Top mover alert - Ping An Insurance dives 6%, Yangzijiang and Sunny Optical up 7%
Ping An Insurance shares listed on the Hong Kong Exchange tumbled as much as 6.2% to HKD 33.85 as of 235PM - its biggest drop in over a month. The drop has led to Macquarie's Ping An put warrant JEGW to increase 14% from SGD 0.018 to SGD 0.024
The Chinese insurer announced this morning that they priced an offering of $3.5 billion in convertible bonds, joining a wave of issuance of the equity-linked instruments in Asia over the past few months. (Bloomberg)
The bonds, due in 2029, with a coupon of 0.875%, have an initial conversion price is HK$43.71 per H share, representing a premium of about 21% over yesterday's closing price
Ping An intends to use proceeds from the offering to further develop the group’s core business and strengthen its capital position to support strategic initiatives in the health-care and elderly-care sectors, and for general corporate purposes
Meanwhile, Sunny Optical shares are up 7.6% to HKD 52.35 as of 250PM. The shares have rallied 21.2% in the past two weeks, and is up 6.9% since we last ran an article titled "Sunny Optical – impending camera upgrades and developments for AI a positive driver for share price?" (https://warrants.com.sg/marketnews/highlight
/todayhighlight/7456) on 26 June 2024.
Macquarie's trending Sunny call warrant 9T8W is up 21.6% from SGD 0.037 to SGD 0.045 from its first day of listing on 26 June 2024 to today as of 3PM.
In Singapore, Yangzijiang shares are the standout performer, rebounding 7% as of 311PM to SGD 2.46, taking this week's gains to 8.7%. Trending Yangzijiang call warrant X1HW has moved 31.3% higher this week from SGD 0.016 to SGD 0.021
Investors keen to see how the above-mentioned warrants move alongside their respective shares can click on the below links:
Ping An put warrant JEGW: https://warrants.com.sg/tools/livematrix/JEGW
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Macquarie Warrants Singapore is an issuer and market-maker in Macquarie warrants listed on the SGX.
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