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Credit Suisse Issues Warrants for Five Companies: A Look at the Details

Strategic Insights

— 1 min read

Credit Suisse (Hong Kong) Limited has announced the issuance of warrants for five companies, offering investors a chance to purchase shares at a lower price. The warrants are listed on the Hong Kong Stock Exchange and expire on various dates between April and June 2021. The underlying companies include Country Garden Holdings, Meituan Dianping, Semiconductor Manufacturing International Corporation, MicroPort Scientific Corporation, and Meituan Dianping.

Key Takeaways:

  • Credit Suisse issued warrants for five companies, offering investors a chance to purchase shares at a lower price.
  • The warrants are listed on the Hong Kong Stock Exchange and expire on various dates between April and June 2021.
  • The underlying companies include Country Garden Holdings, Meituan Dianping, Semiconductor Manufacturing International Corporation, MicroPort Scientific Corporation, and Semiconductor Manufacturing International Corporation.
  • The warrants have different issue sizes, board lots, and issue prices, ranging from HK$0.150 to HK$0.450 per warrant.
  • The implied volatility and effective gearing of the warrants vary, ranging from 52.22% to 108.96% and 1.84x to 4.46x, respectively.
  • The premiums of the warrants range from 31.36% to 38.90%, indicating varying levels of risk and potential return.

Statistics:

  • Issue size: 70,000,000 (Country Garden Holdings), 200,000,000 (Meituan Dianping), 70,000,000 (Semiconductor Manufacturing International Corporation), 70,000,000 (MicroPort Scientific Corporation), and 80,000,000 (Meituan Dianping)
  • Board lot: 5,000 (Country Garden Holdings), 10,000 (Meituan Dianping), 5,000 (Semiconductor Manufacturing International Corporation), 5,000 (MicroPort Scientific Corporation), and 5,000 (Meituan Dianping)
  • Issue price per warrant: HK$0.150 (Country Garden Holdings), HK$0.250 (Meituan Dianping), HK$0.340 (Semiconductor Manufacturing International Corporation), HK$0.450 (MicroPort Scientific Corporation), and HK$0.250 (Meituan Dianping)
  • Implied volatility: 52.22% (Country Garden Holdings), 59.95% (Meituan Dianping), 90.62% (Semiconductor Manufacturing International Corporation), 88.53% (MicroPort Scientific Corporation), and 108.96% (Meituan Dianping)
  • Effective gearing: 4.46x (Country Garden Holdings), 3.91x (Meituan Dianping), 2.78x (Semiconductor Manufacturing International Corporation), 2.56x (MicroPort Scientific Corporation), and 1.84x (Meituan Dianping)
  • Premium: 31.36% (Country Garden Holdings), 33.14% (Meituan Dianping), 40.85% (Semiconductor Manufacturing International Corporation), 25.96% (MicroPort Scientific Corporation), and 38.90% (Meituan Dianping)

Sources:

  • Credit Suisse (Hong Kong) Limited announcement
  • Listing Rules of the Hong Kong Stock Exchange

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