CapitaLand issue active

PROPERTY developers are likely to be in play today, with the Urban Redevelopment Authority releasing the private home sales figures for last month. These are likely to mark a continued uptrend.

CapitaLand was among the property counters that were active last week.

On Friday, it closed unchanged at $3.83 with a volume of 18.5 million shares, although volume had shrunk compared with the 41 million seen on Monday and Tuesday earlier in the week.

Compared with the Monday close, CapitaLand rose about 3.2 per cent over the week.

Since its March lows, it has more than doubled, rising about 113 per cent. For the year to date, the property counter is up about 49 per cent.

However, with the property counters having run up so much recently, the slightly weaker trading activity may suggest that the market is taking a breather.

Macquarie Bank has issued a call warrant on the property counter. With a strike price of $3.80, its conversion ratio is one share for every two warrants. The warrant expires in November.

It was an actively traded warrant on Friday, registering 7.7 million units done. The warrant closed down 1.5 cents, at 35 cents.

Macquarie has another call warrant issued on CapitaLand which has seen less activity.

It lost 2.5 cents to close at 42.5 cents on Friday. Volume traded was lower, at only 1.8 million units.

There is less time to play with this warrant as it expires on Oct 2. That exercise price is $3.283, and the conversion ratio is one share for two warrants as well.

LEE SU SHYAN