Maybank Investment Bank head of investment management Azzahir Azhar
KUALA LUMPUR: Maybank Investment Bank (Maybank IB) has expanded its market coverage with the issuance of structured warrants over stocks listed on the New York Stock Exchange (NYSE), making it Malaysia’s only issuer of ringgit-based warrants over NYSE-listed companies.
The structured warrants comprised six new calls and put warrants over Bank of America, Citigroup and Wells Fargo.
Maybank IB’s head of investment management, Azzahir Azhar said structured warrants are becoming more popular and the addition of United States (US)-listed stocks to Maybank’s offerings would generate strong interest from investors in Malaysia.
"Against the backdrop of inflation and growing recession fears, coupled with the recent banking turmoil, there is an opportunity for further movements in the share prices of the three US banks in our maiden launch today,” he said in a statement.
Azzahir added that these warrants, which are tradeable on Bursa Malaysia starting today, allow investors to capitalise on their views on three of the top four largest banks in the US (based on total assets).
According to Maybank IB, the warrants are uniquely designed with a longer tenure to provide investors with more time to potentially profit from movements in the underlying share.
Structured warrants over foreign-listed stocks allow investors to gain exposure to foreign markets with a much lower capital outlay, without the need for a foreign trading account. - Bernama
