warrants, which have been rising since last Friday, clo- sed yesterday up 12 sen at RM1.62 on volume of 975 lots, just 2 days before they are officially removed from the KLSE. A fund manager attributed the higher-than-average trading to interest from investors with a long-term view on IOI whose share price has fallen substantially from RM6 at end-February.
The exercise price for the warrants is RM3.35 while the mother share closed yesterday at RM5.
The share price started tumbling right from the opening bell as investors reacted negatively to the move to temporarily bar tourists from China and Hong Kong and the imposition of stricter requirements on visitors from other countries.
They felt these developments could hit Genting's earnings.
Dealers and fund managers viewed the steep fall in the share price as good buying opportunity.
A fund manager attributed the higher-than-average trading to interest from investors with a long-term view on IOI whose share price has fallen substantially from RM6 at end-February.
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