รอบด้านตลาดหุ้น 24 มกราคม 2557 - Bualuangresearch2.bualuang.co.th/upload/bls140124.pdf · 2014. 1. 24. · รอบด้านตลาดหุ้น

See disclaimer at the end of report

รอบดานตลาดหน

24 มกราคม 2557

ยอ สลบรบาวด

วนนคาดดชนฯ ยอสลบรบาวด แนวรบ 1,297 จด แนวตาน 1,315 จด

ระยะสปดาห เราคงค า แนะน าเปลยนตวเลน (Switching) เขาหน Laggard, หนรายไดองตางประเทศ และหนปนผลสง อนงสดสปดาหน มแนวโนมยอลงอยางทคาด และเรายงคงคาดแนวรบยอยบรเวณ 1,280 จด และแนวรบส าคญของรอบนไวท บรเวณ 1250 +/-

หนแนะน า BJCHI คาดงานใหมนอกเหนอจากโครงการผลตเชอเพลงชนดเหลว APLNG ของออสเตรเลย จะเขาเพมปน เพราะการฟ นต ว เศรษฐกจโลกหนนการลงทนด านอตสาหกรรมพลงงานตางประเทศ มองหนนใหรายไดโตมากกวาตลาดคาด (มโอกาสปรบเพมก าไร), คาดเงนปนผลทงป 2013 อยระหวาง 2-2.4 บ. ผลตอบแทนราว 5.6-6.7%, BANPU ราคาถานหนชวงกอนตรษจนปรบขนเฉลย 1.37% (พบปรบขน 7 จาก 9 ครง ระหวางป 2006-13 สงสด 8% และต าสด -1.8%), คลายวตก Overhang จากการขายหนซอคน เพราะตงแต 17 มค.เปนตนมาไมมรายงานการขายหน สะทอนบรษทฯตดหนออกตามทประกาศ สงผล EPS เพมขน 5%

ปจจยทมผลตอตลาดฯ

(*) การเมอง: เมอวาน ศาล รธน.แถลง รบ ค ารอง กกต.ขอเลอนเลอกตง โดยจะพจารณาวนน (ลดความเสยงในการเผชญหนาชวงเลอกตงเรวๆน หากเลอนเลอกตง) / ศรส.ออกประกาศฉบบแรกวานน สงยตการชมนม / กปปส.ประกาศขดขวางการเลอกตง

(+) กนง.คงดอกเบย 2.25% (เสยง 4 ตอ 3) คาด GDP14Fโต 3% ต ากวาคาดการเดมท 4% สวนป 13 คาดโตต ากวา 3% / สงผลใหกลมแบงกรบาวด จากแรงซอคน หลง กนง.ไมลดดอกเบย (สวนตางดอกเบย NIM ไมลงอยางทวตก)

(+) จนสงสญญาณกลบมากระตนเศรษฐกจ และปจจยฤดกาล (ตรษจน) คาดหนนราคาสนคาโภคภณฑ และ คาระวางเรอจะปรบขนกอนตรษจน/ ระยะสน +PSL BANPU PTTGC SCC

(-) เมอวานตลาดหนเอเชย (ยกเวน TIP) ลดลงหลงจาก จนรายงาน HSBC PMI (มค.) ลดลงเหลอ 49.6 ต ากวาคาดท 50.4 จาก 50.5 / จดพ เกาหลใต 4Q13-1st +0.9% q-q จาก 3Q13 1.1% q-q (ตามคาด)

(+) วานน ยโรป Flash PMI ภาคการผลต (มค.) 53.9 VS คาด 53 (จาก 52.7) PMI composite 53.2 ดกวาคาดท 52.4 (จาก 52.1) / (0) ยอดรบสวสดการวางงานสหรฐ 3.26 แสนราย เพม 1,000 รายจากสปดาหกอน

สรปภาวะตลาด 23 มกราคม 2557

ดชนตลาดหลกทรพยไทย

เปลยนแปลง % การ

เปลยนแปลง 1วน

% การเปลยนแปลง YTD

1308.34 17.85 1.38% 25.51%

มลคาการซอขาย (ลานบาท) 36,853.76

ยอดการซอขาย (ลานบาท)

ซอ ขาย สทธ

นกลงทนสถาบน 3427.87 2,668.1 759.8

0.09 7%

Proprietary Trading 4541.47 4,371.8 169.7

0.12 12%

นกลงทนตางประเทศ

13035.11 11,176.1 1,859.0

0.35 30%

ลกคาทวไป 15849.31 18,637.8 -2,788.5

0.43 51%

5 อนดบหลกทรพยทมยอดซอขายสงสด

หลกทรพย ราคาปด เปลยนแปลง

(บาท) ยอดซอขาย (ลานบาท)

TRUE 7.55 -0.35 2,666

KBANK 175.00 5.00 2,617

AOT 167.50 7.50 2,323

BBL 178.50 3.50 2,319

SCB 156.50 6.00 2,204

การเคลอนไหวของดชนรายกลม

กลม ปด %เปลยนแปลง

Bank 487.08 2.36

Energy 18883.82 1.87

Electronics 1165.61 1.48

SET 1308.34 1.38

Property 231.76 1.20

Food 10600.00 0.94

Media 70.46 0.87

Petrochem 948.40 0.83

Commerce 25753.40 0.83

ดชนตางประเทศ

ปด

% การเปลยนแปลง 1วน

% การเปลยนแปลง YTD

DJIA 16,197.35 -1.07 38.79

NASDAQ 4,218.88 -0.57 56.75

FTSE 6,773.28 -0.78 12.63

NIKKEI 15,695.89 -0.79 50.95

HSKI 22,733.90 -1.51 -3.00

Dubai ($bbl) 104.92 0.77 14.69

THB/USD 32.88 0.09 9.31

MLR (BBL)% 7.00

BOT 1DRP% 2.50

CPI (Dec)% 1.67

รอบดานตลาดหน - 2

(+) วนน ประธาน ECB แถลงผลการแกปญหาหนฯยโรป ทการประชม World economic forum / ผลประชม World economic forum คาดมสรปมมมองเชงบวกตอการฟนตวเศรษฐกจโลก

(-) วตก กม.เพดานหน สหรฐฯ ทจะสนสด 7 กพ. น หากยดไมทนอาจสงผลลบตอดลบญชฯ

(+/-) หนมขาว: +PTTEP รอผลซอ HESS ในไทย 1Q14 หลงซอ HESS ในอนโดนเซยเปนทเรยบรอย, -LH ลดเปายอดขายปนเหลอโตแค 6%, -MINT CENTEL ERW THAI สภาทองเทยวยนนายกฯ ยกเลก พรก.ฉกเฉน ท าทวรยกเลก

Investment theme:

กลมอาหาร-สงออก กลมทมรายไดองจากตางประเทศ CPF TUF GFPT DELTA HANA BJCHI

หนปนผลสง: AI ปนผลพเศษจากก าไรขาย IPO คาด DPS 1.3-1.6 บ., DELTA (DPS 2.7-2.9

บ.), HANA (0.94), KTB (0.82), TISCO (2.4), TTW (0.34) เปนปนผลงวดป 13 หกระหวางกาล

วกจ ถรวรรณรตน Tel. (662) 618-1336

สรปผลตอบแทนหลกทรพยทแนะน า

ชอหน วนทเรมแนะน า

ราคาเปด ณ.วนทเรมแนะน า

ราคาสงสดนบจากวนทแนะน า

ราคาปดลาสด

(เมอวาน)

%เปลยนแปลง

ลาสด ค าแนะน า

AI 6/3/2013 12 19.7 13.8 15.00% สะสม/ ซอเพม

BTS 17/6/2013 7.9 9.45 8.35 14.43% ถอ รวมปนผล+BTS-W

dilute 0.30 บ.

BJCHI 28/11/2013 39 41.75 35.5 -8.97% ถอ

CPF 3/12/2013 28.25 32 30 6.19% ถอ

DELTA 20/12/2013 50 54.5 52 4.00% ถอ

CFRESH 20/12/2013 7.65 8.4 7.6 -0.65% ถอ

KBANK 20/1/2014 166 165 175 -5.14% ตดขาดทน (Cover short)

BBL 20/1/2014 175.5 175 178.5 -1.68% ตดขาดทน (Cover short)

SVI 22/1/2014 4.16 4.34 4.26 2.40% ถอ

PSL 22/1/2014 20.4 21.2 21.1 3.43% ถอ

BANPU 23/1/2014 27.25 28.25 28.25 3.67% ถอ

Deletion: 18 ธค. PTT -9.4% PSL -1.41% GFPT +5.83% 23 ธค. INTUCH -6.54% VGI -18.56% 24 ธค. KBANK -2.37%

25 ธค. TRUE -10.11% 27 ธค. GLOW -1.4% 3 มค. CPALL +0.63% SVI +4.25% SAMART -13.5% PTTGC -7.14% PTTEP -8.93% IRCP 0% 6 มค. Cover short AOT +16.84% 7 มค. TUF +0.77% 9 มค. CK -4.61% 20 มค. KTB -15.08% SCC +3.08% AIE -8.95% 21 มค. PYLON +0.93% PTTGC -0.68% DTAC +2.04%

Source: ASPEN


ปจจยทมผลกระทบตอตลาด

ทองเทยวยน'ป'เลกพรก.ฉกเฉน สภาทองเทยวเตรยมยนหนงสอจรฐบาลเลกใชพ.ร.ก.ฉกเฉน นางปยะมาน เตชะไพบลย ประธานสภาอตสาหกรรมทองเทยวแหงประเทศไทย (สทท.) เปดเผยวาสทท.เตรยมยนหนงสอถง น.ส.ยงลกษณ ชนวตร นายกรฐมนตรพจารณายกเลก พ.ร.ก.ฉกเฉน ทนทเพราะกระทบทางจตวทยา ท าใหนกทองเทยวตางชาตยกเลกการเดนทางและไมกลาวางแผนลวงหนามาไทยชวง 6 เดอนแรกปน ทวรคนจนยกเลกทวรไทย 70% หนพ.ร.ก.ฉกเฉน (หนงสอพมพโพสตทเดย) กฤษฎกาโยนรฐกจ าน าขาว ท าหนงสอดวนแจงเปนอ านาจครม.แตตองไมขดรฐธรรมนญม.181(3) กฤษฎกาแจงคลงกเงนจ าน าขาว 1.3 แสนลานบาท ท าไดแตตองไมขด รธน. ส านกงานคณะกรรมการกฤษฎกา สงหนงสอดวนทสดท นร.0904/7 ลงวนท 6 ม.ค. 2557 ใหความเหนกรณกระทรวงการคลงเสนอเรองการปรบปรงแผนบรหารหนสาธารณะ ปงบประมาณ 2557 ครงท 1 ในการประชมคณะรฐมนตร (ครม.) วนท 21 ม.ค.ทผานมา โดยส านกงานฯ ในกรณทกระทรวงการคลงเสนอ ครม. อนมตการค าประกนเงนกใหรฐวสาหกจตามแผนฯและการอนมตใหกระทรวงการคลงกเงนภายใตแผนบรหารหนฯ นน ส านกงานฯเหนวา หาก ครม. จะอนมตใหกระทรวงการคลงมอ านาจกเงนจะตองไมขดตอขอหามตามรฐธรรมนญ มาตรา 181 (3) (หนงสอพมพโพสตทเดย) ฮอนดาลดเปารบตลาดซมลก ฮอนดา ชพษเศรษฐกจ-การเมองทบยอดขายรถหดเหลอ 1.13 ลานคน พรอมลดเปาขายเหลอ 1.8 แสนคนตามตลาด นายพทกษ พฤทธสารกร รองประธานกรรมการบรหารอาวโส บรษท ฮอนดา ออโตโมบล (ประเทศไทย) เปดเผยวา จากสถานการณทางการเมองและสภาพเศรษฐกจในปจจบน สงผลใหบรษทไดปรบการคาดการณภาพรวมของยอดจ าหนายรถยนตในป 2557 ไวทจ านวน 1.13 ลานคน ลดลงจากป 2556 ทมยอดจ าหนาย 1.32 ลานคน (หนงสอพมพโพสตทเดย) สงออกไกเฮ!ญปนยกไทยไร'หวดนก'ในรอบ 10 ป นางนนทวลย ศกนตนาค อธบดกรมสงเสรมการคาระหวางประเทศ เปดเผยถงผลการประชมคณะท างานรวมกรอบความรวมมอสงทอและเครองนงหม ภายใตความตกลงหนสวนเศรษฐกจไทย-ญปน (เจเทปปา) วา ประสบความส าเรจเปนอยางด คาดวาจะท าใหการคาระหวางไทยกบญปนจะเพมขน 5% ตามเปาทตงไวในป 2557 โดยเฉพาะสนคาในกลมสงทอและเครองนงหม กบสนคาไกสด-แปรรป พรอมหารอรวมกบประธานองคการสงเสรมการคาระหวางประเทศของญปน (เจโทร) จะชวยเพมการขยายตลาดของการสงออกผลตภณฑผลผลตทางการเกษตร และผลตภณฑอาหารทะเลใหไดถง 1 เทาตว ในป 2563 (หนงสอพมพขาวสด) สภาทปรกษาชสงออกอาเซยนสดใส นายธนต โสรตน รองประธานคณะท างานเศรษฐกจมหภาค การเงน การคลง สภาทปรกษาเศรษฐกจและสงคมแหงชาต (สป.) เปดเผยวา ไดจดท ารายงานวเคราะหสภาวะเศรษฐกจประเทศคคาส าคญของไทย โดยเฉพาะตลาดกลมประเทศอาเซยน พบวาแนวโนมการสงออกของไทยในตลาดกลมนยงมสญญาณในทศทางบวกตงแตปลายไตรมาส 4/2556 ตอเนองถงป 2557 เหนไดจากสดสวนการสงออกป 2555 โตถง 24.65% เนองจากเศรษฐกจภายในประเทศไมไดรบผลกระทบจากวกฤตเศรษฐกจโลก (หนงสอพมพขาวสด)

