New listing: CHMOBIL-C6, CHMOLY-C1, GOOGLE-C1

CHINA MOBILE (0941)
CHMOBIL-C6 @ RM0.14; underlying share @ HKD128.90; premium 45.51%

CHINA MOLYBDENUM (3993)
China Molybdenum Co. Ltd (CMOC) is a leading producer of molybdenum with world-class integrated mining and processing facilities.
Molybdenum, in pure metal form, is silvery white and very hard. Its ability to withstand extreme temperatures make it useful in applications that involve intense heat including aircraft parts, electrical contacts, industrial motors and filaments. Owing to its high corrosion resistance
and weld ability, molybdenum is also used as an alloying agent in stainless steels, tool steels, cast irons and super alloys.
CMOC's primary business operations involve molybdenum mining flotation roasting and smelting and downstream processing. Besides that, the group is also a growing producer of tungsten products.
CHMOLY-C1 @ RM0.10; underlying share @ HKD16.56; premium 48.86%

GOOGLE (GOOG)
GOOGLE-C1 @ RM0.11; underlying share is currently trading around USD655.00; premium 18.90%

With the current high level of premium for the c.warrants above, I doubt the prices would move any much higher. Nevertheless, its cheap pricing might attract traders/investors to buy these warrants. Anyway even ZIJIN-C1 is currently having a 65% premium.

As for the Google cw, some may think its conversion ratio of 3000 to 1 may be a little too much to take. Now, let's take a closer look. Theoretically, a one cent gain on GOOGLE-C1 is reflected by a 10 dollar gain in the underlying share price; and that's only a 1.5% increase in price which would not be that hard to be accomplished by a 650 US dollar stock. In addition, investors are only paying a mere RM0.11 to grab hold on one of US's best technology company which may cost up to RM2171.00 (UDS650) for the underlying share. As you can see, its not that bad after all.
To wrap things upa little, all the 3 CWs could be trading in a range close to their issue prices since the US market is currently on the rise (up >150 points). It would be best to take profit (hopefully there is some), since the market condition is still uncertain.