CWs for HK stocks as at September 26, 2007

Since my last update, we have another 4 new CWs listed today, i.e. ANGANG-C1, CCCC-C4, CHEUNGK-C1 & CHLIFE-C3 (which are highlighted in blue). These are all non-collateralized American-style cash-settled CW issued by OSK.

For the purpose of preparing this table, I have used the IPO price to value these 4 new CWs. As at 10.00 a.m. this morning, they are up between 6 to 10 sen. That's a whopping 70-90% gain. The initial subscribers must be laughing all the way to the banks. I have highlighted in green those CWs that are currently trading at a premium of less than 4%.