ชยพร นอมพทกษเจรญ Tel. (662) 618-1330-1


รายงานตวเลขเศรษฐกจส าคญประจ าสปดาห

United States

Economic Releases

Date Event Period Survey Actual Prior Revised Relevance

22/1/2014 MBA Mortgage Applications 17/1/2014 -- 0.047 0.119 -- 92.3077

23/1/2014 Chicago Fed Nat Activity Index Dec 0.9 -- 0.60 -- 61.0619

23/1/2014 Initial Jobless Claims 18/1/2014 330K -- 326K -- 98.2301

23/1/2014 Continuing Claims 11/1/2014 2925K -- 3030K -- 68.7611

23/1/2014 Markit US PMI Preliminary Jan 55.00 -- 54.40 -- 8.84956

23/1/2014 House Price Index MoM Nov 0.004 -- 0.005 -- 67.2566

23/1/2014 Bloomberg Consumer Comfort 19/1/2014 -- -- -31.00 -- 63.7168

23/1/2014 Existing Home Sales Dec 4.92M -- 4.90M -- 86.7257

23/1/2014 Existing Home Sales MoM Dec 0.01 -- (0.04) -- 49.5575

23/1/2014 Leading Index Dec 0.00 -- 0.01 -- 83.1858

23/1/2014 Kansas City Fed Manf. Activity Jan 2 -- -3 -- 11.5044

Economic Events


21/1/2014 IMF Releases World Economic Outlook Update

22/1/2014 New York Governor Cuomo Speaks on 2014-15 Budget

22/1/2014 U.S. SEC Meeting on PCAOB Budget

China

Economic Releases


20/1/2014 Business Climate Index 4Q -- -- 121.5 -- 13.3333

20/1/2014 Entrepreneur Confidence Index 4Q -- -- 119.5 -- 10

20/1/2014 GDP YTD YoY 4Q 0.077 -- 0.077 -- 16.6667

20/1/2014 GDP YoY 4Q 0.076 -- 0.078 -- 93.3333

20/1/2014 GDP SA QoQ 4Q 0.02 -- 0.022 -- 3.33333

20/1/2014 Industrial Production YTD YoY Dec 0.097 -- 0.097 -- 56.6667

20/1/2014 Industrial Production YoY Dec 0.098 -- 0.1 -- 80

20/1/2014 Fixed Assets Ex Rural YTD YoY Dec 0.198 -- 0.199 -- 53.3333

20/1/2014 Retail Sales YTD YoY Dec 0.131 -- 0.13 -- 50

20/1/2014 Retail Sales YoY Dec 0.136 -- 0.137 -- 73.3333

22/1/2014 MNI January Business Indicator 0

23/1/2014 HSBC/Markit Flash Mfg PMI Jan 50.3 -- 50.5 -- 60

23/1/2014 Conference Board China December Leading Economic Index 0

23/1/2014 Bloomberg Jan. China Economic Survey 0

Economic Events

23/1/2014 Chinese Ambassador Zhang Speaks at University of Toronto

Japan

Economic Releases


20/1/2014 Industrial Production MoM Nov F -- -- 0.00 -- 97.7273

20/1/2014 Industrial Production YoY Nov F -- -- 0.05 -- 71.5909

20/1/2014 Capacity Utilization MoM Nov -- -- 0.01 -- 68.4091

20/1/2014 Machine Tool Orders YoY Dec F -- -- 0.28 -- 70.4545

20/1/2014 Convenience Store Sales YoY Dec -- -- 0.00 -- 26.1364

21/1/2014 Tokyo Condominium Sales YoY Dec -- -- 0.223 -- 47.7273

21/1/2014 Supermarket Sales YoY Dec -- -- 0.007 -- 31.8182

22/1/2014 All Industry Activity Index MoM Nov 0.003 -- -0.002 -- 85.2273

22/1/2014 Leading Index CI Nov F -- -- 110.8 -- 55.6818

22/1/2014 Coincident Index Nov F -- -- 110.5 -- 27.2727

22/1/2014 BOJ 2014 Monetary Base Target 22/1/2014 -- -- ¥270T -- 10.2273

22/1/2014 Bank of Japan Monetary Policy Statement 0

23/1/2014 Japan Buying Foreign Bonds 17/1/2014 -- -- -¥740.6B -- 36.3636

23/1/2014 Japan Buying Foreign Stocks 17/1/2014 -- -- ¥157.3B -- 23.8636

23/1/2014 Foreign Buying Japan Bonds 17/1/2014 -- -- -¥743.3B -- 44.3182

23/1/2014 Foreign Buying Japan Stocks 17/1/2014 -- -- -¥219.1B -- 43.1818

23/1/2014 Bank of Japan's Monthly Economic Report for January 0


Sources: Bloomberg

Economic Events

22/1/2014 BoJ Governor Kuroda Press Conference After Rate Decision

23/1/2014 Bank of Japan's Monthly Economic Report for January

22/1/2014 Japan-EU Strategic Partnership Agreement Negotiations

21/1/2014 Alberta Finance Minsiter Horner Meets Asian Investors

Thailand

Economic Releases


20/1/2014 Car Sales Dec -- 113,917.00 93,483.00 -- 42.3077

22/1/2014 BoT Benchmark Interest Rate 41661 2.00% 0.02 0.02 -- 96.1538

24/1/2014 Foreign Reserves 41656 -- -- $166.5B -- 80.7692

24/1/2014 Forward Contracts 41656 -- -- $23.0B -- 34.6154


รายงานวนน

หน: LH ค าแนะน า: ซอเกงก าไร ราคาเปาหมาย (บาท): 9.80

เรายงคงค าแนะน า ซอเกงก าไร ดวยราคาเปาหมาย ณ สนป 2557 ท 9.80 บาท (ลดลงจาก 11 บาท) ซงสะทอนคาดการณก าไรทลดลง

เราปรบลดประมาณการก าไรหลกลง 2% ส าหรบป 2556 และ 10% ส าหรบป 2557 เพอสะทอนแผนธรกจทเปนไปในเชงอนรกษนยมมากขน

ผบรหารยงคงเปาอตราก าไรขนตนโครงการอสงหาฯ (ทอยอาศย) ทรงตว แตเราคาดปรบลดเลกนอย YoY

คาดรายไดคาเชาจากโครงการอสงหาฯ (ทอยอาศย) จะเพมขน 14% มาอยท 2.5 พนลาน

บาท ในป 2557 หนนโดยอพารทเมนตใหม 2 แหงในสหรฐฯทซอมาเมอป 2556

นกวเคราะห: นฤมล เอกสมทร

หมายเหต: รายงานดงกลาวเปนเพยงเนอหาโดยสรป สามารถอานรายละเอยดเพมเตมไดในรายงานฉบบเตม


ปฏทนหน

Sources: SET, Bualuang research

Share buyback

Stock Buyback period No. of buyback shares (mn)

Max amt of shares to be bought back (Btm)

Buyback result

No. of shares

MALEE 28/08/2013 – 27/02/2014 14.00 8.181 280,000


Tender offer

Company Tender period No. of tender shares Offer price (Bt) Tender offeror

TCP 29/11/2013 – 06/02/2014 49,056,626 21.00 SCG Paper Public Company Limited

EIC 19/12/2013 – 27/01/2014 132,190,400 1.25 Thai Prime Company Limited & Mr. Bee Taechaubol

PICNI 07/01/2014 –10/02/2014 297,360,733 1.00 World Gas (Thailand) Company Limited


XR EPCO 5 : [email protected] Baht XW SLC 6 : 1 XD MGE 0.56 XD BTS 0.2 XR TSF 3 : [email protected] Baht

XW WAT - XD TDEX 0.324 XD UNIPF 0.1266 XW TSF -

XR WAT 1 : [email protected] Baht

XR RPC 1.6 : [email protected] Baht XD TLGF 0.163 XD CPNCG 0.1941

XD TSC 0.5

XD METCO 3 XD TTL 1.75

XR TTA 10 : [email protected] Baht

XW TTA -

XW IFEC 2 : 1

XR CHUO 1.125 : 1

XW EIC 4 : 1

XW TFD 10 : 1 XR AEC 5 : [email protected] Baht

XW AEC -

Note-XD Cash Dividend, XD (ST) Stock Dividend, PD Payment Date, XR- Right for Common

