KUALA LUMPUR (Nov 17): CIMB Group Holdings Bhd’s 99.99%-owned subsidiary CIMB Bank Bhd had on Wednesday (Nov 17) announced a proposed issue by the latter of up to 150 million European-style non-collateralised cash-settled call warrants (GENM-C1H) at 15 sen each over casino and hotel operator Genting Malaysia Bhd shares.

In a Bursa Malaysia filing on Wednesday, CIMB Bank said GENM-C1H is expected to be listed on the Structured Warrants Board of Bursa on Thursday (Nov 18).

CIMB Bank said GENM-C1H, which was launched and allotted on Wednesday, has an exercise ratio of three call warrants for one Genting Malaysia share.

"[The] exercise price [of GENM-C1H is] RM3.05, being 97.44% of the closing price of Genting Malaysia shares on Nov 5, 2021 (price-fixing date). 

"On the price-fixing date, the closing price of Genting Malaysia shares was RM3.13,” CIMB Bank said.

CIMB Bank said GENM-C1H’s expiry date is on July 29, 2022.

In structured warrant terminology, European style means the call warrants may only be exercised on the expiry date.

At 10:19am on Wednesday, Genting Malaysia’s share price rose one sen or 0.32% to RM3.15, valuing the group at about RM17.8 billion based on the company’s 5.65 billion issued shares.

Year-to-date, the counter’s price had risen to current levels from its closing price at RM2.67 on Jan 4, 2021.