KUALA LUMPUR: Maybank Investment Bank Bhd (Maybank IB) has issued 16 European-style cash-settled call warrants over ordinary shares of Bumi Armada Bhd
, Dayang Enterprise Holdings Bhd, Dialog Group Bhd, Petronas Chemicals Group Bhd, SapuraKencana Petroleum Bhd and UMW Oil and Gas Corporation Bhd.
The warrants will be listed on Friday with an issue size of 100 million each, the investment bank said in a statement on Thursday.
It said the call warrant issues target sophisticated investors looking to profit from the volatility of the oil and gas sector following the US Federal Reserve's decision to hold on interest rate hike, contributing to the market uncertainty which impacted the global currency market.
"This is a contributing factor that could drive up the volatility of share prices in the oil and gas sector," it said.
Furthermore, it said, a proposal by Venezuela to reduce oil production and boost oil prices in a recent Organisation of Petroleum Exporting Countries (Opec) meeting also did not go through, and industry players would be looking to the next Opecmeeting, expected on Dec 4, for some guidance. - Bernama
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