XW- Right for Warrant XM- Right for meeting

Mon

21-Jan-14

Sun Tue

26-Jan-14 28-Jan-1427-Jan-14

20-Jan-1419-Jan-14

Wed

25-Jan-1423-Jan-14

SatFriThu

1-Feb-14

24-Jan-14

9-Feb-14

8-Feb-14

10-Feb-14 15-Feb-14

6-Feb-14 7-Feb-142-Feb-14

22-Jan-14

3-Feb-14 4-Feb-14 5-Feb-14

16-Feb-14 17-Feb-14 18-Feb-14 19-Feb-14

11-Feb-14

14-Mar-14

31-Jan-1429-Jan-14

12-Feb-14 13-Feb-14 14-Feb-14

30-Jan-14

26-Feb-14

22-Feb-14

8-Mar-14

27-Feb-14

21-Mar-14

15-Mar-14

20-Feb-14 21-Feb-14

1-Mar-14

6-Mar-14

28-Feb-14

22-Mar-14

13-Mar-14

7-Mar-14

23-Feb-14

3-Mar-14

20-Mar-14

24-Feb-14 25-Feb-14

2-Mar-14

10-Mar-14

4-Mar-14

16-Mar-14

11-Mar-14 12-Mar-14

5-Mar-14

9-Mar-14

17-Mar-14 18-Mar-14

24-Mar-14

19-Mar-14

29-Mar-1428-Mar-1426-Mar-14 27-Mar-1423-Mar-14 25-Mar-14


Derivative Warrants

Stock Underlying Last Trading Date Expiration Date

Exercise Price

Exercise Ratio

AAV06C1408A AAV 28 Aug 14 4 Sep 14 4.2 5.0 : 1.0

AAV18C1406A AAV 2 Jun 14 7 Jun 14 5.2 3.2 : 1.0

AAV28C1403A AAV 3 Mar 14 8 Mar 14 6.5 3.3 : 1.0

ADVA01C1405A ADVANC 30 May 14 6 Jun 14 198 75.0 : 1.0

ADVA01P1405A ADVANC 30 May 14 6 Jun 14 280 55.0 : 1.0

ADVA06CB ADVANC 18 Jun 14 25 Jun 14 175.944 97.75171 : 1.0

ADVA06PA ADVANC 18 Jun 14 25 Jun 14 342.113 58.65103 : 1.0

ADVA08CD ADVANC 28 Mar 14 4 Apr 14 263.915 48.87324 : 1.0

ADVA13C1404A ADVANC 4 Apr 14 12 Apr 14 265 60.0 : 1.0

ADVA13C1406A ADVANC 25 Jun 14 3 Jul 14 188 30.0 : 1.0

ADVA13C1406B ADVANC 5 Jun 14 12 Jun 14 220 58.5 : 1.0

ADVA13P1404A ADVANC 4 Apr 14 12 Apr 14 250 40.0 : 1.0

ADVA16CC ADVANC 10 Mar 14 15 Mar 14 244.366 73.31378 : 1.0

ADVA23C1411A ADVANC 13 Nov 14 20 Nov 14 203 65.0 : 1.0

ADVA23CB ADVANC 27 Jun 14 5 Jul 14 288.352 117.37089 : 1.0

ADVA23P1411A ADVANC 13 Nov 14 20 Nov 14 224 40.0 : 1.0

ADVA27C1405A ADVANC 21 May 14 28 May 14 220 75.0 : 1.0

ADVA28C1403A ADVANC 3 Mar 14 8 Mar 14 255 68.0 : 1.0

ADVA28C1406A ADVANC 2 Jun 14 7 Jun 14 220 66.0 : 1.0

ADVA28C1406B ADVANC 2 Jun 14 7 Jun 14 195 33.0 : 1.0

ADVA28CG ADVANC 17 Apr 15 24 Apr 15 244.366 78.1972 : 1.0

ADVA28P1403A ADVANC 3 Mar 14 8 Mar 14 260 44.0 : 1.0

ADVA28P1406A ADVANC 2 Jun 14 7 Jun 14 220 46.0 : 1.0

AMAT01C1407A AMATA 28 Jul 14 2 Aug 14 10.6 8.0 : 1.0

AMAT01P1407A AMATA 28 Jul 14 2 Aug 14 14.4 5.0 : 1.0

AOT01C1405A AOT 30 May 14 6 Jun 14 170.589 38.98635 : 1.0

AOT01P1405A AOT 30 May 14 6 Jun 14 224.203 38.98635 : 1.0

AOT06C1411A AOT 28 Nov 14 5 Dec 14 141.345 97.46589 : 1.0

AOT08C1407A AOT 28 Jul 14 2 Aug 14 180 45.0 : 1.0

AOT13C1403A AOT 26 Mar 14 2 Apr 14 204.707 38.98635 : 1.0

AOT13C1405A AOT 16 May 14 23 May 14 150 30.0 : 1.0

AOT16C1406A AOT 23 Jun 14 28 Jun 14 165.715 34.11805 : 1.0

AOT23C1409A AOT 18 Sep 14 25 Sep 14 138 33.0 : 1.0

AOT28C1404A AOT 16 Apr 14 23 Apr 14 185.211 34.11783 : 1.0

AOT28C1405A AOT 14 May 14 21 May 14 204.707 68.23565 : 1.0

AOT28C1407A AOT 2 Jul 14 9 Jul 14 160 34.0 : 1.0

BANP01C1401A BANPU 30 Jan 14 6 Feb 14 19.68 6.88705 : 1.0

BANP01C1404A BANPU 23 Apr 14 30 Apr 14 25 16.0 : 1.0

BANP01P1401A BANPU 30 Jan 14 6 Feb 14 29.519 4.91884 : 1.0

BANP01P1404A BANPU 23 Apr 14 30 Apr 14 42 13.0 : 1.0

BANP06CE BANPU 6 Mar 14 13 Mar 14 20.17 9.60615 : 1.0

BANP08C1405A BANPU 28 May 14 4 Jun 14 33 6.5 : 1.0

BANP08P1405A BANPU 28 May 14 4 Jun 14 29 6.0 : 1.0

BANP13C1403A BANPU 12 Mar 14 19 Mar 14 33 13.0 : 1.0

BANP13C1404A BANPU 4 Apr 14 12 Apr 14 29.519 4.4287 : 1.0

BANP13C1406A BANPU 6 Jun 14 13 Jun 14 24.5 6.5 : 1.0

BANP16C1407A BANPU 25 Jul 14 1 Aug 14 31.5 15.0 : 1.0

BANP18C1405A BANPU 2 May 14 10 May 14 18.696 9.83974 : 1.0

BANP23C1411A BANPU 13 Nov 14 20 Nov 14 25 17.0 : 1.0

BANP23CA BANPU 26 Feb 14 5 Mar 14 37.267 14.40922 : 1.0

BANP28C1402A BANPU 3 Feb 14 8 Feb 14 26.567 5.70705 : 1.0

BANP28C1403A BANPU 3 Mar 14 8 Mar 14 32 16.0 : 1.0

BANP28C1407A BANPU 2 Jul 14 9 Jul 14 28 17.0 : 1.0

BANP42C1406A BANPU 23 Jun 14 28 Jun 14 25 20.0 : 1.0

BAY01C1403A BAY 28 Mar 14 4 Apr 14 34 16.0 : 1.0


Derivative Warrants


Exercise Price

Exercise Ratio

BAY01P1403A BAY 28 Mar 14 4 Apr 14 45 12.0 : 1.0

BAY06CB BAY 6 Mar 14 13 Mar 14 17.596 24.43793 : 1.0

BAY08CF BAY 8 May 14 16 May 14 29.686 11.87451 : 1.0

BAY16CB BAY 10 Mar 14 15 Mar 14 28.697 17.80944 : 1.0

BAY23CA BAY 26 Feb 14 5 Mar 14 33.97 14.66276 : 1.0

BBL06CD BBL 18 Jun 14 25 Jun 14 128.602 98.91197 : 1.0

BBL06PD BBL 18 Jun 14 25 Jun 14 257.204 59.34718 : 1.0

BBL07CA BBL 29 Jan 14 5 Feb 14 207.742 49.46237 : 1.0

BBL08CD BBL 8 May 14 16 May 14 217.634 59.35484 : 1.0

BBL13C1406A BBL 19 Jun 14 26 Jun 14 210 60.0 : 1.0

BBL13P1406A BBL 19 Jun 14 26 Jun 14 190 35.0 : 1.0

BBL18C1402A BBL 10 Feb 14 18 Feb 14 187.957 98.92473 : 1.0

BBL23CA BBL 27 Jun 14 5 Jul 14 215.656 59.34718 : 1.0

BBL28C1404A BBL 16 Apr 14 23 Apr 14 220 60.0 : 1.0

BBL42C1404A BBL 25 Apr 14 3 May 14 168.172 79.11392 : 1.0

BBL42P1404A BBL 25 Apr 14 3 May 14 237.419 49.45598 : 1.0

BCP01C1404A BCP 30 Apr 14 9 May 14 30 18.0 : 1.0

BCP01P1404A BCP 30 Apr 14 9 May 14 42 12.0 : 1.0

BCP06CA BCP 27 Mar 14 3 Apr 14 21.612 24.55796 : 1.0

BCP13CC BCP 20 Jan 14 25 Jan 14 35.365 14.73405 : 1.0

BCP23C1406A BCP 26 Jun 14 4 Jul 14 38 13.0 : 1.0

BEC01C1404A BEC 30 Apr 14 9 May 14 54 20.0 : 1.0

BEC01P1404A BEC 30 Apr 14 9 May 14 70 13.0 : 1.0

BEC23CA BEC 27 Jun 14 5 Jul 14 66.617 48.9716 : 1.0

BGH01C1401A BGH 30 Jan 14 6 Feb 14 125 35.0 : 1.0

BGH01C1406A BGH 27 Jun 14 5 Jul 14 105 35.0 : 1.0

BGH01P1401A BGH 30 Jan 14 6 Feb 14 170 30.0 : 1.0

BGH01P1406A BGH 27 Jun 14 5 Jul 14 136 25.0 : 1.0

BGH06CB BGH 30 Apr 15 9 May 15 100 50.0 : 1.0

BGH08C1405A BGH 28 May 14 4 Jun 14 145 35.0 : 1.0

BGH13CF BGH 20 Jan 14 25 Jan 14 150 30.0 : 1.0

BGH16C1409A BGH 11 Sep 14 18 Sep 14 136.5 32.0 : 1.0

BGH23CA BGH 26 Feb 14 5 Mar 14 152 35.0 : 1.0

BGH28C1403A BGH 3 Mar 14 8 Mar 14 165 33.0 : 1.0

BGH28C1407A BGH 2 Jul 14 9 Jul 14 140 33.0 : 1.0

BH01C1404A BH 30 Apr 14 9 May 14 82 20.0 : 1.0

BH07CA BH 26 Mar 14 2 Apr 14 72.393 19.83383 : 1.0

BH08CB BH 8 May 14 16 May 14 79.335 24.79228 : 1.0

BIGC01C1401A BIGC 30 Jan 14 6 Feb 14 180 70.0 : 1.0

BIGC01P1401A BIGC 30 Jan 14 6 Feb 14 230 40.0 : 1.0

BIGC16CB BIGC 10 Mar 14 15 Mar 14 200 70.0 : 1.0

BJC01C1405A BJC 30 May 14 6 Jun 14 38 20.0 : 1.0

BJC01P1405A BJC 30 May 14 6 Jun 14 57 13.0 : 1.0

BJC06C1410A BJC 31 Oct 14 7 Nov 14 29 25.0 : 1.0

BJC08CC BJC 28 Mar 14 4 Apr 14 93.279 19.63764 : 1.0

BJC13C1405A BJC 28 May 14 4 Jun 14 46 15.0 : 1.0

BJC13CE BJC 20 Jan 14 25 Jan 14 54.395 12.85678 : 1.0

BJC23C1408A BJC 28 Aug 14 4 Sep 14 41.5 17.0 : 1.0

BJC23CA BJC 26 Feb 14 5 Mar 14 86.897 34.36426 : 1.0

BJC28C1407A BJC 2 Jul 14 9 Jul 14 50 16.0 : 1.0

BJC28CD BJC 3 Feb 14 8 Feb 14 57.362 14.3405 : 1.0

BJC42C1406A BJC 23 Jun 14 28 Jun 14 42 20.0 : 1.0

BLA01C1401A BLA 30 Jan 14 6 Feb 14 55 20.0 : 1.0

BLA01P1401A BLA 30 Jan 14 6 Feb 14 70 12.0 : 1.0

BLA06CA BLA 30 Apr 15 9 May 15 44.482 24.70966 : 1.0

BLAN01C1406A BLAND 27 Jun 14 5 Jul 14 1.45 0.7 : 1.0


Derivative Warrants


Exercise Price

Exercise Ratio

BLAN01P1406A BLAND 27 Jun 14 5 Jul 14 2.1 0.5 : 1.0

BLAN06C1408A BLAND 28 Aug 14 4 Sep 14 1.15 1.0 : 1.0

BLAN08C1405A BLAND 28 May 14 4 Jun 14 1.15 1.15 : 1.0

BLAN13C1403A BLAND 10 Mar 14 15 Mar 14 1.66 0.62 : 1.0

BLAN28C1403A BLAND 3 Mar 14 8 Mar 14 1.5 0.7 : 1.0

BTS01C1403A BTS 28 Mar 14 4 Apr 14 7.03 3.90533 : 1.0

BTS01P1403A BTS 28 Mar 14 4 Apr 14 10.74 2.92903 : 1.0

BTS08CB BTS 6 Jun 14 13 Jun 14 7.633 3.57793 : 1.0

BTS13C1405A BTS 7 May 14 15 May 14 9.763 2.44081 : 1.0

BTS16C1409A BTS 11 Sep 14 18 Sep 14 9.275 3.12422 : 1.0

BTS23C1409A BTS 18 Sep 14 25 Sep 14 10.5 3.0 : 1.0

BTS28C1404A BTS 16 Apr 14 23 Apr 14 7.811 3.41716 : 1.0

BTS42C1404A BTS 25 Apr 14 3 May 14 6.834 3.90533 : 1.0

CENT01C1404A CENTEL 30 Apr 14 9 May 14 36 20.0 : 1.0

CENT01P1404A CENTEL 30 Apr 14 9 May 14 50 13.0 : 1.0

CENT23C1404A CENTEL 29 Apr 14 8 May 14 55.5 26.0 : 1.0

CENT23C1408A CENTEL 28 Aug 14 4 Sep 14 23.75 17.0 : 1.0

CENT42C1406A CENTEL 23 Jun 14 28 Jun 14 33.5 20.0 : 1.0

CK01C1402A CK 27 Feb 14 6 Mar 14 17.344 6.93722 : 1.0

CK01P1402A CK 27 Feb 14 6 Mar 14 22.299 4.9554 : 1.0

CK08C1401A CK 28 Jan 14 4 Feb 14 23.786 5.94643 : 1.0

CK08C1407A CK 28 Jul 14 2 Aug 14 17.5 6.5 : 1.0

CK13C1402A CK 17 Feb 14 22 Feb 14 27.254 8.91981 : 1.0

CK13C1404A CK 1 Apr 14 9 Apr 14 23.2 5.0 : 1.0

CK13C1406A CK 12 Jun 14 19 Jun 14 16 6.0 : 1.0

CK23C1401A CK 30 Jan 14 6 Feb 14 17.542 11.89343 : 1.0

CK23C1407A CK 30 Jul 14 6 Aug 14 13.8 7.0 : 1.0

CK27C1405A CK 21 May 14 28 May 14 18 7.5 : 1.0

CK28C1403A CK 3 Mar 14 8 Mar 14 28 17.0 : 1.0

CK28C1405A CK 14 May 14 21 May 14 23.5 6.5 : 1.0

CK28C1408A CK 1 Aug 14 8 Aug 14 17 7.0 : 1.0

CK42C1404A CK 25 Apr 14 3 May 14 15.857 7.92833 : 1.0

CPAL01C1403A CPALL 28 Mar 14 4 Apr 14 35 18.0 : 1.0

CPAL01P1403A CPALL 28 Mar 14 4 Apr 14 50 12.0 : 1.0

CPAL06CB CPALL 27 Feb 14 6 Mar 14 27.427 24.4858 : 1.0

CPAL08C1407A CPALL 28 Jul 14 2 Aug 14 44 17.0 : 1.0

CPAL08P1406A CPALL 18 Jun 14 25 Jun 14 43.5 15.0 : 1.0

CPAL13C1406A CPALL 5 Jun 14 12 Jun 14 41 18.0 : 1.0

CPAL28C1405A CPALL 2 May 14 10 May 14 38 17.0 : 1.0

CPAL28CD CPALL 17 Apr 15 24 Apr 15 40 18.0 : 1.0

CPAL42C1404A CPALL 25 Apr 14 3 May 14 30 20.0 : 1.0

CPAL42P1404A CPALL 25 Apr 14 3 May 14 45 13.0 : 1.0

CPF01C1403A CPF 28 Mar 14 4 Apr 14 23 16.0 : 1.0

CPF01P1403A CPF 28 Mar 14 4 Apr 14 33 12.0 : 1.0

CPF06CC CPF 30 Apr 15 9 May 15 20.782 24.74023 : 1.0

CPF08C1407A CPF 18 Jul 14 25 Jul 14 27.5 10.0 : 1.0

CPF08P1406A CPF 18 Jun 14 25 Jun 14 31 15.0 : 1.0

CPF11C1406A CPF 30 Jun 14 8 Jul 14 30 16.0 : 1.0

CPF13C1406A CPF 5 Jun 14 12 Jun 14 26 16.0 : 1.0

CPF13CE CPF 20 Jan 14 25 Jan 14 24.741 7.91703 : 1.0

CPF16CC CPF 10 Mar 14 15 Mar 14 27.71 17.81261 : 1.0

CPF27C1405A CPF 21 May 14 28 May 14 23 12.0 : 1.0

CPF28C1406A CPF 2 Jun 14 7 Jun 14 29 16.0 : 1.0

CPF42C1404A CPF 25 Apr 14 3 May 14 20 20.0 : 1.0

