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23 April 2001
Warrants issued on Dimension Data, M-Cell
BY
IAIN SCOTT
[
23 April 2001
] -
Investment bank UBS Warburg has issued a call warrant on M-Cell as well as put and call warrants on Dimension Data .
The bank has issued several other warrants in various sectors of the SA market, including warrants onAbsa Group , SA Breweries and Billiton .
A warrant is a medium to long-term option listed over a share and traded on the stock exchange. The owner has the right to buy or sell the underlying share at a specific price at some future date.
A call warrant gives the holder the right to buy the underlying share while a put warrant gives the right to sell the share.
The issue size of each of the new UBS Warburg equity warrants will be set at 100 million and will be over American-style call warrants and European-style put warrants.
A European warrant is one that can be exercised on a specified day, while American warrants can be exercised over a period.
The exercise price has been set approximately 10% - 15% out of the money with an expiration date of 26 April 2002.
“The underlying counters which were chosen to expand our current offering were selected on the grounds that they are broadly representative of the primary sectors of the domestic equity market,” UBS Warburg says.
“The underlying issues are also among SA's largest corporations in terms of market capitalisation, and as a result are among the most liquid stocks on the JSE Securities Exchange.”
The bank has issued several other warrants in various sectors of the SA market, including warrants on
A warrant is a medium to long-term option listed over a share and traded on the stock exchange. The owner has the right to buy or sell the underlying share at a specific price at some future date.
A call warrant gives the holder the right to buy the underlying share while a put warrant gives the right to sell the share.
The issue size of each of the new UBS Warburg equity warrants will be set at 100 million and will be over American-style call warrants and European-style put warrants.
A European warrant is one that can be exercised on a specified day, while American warrants can be exercised over a period.
The exercise price has been set approximately 10% - 15% out of the money with an expiration date of 26 April 2002.
“The underlying counters which were chosen to expand our current offering were selected on the grounds that they are broadly representative of the primary sectors of the domestic equity market,” UBS Warburg says.
“The underlying issues are also among SA's largest corporations in terms of market capitalisation, and as a result are among the most liquid stocks on the JSE Securities Exchange.”
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