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股本

股本为资本增长带来巨大的潜力,并且是一种长期风险的投资。股本的所有权往往会赋予投资者以股息的形式获得公司一部分利润的权利。

结构性认股权证

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结构性认股权证

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Structured Warrants
721 KB (PDF)

结构性认股权证是由第三者,例如有资格的经纪或金融机构所发行的专利资产。它给持有者非义务的权利在未来得以固定的价格买入或卖出标的资产。基本上,当您投资于结构性认股权证,您是预定买入或卖出预先决定标的资产数目。

结构性认股权证是可以发于股票,交易所买卖基金,指数或一籃子股票。

结构性认股权证种类

认购权证

持有人可在约定期間按约定价格买入标的股票。

认股权证

持有人可在约定期間按约定价格卖出标的股票。

牛熊证 (CBBC)

牛熊证能追踪相關资产的表現,投资者不須支付购入实际资产的全数金额。牛证和熊证是按固定的期限个别发行的。投资者可以选择牛或熊的立场购入相关的资产,并可在届满前,如果资产趋向相反和不理想,可以提早终止合约。

  • View comparison of different types of Structured Warrants

    Comparison of different types of Structured Warrants

    comparison of different types of Structured Warrants
     Call WarrantsPut WarrantsCallable Bull/Bear Certificates (CBBC)
    Issuer Eligible brokers or financial institutions
    Underlying Instrument 1 underlying instrument (share, ETF or index) 1 underlying instrument (share, ETF or index) 1 underlying instrument (share, ETF or index)
    Dilution of underlying shares No new shares issued
    Expiry Period 6 months to 5 years 6 months to 5 years 3 months to 5 years
    Expiration date Fixed Fixed Fixed – also possible for early termination when the price/level of the underlying instrument reaches the ‘Call Price’.
    Settlement price/level at expiry Shares/ETF:-
    Closing price 1 market day before expiry; OR 5-days volume weighted average before expiry; OR 5-day average closing prices before expiry

    Index:- Index closing or average index levels or settlement price of index futures expiring in same month

    At expiry:-
    Shares/ETF:- Closing price 1 market day before expiry; OR 5-days volume weighted average before expiry; OR 5-day average closing prices before expiry
    Index:- Index closing or average index levels or settlement price of index futures expiring in same month
    Upon MCE:-
    Shares/ETF:- Lowest/highest price of the underlying in the next trading session (Main Trading Phase)
    Index:- Index level expiring in the same month
    Settlement method Delivery of underlying shares or cash Cash only
  • How to identify the type of Structured Warrants?

    Identify the type of Structured Warrants

    Stock Code

    You can differentiate the structured warrants with reference to the 5th character of the stock code.

    The format of the stock code is as follows:-

    • 1st 4 characters - stock code of the underlying share/ETF
    • 5th characters - type of structured warrants
    • 6th characters - sequence/number of listing

    The code representing the types of structured warrant are as follows:-

    Type of Structured Warrants
    CodeType of Structured Warrants
    C Call Warrant
    H Put Warrant
    J CBBC – Callable Bull Certificate (Call)
    K CBBC – Callable Bear Certificate (Put)

    Examples:-

    • Bursa Call Warrant would have the stock code "1818 CA" and stock short name "Bursa- CA",
    • Bursa Put Warrant would have the stock code as "1818 HA" and stock short name "Bursa- HA"
    • Bursa Callable Bull Certificate (CBBC Bull) would carry the stock code "1818 JA" and stock short name "Bursa- JA".
    • Bursa Callable Bear Certificate (CBBC Bear) would carry the stock code "1818 KA" and stock short name "Bursa- KA"

给发行者的资料

  • 请点击主板上市要求第五章 以了解结构性认股权证的规则
  • 请看主板上市要求实践说明第27 以了解结构性认股权证的上市手续

发行者网站

欲知更多结构性认股权证的资料,在此建议您游览以下马来西亚的发行者:-