CPF42P1404A CPF 25 Apr 14 3 May 14 32 13.0 : 1.0

CPN01C1403A CPN 28 Mar 14 4 Apr 14 40 20.0 : 1.0


Derivative Warrants


Exercise Price

Exercise Ratio

CPN01P1403A CPN 28 Mar 14 4 Apr 14 56 12.0 : 1.0

CPN08CD CPN 6 Jun 14 13 Jun 14 48 20.0 : 1.0

CPN13C1403A CPN 10 Mar 14 15 Mar 14 48 15.0 : 1.0

CPN13C1406A CPN 6 Jun 14 13 Jun 14 35 17.3 : 1.0

CPN18C1406A CPN 2 Jun 14 7 Jun 14 45 20.0 : 1.0

CPN23C1409A CPN 18 Sep 14 25 Sep 14 36.25 17.0 : 1.0

CPN28C1404A CPN 16 Apr 14 23 Apr 14 44 15.0 : 1.0

CPN28C1406A CPN 2 Jun 14 7 Jun 14 50 30.0 : 1.0

DELT01C1403A DELTA 28 Mar 14 4 Apr 14 39 20.0 : 1.0

DELT07CA DELTA 26 Mar 14 2 Apr 14 33 9.0 : 1.0

DTAC01C1404A DTAC 30 Apr 14 9 May 14 97 35.0 : 1.0

DTAC01P1404A DTAC 30 Apr 14 9 May 14 130 25.0 : 1.0

DTAC06C1410A DTAC 31 Oct 14 7 Nov 14 77.077 24.70356 : 1.0

DTAC06P1410A DTAC 31 Oct 14 7 Nov 14 116.603 24.70356 : 1.0

DTAC08CF DTAC 6 Jun 14 13 Jun 14 102.641 39.1013 : 1.0

DTAC13C1404A DTAC 21 Apr 14 26 Apr 14 120 28.0 : 1.0

DTAC13P1404A DTAC 21 Apr 14 26 Apr 14 110 18.0 : 1.0

DTAC16C1406A DTAC 23 Jun 14 28 Jun 14 103.757 34.59011 : 1.0

DTAC23CA DTAC 27 Jun 14 5 Jul 14 122.68 73.36757 : 1.0

DTAC28C1403A DTAC 3 Mar 14 8 Mar 14 113.639 30.63299 : 1.0

EGCO01C1405A EGCO 30 May 14 6 Jun 14 116 35.0 : 1.0

ESSO13C1403A ESSO 31 Mar 14 5 Apr 14 8 3.0 : 1.0

ESSO18C1403A ESSO 3 Mar 14 8 Mar 14 5.5 5.0 : 1.0

ESSO28C1403A ESSO 3 Mar 14 8 Mar 14 7 3.0 : 1.0

GLOB01C1403A GLOBAL 28 Mar 14 4 Apr 14 17.5 9.0 : 1.0

GLOB01P1403A GLOBAL 28 Mar 14 4 Apr 14 21.5 5.0 : 1.0

GLOB23C1401A GLOBAL 30 Jan 14 6 Feb 14 19.3 12.0 : 1.0

GLOB23C1409A GLOBAL 18 Sep 14 25 Sep 14 14.4 7.0 : 1.0

GLOB42C1406A GLOBAL 23 Jun 14 28 Jun 14 16 9.0 : 1.0

GLOW01C1404A GLOW 30 Apr 14 9 May 14 68 20.0 : 1.0

HEMR18C1406A HEMRAJ 2 Jun 14 7 Jun 14 3.4 1.6 : 1.0

HMPR01C1403A HMPRO 28 Mar 14 4 Apr 14 10.272 5.99161 : 1.0

HMPR01P1403A HMPRO 28 Mar 14 4 Apr 14 14.551 4.27991 : 1.0

HMPR06CA HMPRO 18 Jun 14 25 Jun 14 8.56 8.55945 : 1.0

HMPR08CC HMPRO 6 Jun 14 13 Jun 14 11.984 5.34987 : 1.0

HMPR13C1406A HMPRO 19 Jun 14 26 Jun 14 11.5 5.5 : 1.0

HMPR13CF HMPRO 20 Jan 14 25 Jan 14 10.272 5.13584 : 1.0

HMPR23C1410A HMPRO 16 Oct 14 23 Oct 14 7.9 3.5 : 1.0

HMPR23CA HMPRO 27 Feb 14 6 Mar 14 12.019 7.32869 : 1.0

HMPR28C1406A HMPRO 2 Jun 14 7 Jun 14 11.5 7.0 : 1.0

HMPR42C1406A HMPRO 23 Jun 14 28 Jun 14 10 8.0 : 1.0

INTU01C1405A INTUCH 30 May 14 6 Jun 14 70 20.0 : 1.0

INTU01P1405A INTUCH 30 May 14 6 Jun 14 90 12.0 : 1.0

INTU06CB INTUCH 27 Mar 14 3 Apr 14 37.958 23.71917 : 1.0

INTU13C1404A INTUCH 21 Apr 14 26 Apr 14 87 14.0 : 1.0

INTU13C1406A INTUCH 6 Jun 14 13 Jun 14 67 15.0 : 1.0

INTU13P1404A INTUCH 21 Apr 14 26 Apr 14 80 9.0 : 1.0

INTU16C1409A INTUCH 11 Sep 14 18 Sep 14 72 18.0 : 1.0

INTU23C1406A INTUCH 26 Jun 14 4 Jul 14 79.207 29.16302 : 1.0

INTU28C1402A INTUCH 3 Feb 14 8 Feb 14 90 16.0 : 1.0

INTU28C1404A INTUCH 16 Apr 14 23 Apr 14 85 15.0 : 1.0

INTU28C1406A INTUCH 2 Jun 14 7 Jun 14 100 35.0 : 1.0

INTU28C1406B INTUCH 2 Jun 14 7 Jun 14 75 14.0 : 1.0

INTU28CD INTUCH 2 May 14 10 May 14 82.609 38.87476 : 1.0

INTU28P1406A INTUCH 2 Jun 14 7 Jun 14 75 12.0 : 1.0

IRPC01C1405A IRPC 30 May 14 6 Jun 14 3 1.5 : 1.0


Derivative Warrants


Exercise Price

Exercise Ratio

IRPC01P1405A IRPC 30 May 14 6 Jun 14 4.2 1.0 : 1.0

IRPC13C1402A IRPC 24 Feb 14 1 Mar 14 3.5 1.2 : 1.0

IRPC13C1406A IRPC 6 Jun 14 13 Jun 14 3 1.2 : 1.0

IRPC28C1404A IRPC 16 Apr 14 23 Apr 14 3.35 1.3 : 1.0

ITD01C1407A ITD 28 Jul 14 2 Aug 14 2.8 1.5 : 1.0

ITD01P1407A ITD 28 Jul 14 2 Aug 14 4.1 1.0 : 1.0

ITD06C1408A ITD 28 Aug 14 4 Sep 14 3.6 2.0 : 1.0

ITD07C1404A ITD 25 Apr 14 3 May 14 5.15 1.5 : 1.0

ITD08C1406A ITD 18 Jun 14 25 Jun 14 4.5 3.5 : 1.0

ITD13C1404A ITD 3 Apr 14 11 Apr 14 5.5 3.0 : 1.0

ITD13C1405A ITD 23 May 14 30 May 14 3.6 1.18 : 1.0

ITD28C1407A ITD 2 Jul 14 9 Jul 14 5 4.0 : 1.0

ITD42C1404A ITD 25 Apr 14 3 May 14 4 4.0 : 1.0

ITD42P1406A ITD 23 Jun 14 28 Jun 14 7 2.5 : 1.0

IVL01C1404A IVL 30 Apr 14 9 May 14 22.5 8.0 : 1.0

IVL01P1404A IVL 30 Apr 14 9 May 14 33 12.0 : 1.0

IVL06CC IVL 27 Mar 14 3 Apr 14 13.781 9.84446 : 1.0

IVL08CF IVL 28 Apr 14 3 May 14 34.453 4.9219 : 1.0

IVL11C1406A IVL 30 Jun 14 8 Jul 14 21.4 6.2 : 1.0

IVL13C1403A IVL 17 Mar 14 22 Mar 14 25 4.5 : 1.0

IVL13C1403B IVL 24 Mar 14 29 Mar 14 29 13.5 : 1.0

IVL13C1405A IVL 23 May 14 30 May 14 20 6.4 : 1.0

IVL13CH IVL 20 Jan 14 25 Jan 14 17.859 5.95309 : 1.0

IVL13P1404A IVL 1 Apr 14 9 Apr 14 19 3.0 : 1.0

IVL16C1406A IVL 23 Jun 14 28 Jun 14 18.5 7.0 : 1.0

IVL18C1403A IVL 3 Mar 14 8 Mar 14 20 10.0 : 1.0

IVL23CA IVL 27 Feb 14 6 Mar 14 23.527 14.76451 : 1.0

IVL27C1405A IVL 21 May 14 28 May 14 23 8.0 : 1.0

IVL28C1405A IVL 5 May 14 10 May 14 22 6.5 : 1.0

IVL28C1405B IVL 2 May 14 10 May 14 28 17.0 : 1.0

JAS01C1405A JAS 30 May 14 6 Jun 14 6.7 3.5 : 1.0

JAS01P1405A JAS 30 May 14 6 Jun 14 10 3.0 : 1.0

JAS06CA JAS 30 Apr 15 9 May 15 4 5.0 : 1.0

JAS08CB JAS 6 Jun 14 13 Jun 14 5.25 5.0 : 1.0

JAS13C1404A JAS 4 Apr 14 12 Apr 14 10 2.5 : 1.0

JAS13C1405A JAS 6 May 14 13 May 14 12 4.0 : 1.0

JAS13C1406A JAS 12 Jun 14 19 Jun 14 7.8 3.0 : 1.0

JAS13P1405A JAS 6 May 14 13 May 14 7.8 1.7 : 1.0

JAS16C1406A JAS 23 Jun 14 28 Jun 14 7.5 3.4 : 1.0

JAS18C1406A JAS 2 Jun 14 7 Jun 14 8 4.0 : 1.0

JAS23C1402A JAS 28 Feb 14 7 Mar 14 9.1 3.0 : 1.0

JAS27C1405A JAS 21 May 14 28 May 14 7.5 3.5 : 1.0

JAS28C1403A JAS 3 Mar 14 8 Mar 14 8 3.5 : 1.0

JAS28C1406A JAS 2 Jun 14 7 Jun 14 11.5 7.0 : 1.0

JAS28C1406B JAS 2 Jun 14 7 Jun 14 7 3.5 : 1.0

JAS28CD JAS 17 Apr 15 24 Apr 15 7.3 3.5 : 1.0

JAS42C1406A JAS 23 Jun 14 28 Jun 14 6.7 4.0 : 1.0

KBAN01C1405A KBANK 30 May 14 6 Jun 14 155 35.0 : 1.0

KBAN01P1405A KBANK 30 May 14 6 Jun 14 205 35.0 : 1.0

KBAN06CB KBANK 6 Mar 14 13 Mar 14 105.341 98.4252 : 1.0

KBAN06PB KBANK 9 May 14 16 May 14 279.202 99.7009 : 1.0

KBAN08CE KBANK 8 May 14 16 May 14 207.407 59.82906 : 1.0

KBAN08P1404A KBANK 1 Apr 14 9 Apr 14 249.288 79.77208 : 1.0

KBAN13C1404A KBANK 1 Apr 14 9 Apr 14 190 25.0 : 1.0

KBAN13CH KBANK 20 Jan 14 25 Jan 14 189.459 29.91325 : 1.0

KBAN13P1404A KBANK 1 Apr 14 9 Apr 14 160 18.0 : 1.0


Derivative Warrants


Exercise Price

Exercise Ratio

KBAN23CB KBANK 27 Jun 14 5 Jul 14 213.39 74.79432 : 1.0

KBAN27C1405A KBANK 15 May 14 22 May 14 175 35.0 : 1.0

KBAN28C1405A KBANK 2 May 14 10 May 14 215 60.0 : 1.0

KBAN28C1405B KBANK 14 May 14 21 May 14 190 33.0 : 1.0

KBAN28C1405C KBANK 2 May 14 10 May 14 160 33.0 : 1.0

KBAN28CE KBANK 23 Apr 15 30 Apr 15 189.459 69.80057 : 1.0

KBAN28P1403A KBANK 3 Mar 14 8 Mar 14 175 22.0 : 1.0

KBAN28P1406A KBANK 2 Jun 14 7 Jun 14 170 25.0 : 1.0

KBAN42C1404A KBANK 25 Apr 14 3 May 14 149.573 39.88831 : 1.0

KBAN42P1404A KBANK 25 Apr 14 3 May 14 219.373 29.91325 : 1.0

KKP01C1405A KKP 30 May 14 6 Jun 14 37 20.0 : 1.0

KKP01P1405A KKP 30 May 14 6 Jun 14 50 12.0 : 1.0

KKP08CA KKP 9 May 14 16 May 14 63.385 24.37888 : 1.0

KKP13C1403A KKP 24 Mar 14 29 Mar 14 53.634 13.65188 : 1.0

KKP23CA KKP 27 Feb 14 6 Mar 14 58.781 19.1168 : 1.0

KKP42C1406A KKP 23 Jun 14 28 Jun 14 36 20.0 : 1.0

KTB01C1405A KTB 30 May 14 6 Jun 14 17 8.0 : 1.0

KTB01P1405A KTB 30 May 14 6 Jun 14 22.5 5.0 : 1.0

KTB06CB KTB 18 Jun 14 25 Jun 14 14 10.0 : 1.0

KTB06PB KTB 18 Jun 14 25 Jun 14 28 6.0 : 1.0

KTB08C1405A KTB 28 May 14 4 Jun 14 20.5 6.25 : 1.0

KTB11C1406A KTB 30 Jun 14 8 Jul 14 15.7 6.4 : 1.0

KTB13C1402A KTB 24 Feb 14 1 Mar 14 21 6.0 : 1.0

KTB13C1406A KTB 18 Jun 14 25 Jun 14 17.5 6.0 : 1.0

KTB23C1408A KTB 28 Aug 14 4 Sep 14 22.4 6.0 : 1.0

KTB28C1405A KTB 14 May 14 21 May 14 23 6.0 : 1.0

KTB28C1406A KTB 2 Jun 14 7 Jun 14 16.8 7.0 : 1.0

KTB28CE KTB 2 May 14 10 May 14 21 15.0 : 1.0

KTB28P1404A KTB 16 Apr 14 23 Apr 14 22 5.0 : 1.0

KTB28P1407A KTB 2 Jul 14 9 Jul 14 18 5.0 : 1.0

KTB42C1404A KTB 25 Apr 14 3 May 14 15.5 8.0 : 1.0

KTB42P1404A KTB 25 Apr 14 3 May 14 25 6.0 : 1.0

LH01C1403A LH 28 Mar 14 4 Apr 14 9.7 7.0 : 1.0

LH01P1403A LH 28 Mar 14 4 Apr 14 15 4.0 : 1.0

LH08CC LH 6 Jun 14 13 Jun 14 10.728 4.1448 : 1.0

LH28CB LH 3 Feb 14 8 Feb 14 12.678 5.85149 : 1.0

LPN27C1405A LPN 15 May 14 22 May 14 18 7.0 : 1.0

MCOT07C1404A MCOT 25 Apr 14 3 May 14 40.833 8.75 : 1.0

MINT01C1404A MINT 30 Apr 14 9 May 14 24 16.0 : 1.0

MINT01P1404A MINT 30 Apr 14 9 May 14 35 12.0 : 1.0

MINT08CD MINT 6 Jun 14 13 Jun 14 25 10.0 : 1.0

MINT23C1409A MINT 18 Sep 14 25 Sep 14 19.9 7.0 : 1.0

PS01C1403A PS 28 Mar 14 4 Apr 14 19 7.0 : 1.0

PS01P1403A PS 28 Mar 14 4 Apr 14 24 5.0 : 1.0

PS08C1402A PS 28 Feb 14 7 Mar 14 23 6.25 : 1.0

PS08C1407A PS 28 Jul 14 2 Aug 14 21.5 6.5 : 1.0

PS13C1405A PS 28 May 14 4 Jun 14 21.5 6.0 : 1.0

PS13CE PS 20 Jan 14 25 Jan 14 23 6.0 : 1.0

PS23C1408A PS 28 Aug 14 4 Sep 14 16.3 7.0 : 1.0

PS23CB PS 27 Jun 14 5 Jul 14 27.75 50.0 : 1.0

PS28C1404A PS 16 Apr 14 23 Apr 14 18 7.0 : 1.0

PS28CD PS 3 Feb 14 8 Feb 14 32 15.3 : 1.0

PTT01C1403A PTT 28 Mar 14 4 Apr 14 300 80.0 : 1.0

PTT01P1403A PTT 28 Mar 14 4 Apr 14 380 55.0 : 1.0

PTT03CB PTT 3 Dec 14 12 Dec 14 290.666 76.98229 : 1.0

PTT06CD PTT 6 Mar 14 13 Mar 14 197.05 98.52217 : 1.0


Derivative Warrants


Exercise Price

Exercise Ratio

PTT08C1407A PTT 18 Jul 14 25 Jul 14 332 85.0 : 1.0

PTT08P1407A PTT 18 Jul 14 25 Jul 14 295 75.0 : 1.0

PTT13C1403A PTT 26 Mar 14 2 Apr 14 320 72.0 : 1.0

PTT13C1405A PTT 9 May 14 17 May 14 310 52.0 : 1.0

PTT13P1402A PTT 24 Feb 14 1 Mar 14 334.985 39.41663 : 1.0

PTT13P1405A PTT 9 May 14 17 May 14 300 90.0 : 1.0

PTT23C1407A PTT 30 Jul 14 6 Aug 14 308.383 64.0615 : 1.0

PTT28C1402A PTT 3 Feb 14 8 Feb 14 344.838 59.11506 : 1.0

PTT28C1404A PTT 16 Apr 14 23 Apr 14 320 65.0 : 1.0

PTT28CD PTT 17 Apr 15 24 Apr 15 295.575 78.82008 : 1.0

PTT28P1403A PTT 3 Mar 14 8 Mar 14 330 50.0 : 1.0

PTTE01C1405A PTTEP 30 May 14 6 Jun 14 148 35.0 : 1.0

PTTE01P1405A PTTEP 30 May 14 6 Jun 14 190 30.0 : 1.0

PTTE06CD PTTEP 6 Mar 14 13 Mar 14 98.125 49.06771 : 1.0

