Robert Lin's comment on SUNWAY. All Comments
Robert Lin
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Sunway icps issue price Rm1,四年后 convert price Rm1 ，这样icps 成本一股不是变rm2？很像很不值得le，除非4年后股价超过RM2。
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4 years · translate ·
Susan Lee
No additional cash payment is required from ICPS holders for such conversion of the ICPS. 如果没误解，RM1 conversion price 是指preference share convert 时的价格而已，而不是需要额外付钱。
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Susan Lee
补充下，RM1 conversion price 应该是最高价。。如果到时候母股的5days VWAP 20% discount price 低过RM1, 就会以低价的做准。换句话说，RM1是最高价。看起来preference share 是不能享有capital gain。可是要承受capital loss的风险。。希望没解读错误啦。。。
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Robert Lin
这样是现在先还RM1 还是4 年后才还？
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Susan Lee
当然是现在啊。。如果你要subscribe, 就要以rm1 来认购。。dividend 每年给你5.25%, 四年后再以最多rm1 转去母股。
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Robert Lin
4年后icps就会convert 去ordinary share 的价钱对吗？如果4年后股价1。80 就会变成这个一股这价格？
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Susan Lee
Based on my understanding, the answer is no. 无论四年后ordinary share 价格多高， 你的ICPS也最多值rm1 而已. 我建议你去阅读昨天announce 的ICPS circular - Item 2.3 (ii) Conversion Price. 哪儿有example看，这样会更加明白。
Like · 4 years · translate
Robert Lin
我有看了昨晚，怕理解错误。那散户有人会选择subscribe 吗？因为4年后变回Rm1 很像没什么吸引，只是稳拿5.25 % dividend 罢了
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Susan Lee
是咯。。好过放fd啦。。。
可是如果不subscribe, eps会被diluted。。我也在考虑。。
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loh loh
eps diluted也是要4年后的事对吗? 请问warrant又怎样算? 会送吗?
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Susan Lee
是的，4年后的事。希望capex的回报能胜过dilution。Warrant 方面我不清楚，我看到一堆的formula @_@ 然后就跳过了。。
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loh loh
@wong convert to ordinary shares 要加钱? warrant呢?
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Seu Evum
convert price的价钱还没出
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Susan Lee
@_@ 越看越蒙了。。 有高手可以出来讲解下吗？
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Leong Suk Wah
我看不懂icps是什麼…
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huawei ayumi
问自己的股票经纪人，他不会就炒他鱿鱼，因为他?份拿佣金的。哈哈。
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wai poong
那请问issue price和conversion price的差别在哪里？如果第四年ICPS转母股免费用那conversion price是给什么的？
1 Like · 4 years · translate
HX Lee
conversion price is the price where the price of mother shares reaches a profitable price for the preferential shareholders to convert to mother shares. its not something to pay but just an indication for us to know when will it be worthy to convert. thats what i understand. can someone confirms this?
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1 Like · 4 years · translate
Susan Lee
I did some web search about this conversion price by refer to other company ICPS cases. It seems Robert Lin statement is correct.
1 Like · 4 years · translate
Lim Yee Chang
No additional cash is required, as the conversion price is capped at max RM 1.00 which is same as the issue price.. If issue price is more than conversion price, will increase the number of convertible share unit... However odd lot unit will be forfeited.. Based on my understanding after reading the statement
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1 Like · 4 years · translate