AmBank issuing Europe-style warrants

AmBank (M) Bhd is issuing two new European style cash-settled structured
warrants today to meet investors' demand for trading opportunities and
alternative investments for the current market.

The two new call warrants (CW) will be over the ordinary shares of SapuraKencana Petroleum Bhd (SKPETRO) and Facebook, Inc (FB).

The
structured warrants on SKPETRO and FB, which would be listed via the
market making method, would have tenures of approximately 10 months with
an issue size of up to 100 million each, Ambank said in a statement.

FB's shares will, however, not be readily accessible to Malaysia investors.

"But,
AmBank's call warrant on FB will provide domestic retail investors with
an alternative access and opportunity to participate in FB's stock
performance," said AmInvestment Bank Bhd Equity Derivatives
Director/Head Ng Ee Fang.

She said the listing of merged entity
SKPETRO had generated much interest among investors due to its size and
contract opportunities in the oil and gas sector, moving forward.

"Both
AmBank's call warrants on FB and SKPETRO will be the first structured
warrants over the respective underlying companies to be issued and
traded on Bursa Malaysia," Ng added.

SKPETRO's call warrant is
priced at 15 sen each with a gearing of 6.67 times while that of FB is
priced at 15 sen each with a gearing of 13.99 times. -- BERNAMA