...SNOW, how do you get cum price 1.38 and ex-all price 0.525 (and these are for mother share?) and how do you get another cum price 0.715?? Please share
Hi hakubasnow, I feel the same for your theoretical jftech warrant price on 3 Feb. Thanks for referencing the esceram example (I got the esceram bonus that time). Have you noticed the theoretical x-all price of jftech on 20 Jan which is reflected on ChartNexus adjusted 19 Jan closing price has not taken into account the bonus warrants?
I calculated the same jftech ex-all price of 1.518 on 20 Jan..... I think charts like ChartNexus and KLSE Screener(tradingview) only show the ex-bonus shares price of 1.698 on adjusted closing of 19 Jan without adjusting for bonus warrants
EITA, ESCERAM, JFTECH, AMTEL --same group KPOWER, SCIB, RHONEMA, SPRING ART --another group Are the above correct. Correct me if I am wrong. PLEASE SHARE
So the question now is why is the calculation for SCIB different from that for ESCERAM or JFTECH ?
That is because SCIB went ex on 30/12/20 ONLY for bonus issue 3 for 1 And ex-date on 02/02/21 is for free warrant 1 for 2
For example if you bought 1000 SCIB BEFORE 30/12/20 you ended with total of 4000 shares. Let say you sell you bonus or existing share BEFORE 02/02/21 you will not receive any free warrants
But for JFTECH the ex-date on 20/01/21 was for Bonus Issue AND Free Warrants So when you try to find the theoretical price, you must use the number 6 formula and you will get the ex-all price for both Bonus Issue AND Free Warrants. And for JFTECH (also for ESCERAM) the company listed the bonus and warrants on the same day.
Then what happen on 03/02/21 ? It's NOT an ex-date for JFTECH but merely the listing date for JFTECH free warrants, to find theoretical price of the warrant :
The easiest way to be sure is to read the announcement that the company made for Bonus Issue Ex-date and also Notice of Bonus Entitlement.
For example EITA made the announcement on 14/01/21 for ex-date for BOTH : Bonus and Warrant to be fixed on 27/01/21
But JFTECH announced on 30/12/20 ex-date for ONLY the Bonus Issue, although on the same day they did not mention anything about the warrant, you can safely conclude that the warrant will go ex on another date.
For Solarvest the calculation for the warrant theoretical price will be using formula number 5 because the warrant will first be listed.
But there are cases where companies proposed only free warrants entitlement but on cum date the closing price were lower than the exercise price, namely :
KOMARKCORP BERHAD Bonus Free Warrants : 1 for 2 Exercise Price = 1.00 Ex-date = WED 06/01/21 Closing Cum-Price = 0.91 Theoretical Price for FW = 0.005 Listing Date for KOMARK-WC = FRI 15/01/21
ENRA GROUP BERHAD Bonus Free Warrants : 1 for 3 Exercise Price = 1.00 Ex-date = TUE 22/12/20 Closing Cum-Price = 0.635 Theoretical Price for FW = 0.005 Listing Date for ENRA-WA = THU 07/12/20
GD EXPRESS Bonus Free Warrants : 1 for 8 Exercise Price = 0.45 Ex-date = TUE 29/12/20 Closing Cum-Price = 0.375 Theoretical Price for FW = 0.005 Listing Date for GDEX-WC = TUE 12/01/21
I know for a fact you cannot apply the number 5 formula. But based from the theoretical prices that I saw on listing day, Bursa fixed the adjusted price at 0.005
kpower-wa listed recently on 25 Jan also like that, exercise price 2.50 is higher than kpower 24 Jan closing price 2.45, so kpower-wa started off with reference price of 0.005 and limit up to 0.305 on 25 Jan....
What a bored day as Bursa is still closed in conjunction with FT day public holiday. No challenge at all. Can't wait for tomorrow action of retailers vs IB / shorties.
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Posted by hengsame > 2021-01-30 23:35 | Report Abuse
Hi, ....snow, what is cum price? and x-all price?