140613 Warrants and subscription shares

Following on from the sheet we published on Zeros the other day, here is a similar sheet covering Warrants and subscription share issues in the investment company sector with some basic valuation  information. As with the ZDPs. we’ll aim to keep this updated once a month – but this data is as at today, 13 June 2014.

The data is fairly straightforward. We show the relationship between the current price of the warrant or subscription share, the price of the ordinary share it is converting into and the exercise price of the warrant or subscription share. We also show you the yield on the ordinary (as long as you are holding the warrants or subscription shares, you are missing out on dividends declared on the ordinary shares. It is important to factor that into your estimation of what the warrant or subscription share is worth to you).