KLSE (MYR): SSTEEL-LB (5665LB)
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Last Price
0.80
Today's Change
0.00 (0.00%)
Day's Change
0.80 - 0.81
Trading Volume
2,000
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3 comment(s). Last comment by Jimmy Lim 2018-08-15 22:03
Posted by gforce2 > 2017-04-28 14:36 | Report Abuse
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
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CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Solo
244 posts
Posted by Solo > 2017-04-28 11:21 | Report Abuse
Can someone explain to me how does this LB work?