|
Guotai Jun'an plans to issue covered warrants to curb excessive speculation
News from our newspaper: Following the crazy limit increase on Monday, Baosteel Warrants yesterday（ information quotation forum ）Continue to rise sharply. The highest touch of the day was 1.830 yuan, up nearly 45%, closing at 1.586 yuan, up 25.57%. At the same time, due to the T+0 trading of warrants, its turnover rate on Tuesday exceeded 330%.
For the current trend of Baosteel warrants, most insiders believe that it is almost crazy and speculative. To curb excessive hype, the reporter learned that Guotai Jun'an negotiable securities The application for issuing Baosteel covered warrants has been submitted to Shanghai Stock Exchange. The main terms of the warrant and the listed Baosteel JTB1（ information quotation forum ）The warrant is completely consistent. The issuing price will be far lower than the closing price of Baosteel JTB1 yesterday. At the same time, Guotai Jun'an also submitted Shanghai Securities 50（ information quotation forum ）Application for issuance of ETF warrants. The insiders pointed out that this would help prevent the warrants from being hyped excessively.
Guotai Jun'an said that the exercise price, exercise ratio and maturity date of the proposed Baosteel covered warrants are completely consistent with the existing Baosteel JTB1. For investors, the value of these two warrants should be the same. However, the issue price of Baosteel's covered warrants will be calculated based on the implied volatility of 45%（ information quotation forum ）At the closing price of 4.63 yuan, the issue price is about 0.95 yuan, which is 60% lower than the closing price of Baosteel JTB1 yesterday.
The insiders pointed out that if the new warrants were issued, it would cool down the excessive speculation of the warrants. It is reported that in mature overseas markets, increasing the supply of warrants is an effective way to prevent excessive speculation of warrants. The issuance of covered warrants of Baosteel and other underlying securities will increase the supply of warrants.
Sina statement: The content of this article is purely the author's personal view, only for investors' reference, and does not constitute investment advice. Investors operate accordingly at their own risk.
|
