YTLPOWER
Just when I thought the market was waiting for more dilution of YTLPOWR shares after the warrant announcement, volume and prices suddenly picked up on Monday causing the share price to close higher. Another thing I noticed was there is no more share buybacks by the company which is done almost everyday. The 18th of April was the last day it done it's last share buyback, and continued it after the warrant sale announcement.
The latest announcement states that the 15th of May will be last day it will register shareholders eligible for the warrants. So until then, prices will tend to gravitate towards the fair price after taking into account of the discount the warrants gives for owning YTLPOWR shares. Unless any big exercise of previous warrants is done, prices will stay more or less higher at RM2.60 - RM2.80.
My broker called me in the afternoon to ask me as well if I wanted to top up YTLPOWR shares so I can receive a round figure for the number of warrants, I would think that would facilitate future trades of the warrant in lots (100 shares) if I subscribe for it.
Prices jumped on some heavy buying on Monday and Tuesday. Probably for the same reason the broker enticed me to buy more. Some 1.1 mil 2000/2010 warrants were exercised on Monday as well as 2.3 mil shares issued for convertible bonds in the last 3 days.
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