Kenanga issues call warrant on Lotte to investors

The size of the Lotte Chemical Titan Holdings Bhd listing on Bursa Malaysia is attracting investment banks to offer call warrants to investors.

Kenanga Investment Bank Bhd yesterday announced it is issuing 11 new European-style, cash-settled call warrants on shares of companies including Lotte.

The call warrants, issued under its NagaWarrants umbrella, will also offer call warrants over shares of 7-Eleven Malaysia Holdings Bhd, BIMB Holdings Bhd, CIMB Group Holdings Bhd, Hartalega Holdings Bhd, IJM Corp Bhd, Karex Bhd, Muhibbah Engineering (M) Bhd, Top Glove Corp Bhd and Westports Holdings Bhd.

Lotte share price continued to ease lower, falling one sen to RM6.40, yesterday as Maybank Investment Bank Bhd bought 1.796 million shares yesterday in its role as price stabilising manager, an exchange filing yesterday noted.

The warrant of the shares of the country’s largest public offering in five years will have a tenure of seven months, Kenanga noted in its release yesterday.

Meanwhile, fellow new listing Advancecon Holdings Bhd’s share price continued to climb higher, closing at 93.5 sen, up four sen for the day, and well above its offer price of 63 sen.

The earthworks and civil engineering services specialist, which was listed on the Main Market of Bursa Malaysia on July 10, raised RM56.7 million from the initial public offering (IPO).

The IPO will be used to support its capital expenditure and working capital requirements for future growth, among others. — TMR