□ Our reporter Chen Jianjun
Whereas Ansteel JTC1 The expiration date of the warrant is approaching, Angang Steel Today's announcement reminds them of the risk of a 5.38% premium.
On October 12, Ansteel The closing price of the shares is 6.32 yuan, and the exercise price of Angang JTC1 is 3.386 yuan. Therefore, the internal value of Angang JTC1 is 2.934 yuan. The theoretical value of Angang JTC1 is 2.944 yuan based on the Black Sholes formula, the volatility of 6.32 yuan and 39.1% of the stock price, and the risk-free interest rate of 2.25%. Therefore, the closing price of Angang JTC112 was 3.274 yuan, with a premium rate of 5.38%.
The duration of Angang JTC1 expires on December 5 this year, the last trading day is November 28, and the exercise date is December 5. According to the regulations, every investor holding an Angang JTC1 has the right to purchase an Angang share from Angang Group at a price of 3.386 yuan on December 5 shares 。
