KUALA LUMPUR: Shares of MSM Holdings Bhd fell in late afternoon on Wednesday, June 29, as profit taking picked up pace in heavy trade in the company which made headlines in its trading debut on Tuesday.
As at 3.18pm, it was down 16 sen to RM4.73 with more than 13 million transacted. However, it is still up by a commendable RM1.23 from the institutional price of RM3.50.
The FBM KLCI was up 1.92 points to 1,571.94. Turnover was 710.83 million shares valued at RM953.98 million. There were 352 gainers, 310 losers and 326 stocks unchanged.
MSM, which made its trading debut on Tuesday, surged'' RM1.39 or 39.7% to close at RM4.89 with 101.92 million shares.
MSM's institutional price was fixed at RM3.50 and for retail investors at RM3.38 per share after the book-building exercise.
AmResearch has valued MSM at RM4.53 per share while RHB Research Institute had accorded a fair value of RM4.90 to the shares.
Instrument : Non-collateralised cash settled European-style call warrants over MSM
Shares
Issuer : OSK Investment Bank Berhad
Market Maker : OSK Investment Bank Berhad
Underlying Security : MSM Shares (Bursa Securities stock name: MSM)
Exchange : Bursa Malaysia Securities Berhad (“Bursa Securities”)
Issue Size : Up to 80,000,000 SW
Exercise Ratio : Five (5) SW shall initially be entitled to one (1) MSM share
Price Fixing Date : 28 June 2011
Offering Date : 7 July 2011
Expected Listing Date : 8 July 2011
Exercise Price : RM4.50, being 98.04% of the Reference Price, rounded to the nearest two
(2) decimals
Expiry Date : 7 May 2012, being the date falling ten (10) months from and including the
Issue Date
Issue Price : RM0.150, being (i) 16.34% of the Reference Price divided by (ii) the
Exercise Ratio, rounded up to the nearest half sen
MSM CA & CB : 5:1 ratio + exercise price RM 4.50 = RM6.07
MSM CC : 8:1 ratio + RM4.88 = RM6.36
Current MSM price RM5.42
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