Maybank recommend Hold with TP @ 4.80

RENOUNCEABLE RIGHTS ISSUE OF 426,715,958 NEW ORDINARY SHARES OF RM1.00 EACH IN BHB (“BHB SHARES”) (“RIGHTS SHARES”) TOGETHER WITH 426,715,958 FREE DETACHABLE WARRANTS (“WARRANTS”) AT AN ISSUE PRICE OF RM4.25 PER RIGHTS SHARE ON THE BASIS OF TWO (2) RIGHTS SHARES TOGETHER WITH TWO (2) WARRANTS FOR EVERY FIVE (5) EXISTING BHB SHARES HELD ON AN ENTITLEMENT DATE TO BE DETERMINED LATER ("RIGHTS ISSUE WITH WARRANTS")

On behalf of the Board of Directors of BHB, Bank Islam wishes to announce that BHB had on 25 October 2013 executed a Deed Poll constituting the Warrants pursuant to the Rights Issue with Warrants.

This announcement is dated 25 October 2013.

a RM2 ringgit share 2 years back and now at near RM5. Good return, beating PBank.

5 shares get 2 OR and sub it get 2 Warrants.

Seems like a good deal.

BIMB-WB? ex 4.72
BIMB-OR ex 4.25

Can someone help to compute theoretical mother share upon Rights listing?

If u hold 5,000 shares now, u will get 2,000 shares + 2,000 warrants under RI

BUY 1,000 get 200 BI and get 200 W if you sub to BI

Not a bad arrangement as this BI is to buy over the balance shares hold by Dubai group

If u buy 1,000 shares now, u will b entitle to subscribe 400 shares + 400 warrants

bought for 1000 OR & to sub it

Bimb-or will start trading on 13/11/2013

yes sir. bought mother for OR that is what i'm trying to say.

will buy through open market for more RIGHTS for warrants. BUY before FRIDAY for mum for OR.

How much is the price for OR?

From high of yesterday;s closing at 495 to 474, that should be in the region of 0.21cts. Add in the conversion price, making it near the low of today at 453

4.35+0.21 = 4.56. So theoretically if one buy the OR then subscribe it, still can sell at open market price in 2-3 weeks shall regain in good profit +10%

Bimb-or will start trading on 13/11/2013
Reference price will b determine based on mother closing price on 12/11/2013

RENOUNCEABLE RIGHTS ISSUE OF 426,715,958 NEW ORDINARY SHARES OF RM1.00 EACH IN BHB (“BHB SHARES”) (“RIGHTS SHARES”) TOGETHER WITH 426,715,958 FREE DETACHABLE WARRANTS (“WARRANTS”) AT AN ISSUE PRICE OF RM4.25 PER RIGHTS SHARE ON THE BASIS OF TWO (2) RIGHTS SHARES TOGETHER WITH TWO (2) WARRANTS FOR EVERY FIVE (5) EXISTING BHB SHARES HELD AS AT 5.00 P.M. ON 12 NOVEMBER 2013 ("RIGHTS ISSUE WITH WARRANTS")

http://www.bursamalaysia.com/market/listed...cements/1456321

guys,
please drop some advice.
i have holding of 3lot mother share (avg price 4.3), getting 1.2lot OR.
does it worth to subscribe?

if subscribe, i need to top up 1.2x4.25 = 5.1K to get 1.2lot mother share.
then my avg price would be (4.3*3 + 5.1)/4.2 = 4.28

so seems like it did not have much effect if subscribe, rite?
instead, should i sell the OR?

please correct me if any above is wrong, thx thx..

You're forgetting about the free warrants attached to the rights.
I sold mine before x date as I just got 1000 only.

oh ya, the free warrant..
is the trading price for warrant to be calculated / estimated?

From the BIMB Abridged Prosectus which you can download from Bursa, based on the trinomial pricing model, the theoretical value of the warrants is RM1.93. But then again this is their calculation, but don't think it will so far off from RM1.93

Bimb-or at 0.88/0.89 now
Implied value for warrant is around 0.51

Quarterly rpt on consolidated results for the financial period ended 30/9/2013
http://www.bursamalaysia.com/market/listed...cements/1473933

NEWS RELEASE - BIMB HOLDINGS BERHAD'S PBZT FOR 3Q2013 BREACH HALF A BILLION MARK
http://www.bursamalaysia.com/market/listed...cements/1473937

On d way to complete the acquisition of 49% in Bank Islam via RI
http://www.bursamalaysia.com/market/listed...cements/1482117