When compared to the existing Maybank-CA & CB, the new Maybank-CC is slightly more expensive as it carries a premium of 1% while the existing CWs are trading at slight discount. In fact, the existing CWs of banks are priced fairly attractively when compared to their underlying shares, with the exception of MPlant. The main reason for this attractive low premium is that the underlying share prices have recently made very significant gain and it appears that the CWs prices are struggling to keep pace. Notwithstanding this observation, I expect the 2 new CWs to make some gain as the market would likely to push all the CWs higher. As usual, the new CWs' opening prices will be much higher than expected & I would advise you not to chase these prices any higher than 20% above their IPO/listing prices.
Table: MBB-CC & PBB-CA compared to other existing CWs of banks.
Note: Warrant's price for the new CWs is the CWs' Issue Price
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