38%) shares on hand still...but soon we may not see announcement from his transactions after his holdings are reduced to below 5%..
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Posted by jooortp > 2023-07-29 17:02 | Report Abuse
Next Thurs (3.8.23) should be QR release