THE recent approval of AMMB Holdings Bhd
’s bonus and rights issues has led some analysts and investors to look afresh at the company’s warrants, particularly its warrant-B (AMMB-WB) expiring in 2008, which they deem as particularly attractive at current valuations.
Although it had risen 8 sen to RM1.87 yesterday from RM1.79 on Oct 13, when approval for the 1-for-2 bonus and 1-for-5 rights issue was obtained from shareholders, analysts believe that the warrant was still trading at a substantial discount to its fair value.
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