PTTE08C1405A PTTEP 28 May 14 4 Jun 14 176 35.0 : 1.0

PTTE13C1402A PTTEP 17 Feb 14 22 Feb 14 158.963 29.43774 : 1.0

PTTE13C1406A PTTEP 27 Jun 14 5 Jul 14 155 36.0 : 1.0

PTTE13P1402A PTTEP 17 Feb 14 22 Feb 14 152.094 17.6616 : 1.0

PTTE13P1406A PTTEP 27 Jun 14 5 Jul 14 150 20.7 : 1.0

PTTE23C1410A PTTEP 16 Oct 14 23 Oct 14 193 30.0 : 1.0

PTTE27C1405A PTTEP 15 May 14 22 May 14 160 30.0 : 1.0

PTTE28C1403A PTTEP 3 Mar 14 8 Mar 14 155 33.0 : 1.0

PTTE28P1403A PTTEP 3 Mar 14 8 Mar 14 160 24.0 : 1.0

PTTG01C1401A PTTGC 30 Jan 14 6 Feb 14 63.417 19.5122 : 1.0

PTTG01C1406A PTTGC 27 Jun 14 5 Jul 14 69 20.0 : 1.0

PTTG01P1401A PTTGC 30 Jan 14 6 Feb 14 78.051 9.7561 : 1.0

PTTG01P1406A PTTGC 27 Jun 14 5 Jul 14 87 12.0 : 1.0

PTTG06CC PTTGC 27 Feb 14 6 Mar 14 43.487 23.63507 : 1.0

PTTG08CD PTTGC 8 May 14 16 May 14 64.392 24.39098 : 1.0

PTTG11C1406A PTTGC 30 Jun 14 8 Jul 14 76.5 16.5 : 1.0

PTTG13C1404A PTTGC 23 Apr 14 30 Apr 14 82.5 13.5 : 1.0

PTTG13P1404A PTTGC 23 Apr 14 30 Apr 14 68 8.0 : 1.0

PTTG23CB PTTGC 27 Jun 14 5 Jul 14 76.832 29.274 : 1.0

PTTG28C1403A PTTGC 3 Mar 14 8 Mar 14 68.295 16.58586 : 1.0

PTTG42C1406A PTTGC 23 Jun 14 28 Jun 14 66 20.0 : 1.0

QH01C1406A QH 27 Jun 14 5 Jul 14 2.35 1.5 : 1.0

QH01P1406A QH 27 Jun 14 5 Jul 14 3.3 1.0 : 1.0

QH06C1408A QH 28 Aug 14 4 Sep 14 2.3 2.0 : 1.0

QH11C1406A QH 30 Jun 14 8 Jul 14 2.56 1.34 : 1.0

QH13C1403A QH 31 Mar 14 5 Apr 14 3.31 1.16818 : 1.0

QH28C1403A QH 3 Mar 14 8 Mar 14 3.213 1.26553 : 1.0

RATC07CA RATCH 29 Jan 14 5 Feb 14 50.878 17.61176 : 1.0

ROBI01C1403A ROBINS 28 Mar 14 4 Apr 14 50 20.0 : 1.0

SAMA42C1406A SAMART 23 Jun 14 28 Jun 14 16 8.0 : 1.0

SCB01C1405A SCB 30 May 14 6 Jun 14 145 35.0 : 1.0

SCB01P1405A SCB 30 May 14 6 Jun 14 185 30.0 : 1.0

SCB06CE SCB 27 Mar 14 3 Apr 14 96.962 48.49661 : 1.0

SCB06PE SCB 9 May 14 16 May 14 247.283 49.45598 : 1.0

SCB08C1405A SCB 28 May 14 4 Jun 14 158 40.0 : 1.0

SCB11C1403A SCB 10 Mar 14 15 Mar 14 143.5 28.75 : 1.0

SCB11P1403A SCB 10 Mar 14 15 Mar 14 143.5 28.75 : 1.0

SCB13C1403A SCB 13 Mar 14 20 Mar 14 170 25.0 : 1.0

SCB13C1406A SCB 25 Jun 14 3 Jul 14 140 28.0 : 1.0

SCB13P1402A SCB 24 Feb 14 1 Mar 14 163.207 19.78239 : 1.0

SCB13P1406A SCB 25 Jun 14 3 Jul 14 150 22.0 : 1.0

SCB28C1402A SCB 3 Feb 14 8 Feb 14 158.261 34.61955 : 1.0


Derivative Warrants


Exercise Price

Exercise Ratio

SCB28C1405A SCB 6 May 14 13 May 14 160 35.0 : 1.0

SCB28P1404A SCB 16 Apr 14 23 Apr 14 155 22.0 : 1.0

SCC01C1401A SCC 30 Jan 14 6 Feb 14 387.227 99.30487 : 1.0

SCC01C1406A SCC 27 Jun 14 5 Jul 14 350 80.0 : 1.0

SCC01P1401A SCC 30 Jan 14 6 Feb 14 496.445 79.42812 : 1.0

SCC01P1406A SCC 27 Jun 14 5 Jul 14 440 55.0 : 1.0

SCC03CA SCC 3 Dec 14 12 Dec 14 370.606 96.7118 : 1.0

SCC06CB SCC 27 Mar 14 3 Apr 14 270.939 193.4236 : 1.0

SCC08C1407A SCC 18 Jul 14 25 Jul 14 446.801 148.93365 : 1.0

SCC13C1402A SCC 24 Feb 14 1 Mar 14 446.244 117.78563 : 1.0

SCC13C1405A SCC 16 May 14 23 May 14 380 65.0 : 1.0

SCC23C1410A SCC 16 Oct 14 23 Oct 14 483 110.0 : 1.0

SCC28C1402A SCC 3 Feb 14 8 Feb 14 446.244 107.88315 : 1.0

SCC28C1407A SCC 2 Jul 14 9 Jul 14 420 130.0 : 1.0

SIRI01C1407A SIRI 28 Jul 14 2 Aug 14 1.4 0.7 : 1.0

SIRI01P1407A SIRI 28 Jul 14 2 Aug 14 2.1 0.5 : 1.0

SIRI06C1408A SIRI 28 Aug 14 4 Sep 14 2.1 2.0 : 1.0

SIRI07C1404A SIRI 25 Apr 14 3 May 14 2.75 1.0 : 1.0

SIRI08C1405A SIRI 28 May 14 4 Jun 14 2.95 1.25 : 1.0

SIRI13C1403A SIRI 31 Mar 14 5 Apr 14 3.2 1.2 : 1.0

SIRI28C1403A SIRI 3 Mar 14 8 Mar 14 2.25 1.4 : 1.0

SPAL01C1404A SPALI 30 Apr 14 9 May 14 16 8.0 : 1.0

SPAL18C1406A SPALI 3 Jun 14 10 Jun 14 17 8.0 : 1.0

STA13C1403A STA 31 Mar 14 5 Apr 14 13.5 6.0 : 1.0

STA42C1406A STA 23 Jun 14 28 Jun 14 12 8.0 : 1.0

STEC01C1407A STEC 28 Jul 14 2 Aug 14 10.9 8.0 : 1.0

STEC01P1407A STEC 28 Jul 14 2 Aug 14 15 5.0 : 1.0

STEC08C1401A STEC 28 Jan 14 4 Feb 14 25 6.25 : 1.0

STEC08C1407A STEC 28 Jul 14 2 Aug 14 16 7.0 : 1.0

STEC18C1406A STEC 3 Jun 14 10 Jun 14 22 12.5 : 1.0

TCAP01C1401A TCAP 30 Jan 14 6 Feb 14 29.471 15.71833 : 1.0

TCAP01C1406A TCAP 27 Jun 14 5 Jul 14 28 18.0 : 1.0

TCAP01P1401A TCAP 30 Jan 14 6 Feb 14 43.224 9.82318 : 1.0

TCAP01P1406A TCAP 27 Jun 14 5 Jul 14 38 14.0 : 1.0

TCAP06CB TCAP 30 Apr 15 9 May 15 28.488 24.55796 : 1.0

TCAP23CA TCAP 27 Jun 14 5 Jul 14 49.609 29.47244 : 1.0

TCAP28C1403A TCAP 3 Mar 14 8 Mar 14 35 16.0 : 1.0

THAI01C1403A THAI 28 Mar 14 4 Apr 14 18 7.0 : 1.0

THAI01P1403A THAI 28 Mar 14 4 Apr 14 24 5.0 : 1.0

THAI08C1402A THAI 28 Feb 14 7 Mar 14 25.25 8.0 : 1.0

THAI13C1403A THAI 24 Mar 14 29 Mar 14 23 6.0 : 1.0

THAI23C1410A THAI 16 Oct 14 23 Oct 14 12 7.0 : 1.0

THAI23CA THAI 27 Jun 14 5 Jul 14 33 15.0 : 1.0

THAI28C1404A THAI 16 Apr 14 23 Apr 14 22 6.0 : 1.0

THCO01C1406A THCOM 27 Jun 14 5 Jul 14 35 20.0 : 1.0

THCO01P1406A THCOM 27 Jun 14 5 Jul 14 49 13.0 : 1.0

THCO06C1408A THCOM 28 Aug 14 4 Sep 14 24 25.0 : 1.0

THCO07C1404A THCOM 25 Apr 14 3 May 14 33 8.0 : 1.0

THCO08C1401A THCOM 28 Jan 14 4 Feb 14 37 10.0 : 1.0

THCO11C1406A THCOM 30 Jun 14 8 Jul 14 37.25 16.1 : 1.0

THCO13C1403A THCOM 31 Mar 14 5 Apr 14 35 15.0 : 1.0

THCO23C1409A THCOM 18 Sep 14 25 Sep 14 33.5 17.0 : 1.0

THCO28C1403A THCOM 3 Mar 14 8 Mar 14 36 16.0 : 1.0

TISC01C1404A TISCO 30 Apr 14 9 May 14 39 20.0 : 1.0

TISC01P1404A TISCO 30 Apr 14 9 May 14 54 12.0 : 1.0

TISC23CA TISCO 27 Jun 14 5 Jul 14 55.5 15.0 : 1.0


Derivative Warrants


Exercise Price

Exercise Ratio

TMB01C1401A TMB 30 Jan 14 6 Feb 14 2.1 1.5 : 1.0

TMB01C1406A TMB 27 Jun 14 5 Jul 14 1.7 0.75 : 1.0

TMB01P1401A TMB 30 Jan 14 6 Feb 14 3 1.0 : 1.0

TMB01P1406A TMB 27 Jun 14 5 Jul 14 2.3 0.55 : 1.0

TMB06CA TMB 27 Feb 14 6 Mar 14 1.284 1.97539 : 1.0

TMB08C1405A TMB 28 May 14 4 Jun 14 2.8 1.3 : 1.0

TMB13C1404A TMB 4 Apr 14 12 Apr 14 2.6 1.25 : 1.0

TMB16C1409A TMB 11 Sep 14 18 Sep 14 2.3 1.5 : 1.0

TMB18C1408A TMB 4 Aug 14 9 Aug 14 2.7 1.6 : 1.0

TMB23C1410A TMB 16 Oct 14 23 Oct 14 1.89 1.5 : 1.0

TMB23CA TMB 27 Feb 14 6 Mar 14 2.469 1.97539 : 1.0

TMB28C1403A TMB 3 Mar 14 8 Mar 14 2.3 1.3 : 1.0

TMB28C1405A TMB 6 May 14 13 May 14 2.75 1.3 : 1.0

TMB28C1408A TMB 1 Aug 14 8 Aug 14 2.35 1.3 : 1.0

TMB28CB TMB 3 Feb 14 8 Feb 14 3.2 1.1 : 1.0

TOP01C1404A TOP 30 Apr 14 9 May 14 58 20.0 : 1.0

TOP01P1404A TOP 30 Apr 14 9 May 14 73 12.0 : 1.0

TOP06CB TOP 27 Feb 14 6 Mar 14 44.029 23.92917 : 1.0

TOP08CF TOP 8 May 14 16 May 14 59.22 24.6748 : 1.0

TOP13C1402A TOP 24 Feb 14 1 Mar 14 67.115 14.80385 : 1.0

TOP23CA TOP 27 Feb 14 6 Mar 14 70.076 19.73944 : 1.0

TOP28C1403A TOP 3 Mar 14 8 Mar 14 60 16.0 : 1.0

TPIP01C1401A TPIPL 30 Jan 14 6 Feb 14 10 7.0 : 1.0

TPIP01C1406A TPIPL 27 Jun 14 5 Jul 14 8.5 7.0 : 1.0

TPIP01P1401A TPIPL 30 Jan 14 6 Feb 14 14 4.0 : 1.0

TPIP01P1406A TPIPL 27 Jun 14 5 Jul 14 12.4 5.0 : 1.0

TPIP08C1407A TPIPL 18 Jul 14 25 Jul 14 14.5 4.75 : 1.0

TRUE01C1403A TRUE 28 Mar 14 4 Apr 14 5.7 3.5 : 1.0

TRUE01P1403A TRUE 28 Mar 14 4 Apr 14 9.2 2.5 : 1.0

TRUE06CB TRUE 18 Jun 14 25 Jun 14 6.5 5.0 : 1.0

TRUE06PB TRUE 18 Jun 14 25 Jun 14 12 5.0 : 1.0

TRUE07CA TRUE 26 Mar 14 2 Apr 14 8.2 3.0 : 1.0

TRUE08C1407A TRUE 28 Jul 14 2 Aug 14 9 3.5 : 1.0

TRUE08CF TRUE 6 Jun 14 13 Jun 14 8.5 4.0 : 1.0

TRUE08P1404A TRUE 1 Apr 14 9 Apr 14 11 5.0 : 1.0

TRUE11C1406A TRUE 30 Jun 14 8 Jul 14 7 3.4 : 1.0

TRUE13C1402A TRUE 17 Feb 14 22 Feb 14 8.5 2.5 : 1.0

TRUE13C1405A TRUE 30 May 14 6 Jun 14 7.2 3.1 : 1.0

TRUE13C1406A TRUE 19 Jun 14 26 Jun 14 13 8.0 : 1.0

TRUE13P1402A TRUE 17 Feb 14 22 Feb 14 6.25 1.5 : 1.0

TRUE13P1403A TRUE 12 Mar 14 19 Mar 14 7.95 1.77 : 1.0

TRUE13P1405A TRUE 30 May 14 6 Jun 14 7.7 4.0 : 1.0

TRUE16C1409A TRUE 11 Sep 14 18 Sep 14 7.9 3.8 : 1.0

TRUE18C1403A TRUE 3 Mar 14 8 Mar 14 6 5.0 : 1.0

TRUE23C1401A TRUE 30 Jan 14 6 Feb 14 9.6 8.0 : 1.0

TRUE23C1407A TRUE 30 Jul 14 6 Aug 14 6.4 3.5 : 1.0

TRUE27C1405A TRUE 15 May 14 22 May 14 7.5 3.5 : 1.0

TRUE28C1404A TRUE 16 Apr 14 23 Apr 14 9 3.5 : 1.0

TRUE28C1405A TRUE 14 May 14 21 May 14 8 3.5 : 1.0

TRUE28C1406A TRUE 2 Jun 14 7 Jun 14 11.5 7.0 : 1.0

TRUE28C1407A TRUE 2 Jul 14 9 Jul 14 6.8 3.5 : 1.0

TRUE28CF TRUE 23 Apr 15 30 Apr 15 12 8.0 : 1.0

TRUE28P1402A TRUE 3 Feb 14 8 Feb 14 8 3.0 : 1.0

TRUE28P1404A TRUE 16 Apr 14 23 Apr 14 8.5 3.5 : 1.0

TRUE42C1406A TRUE 23 Jun 14 28 Jun 14 7 4.0 : 1.0

TTA08C1407A TTA 18 Jul 14 25 Jul 14 22 6.0 : 1.0


Derivative Warrants


Exercise Price

Exercise Ratio

TTA08P1407A TTA 18 Jul 14 25 Jul 14 16 5.5 : 1.0

TTA11C1406A TTA 30 Jun 14 8 Jul 14 16.7 6.5 : 1.0

TTA13C1401A TTA 28 Jan 14 4 Feb 14 21 4.3 : 1.0

TTA13C1403A TTA 31 Mar 14 5 Apr 14 16 6.0 : 1.0

TTA27C1405A TTA 15 May 14 22 May 14 15 6.5 : 1.0

TTA28C1404A TTA 16 Apr 14 23 Apr 14 17 7.0 : 1.0

TTA42C1406A TTA 23 Jun 14 28 Jun 14 14.5 7.0 : 1.0

TTCL42C1406A TTCL 23 Jun 14 28 Jun 14 32 20.0 : 1.0

TTW07CA TTW 29 Jan 14 5 Feb 14 9.28 2.93056 : 1.0

TUF01C1404A TUF 30 Apr 14 9 May 14 54 20.0 : 1.0

TUF01P1404A TUF 30 Apr 14 9 May 14 70 12.0 : 1.0

TUF06CC TUF 27 Feb 14 6 Mar 14 46.734 24.33682 : 1.0

TUF08C1405A TUF 28 May 14 4 Jun 14 59 20.0 : 1.0

TUF11C1406A TUF 30 Jun 14 8 Jul 14 67.5 16.1 : 1.0

TUF42C1406A TUF 23 Jun 14 28 Jun 14 51 20.0 : 1.0

VGI01C1406A VGI 27 Jun 14 5 Jul 14 9.8 8.0 : 1.0

VGI01P1406A VGI 27 Jun 14 5 Jul 14 13.8 5.0 : 1.0

VGI13C1404A VGI 23 Apr 14 30 Apr 14 13.729 4.7344 : 1.0

VGI13C1406A VGI 18 Jun 14 25 Jun 14 9.2 3.0 : 1.0

VGI18C1406A VGI 3 Jun 14 10 Jun 14 11.836 7.57497 : 1.0

VGI23C1409A VGI 18 Sep 14 25 Sep 14 8.1 3.5 : 1.0

VGI42C1406A VGI 23 Jun 14 28 Jun 14 10.416 7.57518 : 1.0



Technical Analysis

Security: BANPU Position: ซอ เปาหมาย : 31/32 Stop loss: < 26 Reason: ราคาหนปรบตวลงมาแลวท งส น 20% คาดหมายสญญาณฟนตวจากแนวรบบรเวณ 26-27 ซงเคยเปนจดต าสดเดมในอด ต ขณะท MACD ก า ล ง ต ด ข น ใ น ภ า ว ะ Oversold

Security: AOT Position: ซอ เปาหมาย : 172/176 Stop loss: < 162 Reason: ราคาหนปรบตวขนเหนอเสนคาเฉลย 10 และ 25 วน 160 บ. คาดสญญาณปดบวกเหนอเสนคาเฉลย จะสงผลใหราคาดดขนตอเนอง


