$17m of Xiaomi warrants traded at launch

Call warrant MPAW at HK$20 was the most traded for the week.

The three new call warrants for the ordinary Class B shares of Xiaomi Corporation issued by Macquarie Bank started trading on the Singapore Exchange (SGX) on 9 July 2018, in tandem with Xiaomi’s initial public offering (IPO) in Hong Kong.

The call warrants traded a total of $17m its first week of launch, SGX Research said.

According to an announcement, the most traded call warrant is MPAW with a strike price of HK$20 had a total traded value of $12m and was up 96% for the week.

Meanwhile, Macquarie announced via SGXNet on 13 July the listing of a put warrant on Xiaomi. This Put Warrant will have a strike price of HK$17 and is expected to commence trading on SGX on 19 July. 

Xiaomi's US$4.7b IPO was priced at the lower end of the HK$17-22 range and the retail portion of the offering was 8.5 times oversubscribed. Cornerstone investors include Qualcomm, SF Express, China Mobile, CICFH Entertainment, and China Merchants Group.