CIMB Bank has issued 50 million callable bull certificates each over the shares of AIRASIA BHD [], GAMUDA BHD [], GENTING BHD [] and Berjaya Corp Bhd and they will listed on Friday, July 16.
CIMB Bank, which is the issuer, said on Thursday the issue price for AirAsia bull certificates is 16 sen; Gamuda at 15 sen, Genting 16.5 sen, and Berjaya Corp 16 sen.
It said the proposed issuance for AirAsia certificates would be 50 million European-style non-collateralised cash-settled callable bull certificates over AirAsia.
It will be at an exercise ratio of two to one at an exercise price of RM1, which is 84% of the closing price of AirAsia shares on the price fixing date on July 1.
It said the call price is RM1.05, being 84% of the closing price of the shares on the price fixing date. The issue price is 16 sen, being (i) 25.6% of the closing price of the shares on the price fixing date, (ii) divided by two (the exercise ratio).
For Gamuda, CIMB Bank is issuing up to 50 million bull certificates. The exercise ratio is five to one, exercise price is at RM2.55, call price RM2.70, issue price 15 sen (23.58% of the closing price on the price fixing date, divided by five (the exercise ratio).
As for Genting, CIMB Bank is issuing 50 million bull certificates. The exercise ratio is 10 to one, exercise price is RM5.80, call price RM6.15. The issue price is 16.5 sen, equal to 22.92% of the closing price on the price fixing dateand also divided by 10 (being the exercise ratio).
CIMB Bank also said for Berjaya Corp, the exercise ratio is two to one and the exercise price is 98 sen, or 79.03% of the closing price on the price fixing date while the call price is RM1.06. The issue price is 16 sen.
Written by Joseph Chin
The Edge Malaysia
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