Security: KBANK Position: ซอ เปาหมาย : 178/180 Stop loss: < 168.5 Reason: หนมความโดดเดนเมอเทยบกบหนในกลมธนาคาร เราคาดวาการเคลอนท เหนอเสนคาเฉลย 10 และ 25 วน (Golden cross)จะสงผลใ ห ห น เ ร ม ป ร บ ต ว อ ยทศทางขาขน

Security: TOP Position: ขาย Reason: แ ม ร า ค า ห นไมไดปรบตวลงแรง แตเครองมอทางเทคนคบงชถงความเสยงจากการปดต ากวาเสนคาเฉลย 10 วน 5 5 บ . โ ดยม สญญาณเตอนหรอแนวโนมการออนตวลงจากเครองมอ RSI


Security: BH Position: ขาย Reason: BH รอบนถอวาส ญญาณไม ด ขณ ะทแนวโนมระยะกลางตองระวงเนองจากการฟอรมตวรปแบบ Rounding top สอดคลองกบเครองมอทางเทคนค RSI ปรบตวลดลง

Security: TTA Position: ขาย Reason: ไมผานแนวตานส า ค ญ 1 8 -19 โ ด ย มส ญ ญ า ณ เ ต อ น ห ร อแนวโนมการออนตวลงจากเครองมอ RSI ปรบตวลดลง

ธนรตน อศรกล Tel. (662) 618-1334


Bualuang Securities Public Company Limited

BUALUANG SECURITIES PUBLIC COMPANY LIMITED (BLS) is a subsidiary of BANGKOK BANK PUBLIC COMPANY LIMITED (BBL). This document

is produced based upon sources believed to be reliable but their accuracy, completeness or correctness is not guaranteed. The statements or

expressions of opinion herein were arrived at after due and careful consideration to use as information for investment. Expressions of opinion contained

herein are subject to change without notice. This document is not, and should not be construed as, an offer or the solicitation of an offer to buy or sell

any securities. The use of any information shall be at the sole discretion and risk of the user.

BUALUANG SECURITIES PUBLIC COMPANY LIMITED MAY BE IN RELATIONSHIP WITH THE SECURITIES IN THIS REPORT. “Opinions,

projections and other information contained in this report are based upon sources believed to be accurate including the draft prospectus, but no

responsibility is accepted for any loss occasioned by reliance placed upon the contents hereof. Bualuang Securities Public Company Limited may from

time to time perform investment, advisory or other services for companies mentioned in this report, as well as dealing (as principal or otherwise) in, or

otherwise being interested in, any securities mentioned herein, This report does not constitute a solicitation to buy or sell any secur ities”. Investors

should carefully read details in the prospectus before making investment decision.

BUALUANG SECURITIES PUBLIC COMPANY LIMITED ACTS AS MARKET MAKER AND ISSUER OF DWs UNDERLYING STOCKS. Investors

should carefully read the details of the derivative warrants in the prospectus before making investment decisions. (Please file information:

www.blswarrant.com)

BUALUANG SECURITIES PUBLIC COMPANY LIMITED IS OR MAY BE A UNDERWRITER/CO-UNDERWRITER/JOINT LEAD IN RESPECT OF THE

INITIAL PUBLIC OFFERING (“IPO”) OF SECURITIES.

Financial Advisor Lead underwriter/

Underwriter/ Co-underwriter

Score Range Score Range Description

90 – 100 Excellent

80 – 89 Very Good

70 – 79 Good

60 – 69 Satisfactory

50 – 59 Pass

Below 50 No logo given N/A

CORPORATE GOVERMANCE REPORT DISCLAIMER

This research report was prepared by Bualuang Securities Public Company Limited and refers to research prepared by Morgan Stanley. Morgan Stanley

does not warrant or guarantee the accuracy or completeness of its research reports. Morgan Stanley reserves copyright and other proprietary rights in

the material reproduced in this report. Morgan Stanley is under no obligation to inform Bualuang Securities or you if the views or information referred to

or reproduced in this research report change.

Corporate Governance Report disclaimer

The disclosure of the survey result of the Thai Institute of Directors Association (“IOD”) regarding corporate governance is made pursuant to the policy

of the Office of the Securities and Exchange Commission. The survey of the IOD is based on the information of a company listed on the Stock

Exchange of Thailand and the Market for Alternative Investment disclosed to the public and able to be accessed by a general public investor. The

result, therefore, is from the perspective of a third party. It is not an evaluation of operation and is not base on inside information.

The survey result is as of the date appearing in the Corporate Governance Report of Thai Listed Companies. As a result, the survey result may be

changed after that date. Bualuang Securities Public Company Limited does not conform nor certify the accuracy of such survey result.

BUALUANG RESEARCH – RECOMMENDATION FRAMEWORK

STOCK RECOMMENDATIONS BUY: Expected positive total returns of 15% or more over the next 12

months.

HOLD: Expected total returns of between -15% and +15% over the next 12

months.

SELL: Expected negative total returns of 15% or more over the next 12

months.

TRADING BUY: Expected positive total returns of 15% or more over the next

3 months.

SECTOR RECOMMENDATIONS OVERWEIGHT: The industry, as defined by the analyst's coverage universe, is

expected to outperform the relevant primary market index over the next 12 months.

NEUTRAL: The industry, as defined by the analyst's coverage universe, is

expected to perform in line with the relevant primary market index over the next 12

months.

UNDERWEIGHT: The industry, as defined by the analyst's coverage universe, is

expected to underperform the relevant primary market index over the next 12

months.

DISCLAIMER

http://www.blswarrant.com/

Market Statistics Daily - 1

Market Statistics Daily

24 January 2014

Figure 1: Changes in management's securities holding

Name of Name of Management Types of Total Volume Price Total Value Transaction ActionCompany Securities (Shrs) (Bt) (Bt) Date

PS THONGMA VIJITPONGPUN Common share 1,200,000 17.69 21,228,000 22-01-2014 BuyPS THONGMA VIJITPONGPUN Common share 1,170,000 17.95 21,001,500 20-01-2014 BuyPS THONGMA VIJITPONGPUN Common share 400,000 18.05 7,220,000 21-01-2014 BuyANAN TANYALAK NUNTHANAVORASIRI Common share 3,579,000 1.75 6,263,250 20-01-2014 BuyEPCO YUTH CHINSUPAKUL Common share 150,000 3.11 466,500 23-01-2014 BuySUSCO PIMUK SIMAROJ Common share 100,000 3.07 307,000 20-01-2014 BuyTICON DAVID TARRANT Common share 27,800 0.01 278 03-01-2014 BuyWG SALIN PINKAYAN Common share 3,200 106.13 339,616 22-01-2014 SellEPCO YUTH CHINSUPAKUL Warrant 20,000 1.07 21,400 22-01-2014 SellEPCO YUTH CHINSUPAKUL Warrant 10,000 1.09 10,900 21-01-2014 SellSources: SEC, Bualuang research

As of 23 Jan 2014


Figure 2: Short Sale Trading

As of 23 Jan 2014

Stock Volume (Shares) Turnover (Baht) %Short Sale Volume Comparing w ith Main Board

KBANK 1,659,300 285,498,950.00 10.94%SCB 823,600 125,357,700.00 5.75%PTT 390,700 111,462,100.00 12.14%KTB 5,278,400 93,380,800.00 4.45%ADVANC 433,100 92,179,100.00 5.80%TRUE 11,597,600 90,410,720.00 3.38%BBL 479,500 84,034,950.00 3.64%AOT 471,700 77,259,600.00 3.33%PTTEP 234,900 37,472,750.00 4.29%INTUCH 410,100 29,380,775.00 3.86%DTAC 230,400 22,702,025.00 4.67%CPALL 530,800 21,092,175.00 2.77%SCC 52,400 21,082,800.00 4.26%TCAP 606,100 19,020,475.00 9.65%PTTGC 188,400 13,764,850.00 1.41%CPF 426,800 12,828,800.00 2.19%BANPU 387,800 10,654,025.00 2.49%JAS 1,398,100 10,045,440.00 0.52%CPN 186,800 7,349,425.00 4.57%BGH 58,500 7,025,250.00 4.67%IVL 314,900 6,619,790.00 2.23%BEC 131,700 6,441,475.00 5.85%BIGC 35,100 6,075,350.00 9.14%TOP 107,900 5,854,650.00 3.82%BTS 677,600 5,590,200.00 1.00%CK 368,000 5,498,100.00 3.31%EGCO 42,300 5,297,600.00 5.44%TMB 2,102,000 4,760,560.00 1.01%MINT 222,500 4,725,320.00 2.15%KKP 124,400 4,548,750.00 15.68%LH 519,000 4,523,085.00 3.08%GLOW 60,200 4,112,500.00 10.09%BLA 60,400 3,881,625.00 9.83%HMPRO 426,300 3,864,450.00 3.19%TUF 55,600 3,737,000.00 1.54%BJC 70,400 3,296,500.00 12.23%RATCH 62,700 3,057,300.00 14.04%IRPC 945,000 3,030,872.00 2.89%THAI 210,400 2,943,210.00 9.31%BCH 512,900 2,920,235.00 38.19%SCCC 7,200 2,710,800.00 6.05%BH 31,100 2,618,250.00 3.64%GLOBAL 172,100 2,588,490.00 7.78%DELTA 44,800 2,292,800.00 2.15%ROBINS 46,800 2,123,475.00 3.38%ITD 524,500 1,933,154.00 3.42%THCOM 46,400 1,736,750.00 2.58%


Figure 2: Short Sale Trading (Cont’d) Stock Volume (Shares) Turnover (Baht) %Short Sale Volume

Comparing w ith Main Board

CENTEL 56,000 1,559,250.00 0.98%PS 80,500 1,419,100.00 1.85%BCP 52,000 1,396,900.00 1.69%VGI 149,200 1,344,390.00 0.67%TTW 131,700 1,264,320.00 14.13%MAJOR 50,000 825,000.00 0.70%WHA 21,000 625,000.00 0.27%AAV 130,000 485,600.00 1.14%ERW 100,000 328,000.00 2.64%ESSO 45,000 258,240.00 2.43%KCE 10,000 230,000.00 0.32%QH 50,000 132,400.00 0.42%LOXLEY 10,000 37,000.00 0.23%STPI 2,000 36,400.00 0.09%Sources: SET, Bualuang researchRemark: Excluding ETF


Figure 3: Short sale volume (as % of total listed shares) - previous three months

Figure 4: Short sale volume (as % of total listed shares) - previous six months

Sources: SET, Bualuang Research

Remark: Excluding ETF

5.75

3.66

3.05 2.99

1.91 1.69 1.39 1.39

1.33 0.99 0.96 0.93 0.86 0.82 0.77

0.0

1.3

2.6

3.9

5.2

6.5

TRU

E

ITD

JAS

CK

AMAT

A

KBAN

K

INTU

CH

STE

C

AOT

IVL

SIR

I

ADVA

NC

KTB

BBL

BLAN

D

(%)

9.94 9.57

7.76 7.42

4.35 3.28 3.13

3.11 2.84 2.62 2.10 2.06 1.87 1.86 1.72

0.0

2.2

4.4

6.6

8.8

11.0

TRU

E

CK

JAS

ITD

SIR

I

QH

KBAN

K

STE

C

AMAT

A

INTU

CH

KTB

AOT

CP

ALL

IVL

BBL

(%)


Bualuang Securities Public Company Limited

BUALUANG SECURITIES PUBLIC COMPANY LIMITED (BLS) is a subsidiary of BANGKOK BANK PUBLIC COMPANY LIMITED (BBL). This document is produced based upon sources believed to be reliable but their accuracy, completeness or correctness is not guaranteed. The statements or expressions of opinion herein were arrived at after due and careful consideration to use as information for investment. Expressions of opinion contained herein are subject to change without notice. This document is not, and should not be construed as, an offer or the solicitation of an offer to buy or sell any securities. The use of any information shall be at the sole discretion and risk of the user.

