The COSCO warrant (COSCO CWB1580018. SH), separated from the convertible corporate bonds traded separately, rose by a limit of 8.461 yuan on the first day of listing yesterday. Positive shares COSCO Shipping (600428. SH) continue to walk below the exercise price.
COSCO CWB1 is a European style warrant, which was closed at the opening yesterday, up 41.65%. The positive share price opened higher and closed lower at 38.99 yuan, down 2.01%. COSCO Shipping's share price has been falling for a week and fell below the exercise price the day before yesterday.
According to COSCO Shipping's announcement, the initial exercise price of its warrants was 40.38 yuan/share, and the exercise ratio was 2:1, that is, every two warrants could subscribe for one share of COSCO Shipping's A shares. The company issued 51.45 million warrants this time, with a duration of one and a half years, from February 26, 2008 to August 25, 2009.
In an interview with China Business News yesterday, COSCO Shipping said that similar to other companies' warrants, the first day of listing was basically a trading limit. In addition to the stock price, "the warrant price also depends on the volatility of a certain period and the length of the exercise period." Mihua