BUALUANG SECURITIES PUBLIC COMPANY LIMITED MAY BE IN RELATIONSHIP WITH THE SECURITIES IN THIS REPORT. “Opinions, projections and other information contained in this report are based upon sources believed to be accurate including the draft prospectus, but no responsibility is accepted for any loss occasioned by reliance placed upon the contents hereof. Bualuang Securities Public Company Limited may from time to time perform investment, advisory or other services for companies mentioned in this report, as well as dealing (as principal or otherwise) in, or otherwise being interested in, any securities mentioned herein, This report does not constitute a solicitation to buy or sell any securities”. Investors should carefully read details in the prospectus before making investment decision.

BUALUANG SECURITIES PUBLIC COMPANY LIMITED ACTS AS MARKET MAKER AND ISSUER OF DWs UNDERLYING STOCKS. Investors should carefully read the details of the derivative warrants in the prospectus before making investment decisions. (Please file information: www.blswarrant.com)

BUALUANG SECURITIES PUBLIC COMPANY LIMITED IS OR MAY BE A UNDERWRITER/CO-UNDERWRITER/JOINT LEAD IN RESPECT OF THE INITIAL PUBLIC OFFERING (“IPO”) OF SECURITIES.

Financial Advisor Lead underwriter/

Underwriter/ Co-underwriter

Score Range Score Range Description

90 – 100 Excellent 80 – 89 Very Good 70 – 79 Good 60 – 69 Satisfactory 50 – 59 Pass

Below 50 No logo given N/A

CORPORATE GOVERMANCE REPORT DISCLAIMER

This research report was prepared by Bualuang Securities Public Company Limited and refers to research prepared by Morgan Stanley. Morgan Stanley does not warrant or guarantee the accuracy or completeness of its research reports. Morgan Stanley reserves copyright and other proprietary rights in the material reproduced in this report. Morgan Stanley is under no obligation to inform Bualuang Securities or you if the views or information referred to or reproduced in this research report change.

Corporate Governance Report disclaimer

The disclosure of the survey result of the Thai Institute of Directors Association (“IOD”) regarding corporate governance is made pursuant to the policy of the Office of the Securities and Exchange Commission. The survey of the IOD is based on the information of a company listed on the Stock Exchange of Thailand and the Market for Alternative Investment disclosed to the public and able to be accessed by a general public investor. The result, therefore, is from the perspective of a third party. It is not an evaluation of operation and is not base on inside information. The survey result is as of the date appearing in the Corporate Governance Report of Thai Listed Companies. As a result, the survey result may be changed after that date. Bualuang Securities Public Company Limited does not conform nor certify the accuracy of such survey result. BUALUANG RESEARCH – RECOMMENDATION FRAMEWORK STOCK RECOMMENDATIONS BUY: Expected positive total returns of 15% or more over the next 12 months. HOLD: Expected total returns of between -15% and +15% over the next 12 months. SELL: Expected negative total returns of 15% or more over the next 12 months. TRADING BUY: Expected positive total returns of 15% or more over the next 3 months.

SECTOR RECOMMENDATIONS OVERWEIGHT: The industry, as defined by the analyst's coverage universe, is expected to outperform the relevant primary market index over the next 12 months. NEUTRAL: The industry, as defined by the analyst's coverage universe, is expected to perform in line with the relevant primary market index over the next 12 months. UNDERWEIGHT: The industry, as defined by the analyst's coverage universe, is expected to underperform the relevant primary market index over the next 12 months.

DISCLAIMER

Closing price as (* In case of no closing price of the indictated date, use the latest closing price)Warrants Warrant Black & Premium Stock Exercise Expiry Shares Conversion Gearing All-in Delta Implied CFP Exercise

Price Scholes on B/S Price Price Date Outstanding Ratio Premium Elasticity Volatility Date% (m shares) % % % %

ACD-W2 0.81 1.20 (32.28) 2.06 1.00 07-Jun-16 161.75 1.00000 2.54 (12.14) 2.54 0.00 (8.99) Last business day of May, NovAGE-W1 1.90 1.93 (1.35) 2.08 0.71 13-Feb-14 31.99 1.40600 1.54 (0.85) 1.54 0.00 (36.08) Last business day of Jun, DecAMC-W1 0.06 0.03 80.86 2.44 3.00 07-Mar-14 39.98 1.00000 40.67 25.41 8.62 67.30 647.79 Last business day of Mar, Jun, Sep, DecAQUA-W2 0.18 0.22 (17.69) 0.96 0.75 15-Mar-14 673.39 1.00000 5.33 (3.13) 5.33 0.00 (24.90) Last business day of Jun, DecBLAND-W3 * 0.39 0.35 11.02 1.55 1.70 07-Nov-15 1,991.55 1.00000 3.97 34.84 2.39 54.95 23.86 Last business day of Mar, Jun, Sep, DecBLAND-W4 0.33 0.49 (32.13) 1.55 2.00 02-Jul-18 6,948.39 1.00000 4.70 50.32 2.54 36.85 11.78 Last business day of Mar, Jun, Sep, DecBROOK-W4 1.30 1.25 3.90 1.80 0.84 08-Aug-16 369.44 1.25500 1.74 4.10 1.55 67.91 3.70 Last business day of Mar, Jun, Sep, DecBSM-W1 1.08 1.08 0.31 1.53 0.50 03-Jan-16 75.00 1.00000 1.42 3.27 1.36 61.98 5.57 Last business day of Mar, Jun, Sep, Dec 2014-15BTS-W3 0.80 2.49 (67.90) 8.35 12.00 01-Nov-18 3,944.63 1.00000 10.44 53.29 3.75 30.76 10.20 30 Dec 16, 1 Nov 18BWG-W1 1.05 1.08 (2.50) 2.28 1.20 13-Jul-14 85.60 1.00000 2.17 (1.32) 2.17 0.00 (5.16) Last business day of Mar, Jun, Sep, DecCCP-W1 4.20 4.66 (9.92) 4.48 1.00 29-Sep-14 49.34 1.33400 1.42 (7.40) 1.42 0.00 (34.39) Last business day of Mar, Jun, Sep, DecCCP-W2 3.20 3.54 (9.66) 4.48 1.00 30-Sep-16 86.61 1.00000 1.40 (6.25) 1.40 0.00 (8.78) Last business day of Mar, Jun, Sep, DecCEN-W3 1.50 1.10 36.16 2.96 2.00 10-Jun-15 116.53 1.00000 1.97 18.24 1.62 85.84 25.71 Last business day of Mar, Jun, Sep, DecCHO-W1 * 0.88 1.11 (20.55) 1.57 0.50 27-Oct-16 359.90 1.00000 1.78 (12.10) 1.78 0.00 (11.02) Last business day of Mar, Jun, Sep, DecCIG-W4 0.10 0.02 488.79 0.66 1.00 29-Oct-14 601.79 0.50000 3.30 81.82 1.89 125.42 177.19 Last business day of each monthCMO-W1 0.64 0.31 106.60 1.70 2.00 11-Nov-15 27.00 1.00000 2.66 55.29 1.79 90.57 42.37 1 Apr 13-15, 1 Oct 13-14, 11 Nov 15COLOR-W1 0.42 0.24 74.66 2.02 4.00 16-Jun-16 48.42 1.00000 4.81 118.81 2.17 64.97 46.62 Last business day of Mar, Jun, Sep, DecCPI-W1 0.51 0.53 (3.40) 2.24 2.25 01-Jul-15 148.90 1.00000 4.39 23.21 2.73 48.21 20.13 Last business day of Jun, DecCWT-W2 1.02 0.57 79.72 1.38 1.00 30-Jan-16 82.03 1.00000 1.35 46.38 1.20 143.64 65.97 Last business day of Jun, DecDEMCO-W5 1.03 0.35 192.61 7.10 12.00 05-Feb-15 38.05 1.00000 6.89 83.52 2.71 77.49 93.45 Last business day of Jan, Jul 14 and 5 Feb 15DEMCO-W6 0.95 0.51 85.15 7.10 15.00 05-Feb-16 38.05 1.00000 7.47 124.65 2.63 63.05 55.05 Last business day of Jan, Jul 14 and 15, 5 Feb 16DIMET-W1 0.55 0.84 (34.41) 1.17 0.50 01-Nov-17 90.00 1.00000 2.13 (10.26) 2.13 0.00 (5.54) Last business day of Jun, DecEARTH-W3 4.78 5.19 (7.94) 6.60 1.47 15-Sep-16 51.19 1.02300 1.41 (6.99) 1.41 0.00 (9.83) 15 Mar and 15 Sep throughout the life of warrantEFORL-W2 0.40 0.44 (8.55) 0.53 0.10 22-Aug-16 4,599.61 1.00000 1.33 (5.66) 1.33 0.00 (9.68) 22 Aug 2016EMC-W3 0.04 0.00 Very High 0.54 1.21 29-Mar-14 293.20 1.24500 16.81 129.10 3.46 163.96 Very High Last business day of Mar, Jun, Sep, DecEPCO-W1 1.07 0.98 9.01 3.22 2.27 20-Oct-14 119.60 1.01500 3.05 3.11 2.62 47.34 6.33 Last business day of Mar, Jun, Sep, DecE-W1 0.40 0.52 (22.51) 0.94 1.41 22-Dec-20 347.00 1.06500 2.50 89.74 1.66 47.26 14.13 Last business day of Mar, Jun, Sep, DecE-W2 0.29 0.41 (29.55) 0.94 2.00 22-Dec-20 261.75 1.00000 3.24 143.62 1.80 47.15 17.65 Last business day of Mar, Jun, Sep, DecEVER-W1 0.51 0.23 119.86 1.01 1.00 01-Dec-14 1,079.44 1.00000 1.98 49.50 1.50 145.34 125.58 31 Mar, 30 Jun, 30 Sep and 28 Nov 14FOCUS-W1 0.39 0.01 Very High 1.96 3.00 15-Jun-14 62.50 1.00000 5.03 72.96 2.37 135.53 428.27 Last business day of Jan, Apr, Jul, OctGEN-W3 0.06 0.03 81.11 0.71 0.94 15-May-14 577.87 1.06600 12.61 39.90 4.31 78.53 226.68 Last business day of DecGEN-W4 0.18 0.15 17.40 0.71 1.20 09-Jun-16 1,327.19 1.00000 3.94 94.37 2.05 66.11 41.06 Last business day of DecGJS-W2 0.06 0.04 66.72 0.06 0.21 12-Dec-17 4,933.06 3.63000 3.63 272.55 1.74 74.40 49.44 Last business day of Jun, DecGJS-W3 0.14 0.09 62.75 0.06 0.15 07-Feb-20 3,674.43 4.00000 1.71 208.33 1.29 85.61 34.53 Last business day of Jun, DecGLAND-W1 5.15 1.85 177.83 2.78 1.00 26-May-14 10.15 1.02900 0.56 116.00 0.55 Very High Very High Last business day of Mar, Jun, Sep, DecGLAND-W2 1.61 2.14 (24.90) 2.78 1.00 30-Jun-16 211.97 1.00000 1.73 (6.12) 1.73 0.00 (6.25) 30 Jun throughout the life of warrantGL-W2 30.50 36.25 (15.86) 6.00 2.96 31-Oct-14 5.36 11.83600 2.33 (7.77) 2.33 0.00 (17.37) Last business day of Mar, Jun, Sep and DecGL-W3 0.88 0.67 31.82 6.00 10.00 01-Dec-15 332.78 1.00000 6.82 81.33 2.73 57.06 43.54 Last business day of each monthGOLD-W1 2.88 3.02 (4.52) 6.00 3.00 31-Mar-14 361.91 1.00000 2.08 (2.00) 2.08 0.00 (19.50) Last business day of Mar, Jun, Sep, DecGSTEL-W1 0.05 0.03 82.50 0.10 0.55 29-Sep-19 5,676.19 1.00000 2.00 500.00 1.33 94.39 52.50 Last business day of Jun, DecGSTEL-W2 0.06 0.03 119.41 0.10 0.55 26-Sep-19 1,348.65 1.00000 1.67 510.00 1.24 106.64 58.72 Last business day of Jun, DecIEC-W1 0.01 0.00 110.40 0.03 0.03 18-Jun-14 8,699.34 1.00000 3.00 23.33 2.10 118.87 112.85 Last business day of Mar, Jun, Sep, DecILINK-W1 3.86 3.69 4.58 18.20 20.00 23-Jun-16 15.00 1.00000 4.72 31.10 2.71 41.60 14.78 Last business day of Mar, Jun, Sep, DecKAMART-W 2.88 2.92 (1.44) 4.94 2.00 07-May-14 36.47 1.00000 1.72 (1.21) 1.72 0.00 (9.94) Last business day of Jul, Oct 13, Jan, May 6, 14KCE-W2 17.20 15.84 8.59 22.30 5.00 19-Jun-16 96.91 1.00000 1.30 (0.45) 1.24 106.59 (0.82) 1- 10 of Mar, Jun, Sep, DecKMC-W2 0.05 0.00 Very High 0.30 1.12 20-Jun-15 1,030.90 0.89300 5.36 292.00 1.98 110.30 196.35 Last business day of Mar, Jun, Sep, DecKMC-W3 0.10 0.01 Very High 0.30 0.60 19-May-16 2,624.55 1.00000 3.00 133.33 1.72 87.25 60.64 Last business day of Mar, Jun, Sep, DecLIVE-W2 0.19 0.22 (13.00) 0.29 0.10 08-Dec-16 864.97 1.00000 1.53 0.00 1.53 0.00 0.00 Last business day of Mar, Jun, Sep, DecLVT-W3 0.01 0.00 Very High 0.79 1.25 14-Feb-14 172.16 1.00000 79.00 59.49 7.65 130.97 Very High Last business day of Mar, Jun, Sep, DecMATCH-W2 1.20 1.37 (12.69) 2.56 1.29 29-May-14 58.17 1.08200 2.31 (6.17) 2.31 0.00 (28.58) Last business day of Mar, Jun, Sep, DecMILL-W1 0.01 0.23 (95.61) 1.66 1.71 24-Feb-14 114.60 2.93100 486.55 2.98 76.90 8.59 41.35 Last business day of Jun, DecMILL-W2 0.26 0.31 (14.89) 1.66 2.50 29-May-16 465.90 1.00000 6.38 66.27 2.78 45.48 28.05 Last business day of Jun, DecNBC-W1 1.84 0.05 Very High 1.01 3.00 11-Jul-18 176.86 1.00000 0.55 379.21 0.55 Very High Very High 15th of Jun, DecNEP-W2 0.59 0.56 5.36 1.01 0.50 15-Dec-16 472.41 1.00000 1.71 7.92 1.56 47.57 6.21 15th of Mar, Jun Sep, DecNINE-W1 1.12 1.02 9.47 3.76 4.00 11-Jul-18 84.96 1.00000 3.36 36.17 2.19 38.44 9.76 15th of Jun, DecNIPPON-W 0.54 0.42 28.72 1.33 1.00 30-May-16 182.99 1.00000 2.46 15.79 1.91 55.93 10.56 Last business day of Feb, May, Aug, NovNMG-W3 0.42 0.43 (2.63) 1.15 1.00 19-Jun-18 1,645.86 1.00000 2.74 23.48 2.07 33.50 7.41 15th of Jun, DecNNCL-W2 1.03 1.09 (5.29) 2.14 1.00 29-Dec-15 700.19 1.00000 2.08 (5.14) 2.08 0.00 (5.27) Last business day of Mar, Jun, Sep, DecNUSA-W1 0.29 0.12 142.32 0.80 1.00 31-May-16 494.70 1.00000 2.76 61.25 1.79 70.67 33.17 Last business day of May and NovNWR-W1 0.70 0.10 570.90 2.00 2.20 26-Jun-14 246.77 1.00000 2.86 45.00 1.88 154.47 250.80 26 Sep, 26 Dec 13, 26 Mar, 26 Jun 14PF-W3 0.36 0.11 218.23 0.90 1.0000 18-Jul-15 178.05 1.00000 2.50 51.11 1.73 95.79 51.66 Last business day of Mar, Jun, Sep, DecPLE-W2 0.31 0.02 Very High 1.49 3.2000 20-Oct-15 536.19 1.00000 4.81 135.57 2.14 83.33 77.60 20 Oct 2015PRINC-W1 1.44 1.60 (9.87) 2.70 1.2000 30-Sep-16 466.83 1.00000 1.88 (2.22) 1.88 0.00 (1.80) Last business day of Mar, Jun, Sep, Dec

23 Jan 2014Bualuang Securities

Closing price as (* In case of no closing price of the indictated date, use the latest closing price)Warrants Warrant Black & Premium Stock Exercise Expiry Shares Conversion Gearing All-in Delta Implied CFP Exercise

Price Scholes on B/S Price Price Date Outstanding Ratio Premium Elasticity Volatility Date% (m shares) % % % %

23 Jan 2014Bualuang Securities

PYLON-W1 4.10 4.59 (10.58) 5.40 1.76 25-Apr-15 77.57 1.25000 1.65 (6.67) 1.65 0.00 (13.84) Last business day of Jun, DecRCI-W1 1.57 1.07 46.09 3.58 3.00 22-Oct-15 74.45 1.00000 2.28 27.65 1.73 72.91 25.84 22 Oct 14, 22 Oct 15RML-W3 0.23 0.03 663.94 1.15 2.75 15-May-15 893.84 1.00000 5.00 159.13 2.10 97.22 131.55 Last business day of Mar, Jun, Sep, DecROJNA-W2 4.00 4.52 (11.48) 7.15 3.33 30-Jul-14 12.73 1.19982 2.14 (6.74) 2.14 0.00 (23.18) Last business day of Feb, May, Aug, NovROJNA-W3 3.04 3.03 0.22 7.15 4.00 18-Jul-16 142.12 1.00000 2.35 (1.54) 2.17 30.45 (1.09) Last business day of Feb, May, Aug, NovRS-W2 4.60 5.01 (8.24) 6.95 1.90 19-May-14 52.97 1.00000 1.51 (6.47) 1.51 0.00 (49.07) Last business day of Jun, DecSIMAT-W1 5.10 5.68 (10.24) 4.84 1.01 28-Aug-14 33.86 1.48210 1.41 (7.99) 1.41 0.00 (42.13) Last business day of Mar, Jun, Sep, DecSINGHA-W 0.06 0.00 Very High 0.30 6.00 28-Nov-14 112.00 1.00000 5.00 1,920.00 1.64 221.76 Very High Last business day of May, NovSIRI-W1 0.95 0.89 6.42 1.90 1.11 20-Jan-15 1,046.75 1.16700 2.33 1.48 2.07 56.37 2.61 Last business day of Mar, Jun, Sep, DecSLC-W1 0.15 0.05 187.15 0.63 0.65 16-May-15 250.00 0.61260 2.57 42.04 1.79 89.05 49.25 Last business day of May, NovSLC-W2 0.09 0.06 39.74 0.63 0.40 28-Oct-15 606.10 0.25210 1.76 20.16 1.49 84.86 24.26 Last business day of Mar, SepSLC-W3 0.35 0.52 (33.20) 0.63 0.69 14-Sep-16 484.88 1.44140 2.59 48.07 1.78 63.64 24.45 Last business day of Mar and SepSMM-W2 0.18 0.17 4.04 1.44 1.41 25-Apr-14 59.99 1.06666 8.53 9.36 5.08 52.36 49.80 Date on the 25th each monthSPORT-W3 2.40 2.11 13.51 3.50 1.68 21-Apr-15 36.95 1.16153 1.69 7.01 1.51 90.65 13.60 Last business day of Mar, Jun, Sep, DecSPORT-W4 1.80 1.83 (1.68) 3.50 1.70 15-Aug-14 56.69 1.03058 2.00 (1.58) 2.00 0.00 (5.61) Last business day of Mar, Jun, Sep, DecSTAR-W2 1.23 0.60 104.46 3.16 2.90 03-Jun-16 34.00 1.00000 2.57 30.70 1.86 57.82 18.84 3 Jun throughout the life of warrantTASCO-W3 * 0.67 0.12 482.10 47.25 68.41 17-Apr-14 15.25 1.00000 70.52 46.20 8.29 57.77 442.06 Last business day of Mar, Jun, Sep, DecTCC-W1 0.40 0.44 (9.48) 1.00 0.72 30-Oct-14 11.07 1.39010 3.48 0.67 3.48 0.00 1.24 Last business day of JunTCC-W2 0.57 0.55 3.10 1.00 0.82 03-May-18 68.33 1.21782 2.14 28.90 1.68 47.32 10.69 Last business day of Feb, May, Aug, NovTCC-W3 0.44 0.64 (31.46) 1.00 0.88 01-Apr-22 92.20 1.14249 2.60 26.01 2.05 23.23 4.40 Last business day of Mar, Jun, Sep, DecTCC-W4 0.46 0.56 (17.65) 1.00 1.00 14-May-23 369.78 1.00000 2.17 46.00 1.66 34.04 6.84 Last business day of Mar, Jun, Sep, DecTCJ-W1 4.50 4.09 10.00 12.10 9.80 17-Mar-16 9.15 1.02000 2.74 17.49 2.09 47.37 12.00 Last business day of Mar, Jun, Sep, DecTCMC-W1 1.06 0.99 6.64 2.68 2.00 26-Aug-16 171.11 1.00000 2.53 14.18 2.00 45.50 8.48 Last business day of Mar, SepTFD-W2 2.96 2.89 2.50 7.20 5.00 15-May-16 180.41 1.00000 2.43 10.56 2.02 42.65 7.41 Last business day of Mar, Jun, Sep, DecTH-W1 0.95 0.48 98.19 1.21 1.00 09-Sep-17 60.00 1.00000 1.27 61.16 1.14 121.52 44.97 Last business day of SepTICON-W3 0.01 0.00 925.32 16.20 18.84 31-Jan-14 214.68 1.06150 1719.63 16.36 37.50 53.21 Very High Last business day of Mar, Jun, Sep, DecTICON-W6 8.20 8.35 (1.75) 16.20 7.77 03-Oct-14 3.80 1.02997 2.03 (2.91) 2.03 0.00 (8.18) Last business day of Mar, Jun, Sep, DecTIES-W2 0.48 0.32 52.09 1.18 1.00 14-May-15 223.06 1.00000 2.46 25.42 1.83 77.48 31.53 Last business day of Mar, Jun, Sep, DecTLUXE-W2 0.70 0.30 130.83 2.56 2.50 20-Feb-15 115.49 1.00000 3.66 25.00 2.33 76.93 31.70 Last business day of Mar, SepTMI-W1 1.21 1.23 (1.92) 1.52 0.25 04-Oct-15 180.26 1.00000 1.26 (3.95) 1.26 0.00 (11.93) Last business day of May, NovTPAC-W1 1.98 2.05 (3.35) 6.15 5.00 21-May-16 49.97 1.00000 3.11 13.50 2.37 37.60 8.13 Last business day of Mar, SepTRT-W2 1.13 1.19 (5.30) 5.05 5.50 05-Oct-15 51.31 1.00000 4.47 31.29 2.64 47.51 22.10 Last business day of May, NovTRUBB-W1 0.60 0.01 Very High 1.83 3.20 07-Aug-14 54.52 1.25000 3.81 101.09 1.97 149.15 403.01 Last business day of Jun, DecTRUBB-W1 0.60 0.01 Very High 1.83 3.20 07-Aug-14 54.52 1.25000 3.81 101.09 1.97 149.15 403.01 Last business day of Jun, DecTSF-W2 0.42 0.47 (9.97) 0.57 0.23 14-May-15 246.16 1.31986 1.79 (4.35) 1.79 0.00 (7.65) Last business day of Feb, May, Aug, NovTTA-W3 4.80 5.03 (4.48) 17.80 17.00 12-Sep-15 139.10 1.00000 3.71 22.47 2.48 47.26 17.86 Last business day of Mar, Jun, Sep, DecTVD-W1 1.12 0.79 41.30 3.14 3.50 14-Jul-16 23.50 1.00000 2.80 47.13 1.88 68.74 24.91 Last business day of Jun, DecTWZ-W2 0.07 0.03 163.23 0.32 0.40 12-Sep-14 1,028.56 1.00000 4.57 46.88 2.45 93.22 110.15 Only 1 time on 12 Sep 2014TYM-W1 0.29 0.05 508.77 3.96 5.00 23-Jun-14 100.00 1.00000 13.66 33.59 4.71 60.65 112.23 Last business day of Mar, SepUAC-W1 3.16 3.67 (13.85) 7.95 6.25 31-Jan-16 91.01 1.20000 3.02 11.74 2.38 37.32 8.34 Last business day of Mar, Jun, Sep, DecUKEM-W1 0.63 0.57 9.68 1.09 0.50 05-Nov-14 109.17 1.00000 1.73 3.67 1.57 98.13 11.27 Last business day of Jun, DecUWC-W1 1.00 1.04 (3.64) 1.93 1.00 13-Nov-15 141.33 1.00000 1.93 3.63 1.82 39.25 4.11 Last business day of Mar, Jun, Sep, DecWAT-W1 0.02 0.00 Very High 0.03 0.32 14-Feb-15 780.00 3.12010 4.68 988.03 1.69 178.68 Very High Last business day of Jun, DecWAT-W2 0.02 0.00 Very High 0.03 0.27 28-Jun-16 4,149.93 1.47060 2.21 845.33 1.35 151.97 217.07 Last business day of Dec

Stock CoverageBLS Rating Gearing BLS Rating All-in

PremiumTICON-W3 HOLD 1,719.63 ROJNA-W2 BUY (6.74)TICON-W3 HOLD 1,719.63 PYLON-W1 BUY (6.67)BTS-W3 BUY 10.44 TICON-W6 HOLD (2.91)TTA-W3 HOLD 3.71 ROJNA-W3 BUY (1.54)ROJNA-W3 BUY 2.35 KAMART-W HOLD (1.21)SIRI-W1 SELL 2.33 KCE-W2 BUY (0.45)ROJNA-W2 BUY 2.14 SIRI-W1 SELL 1.48KAMART-W HOLD 1.72 TICON-W3 HOLD 16.36PYLON-W1 BUY 1.65 TTA-W3 HOLD 22.47KCE-W2 BUY 1.30 BTS-W3 BUY 53.29Note: Rank by Gearing Note: Rank by All-in Premium

*NOTE: BLAND-W3: Details of Warrant Exercise Period Exercise Price (Bt).

- 8 Nov 2010 - 7 Nov 2011 = Bt1.10.- 8 Nov 201 - 7 Nov 2012 = Bt1.30.- 8 Nov 2012 - 7 Nov 2013 = Bt1.50.- 8 Nov 2013 - 7 Nov 2014 = Bt1.70.- 8 Nov 2014 - 7 Nov 2015 = Bt1.90.

CHO-W1: The first exercise date 30 Dec 2014.TASCO-W3: The first exercise date 31 May 2011.

- Months 1-12 : From the warrant issue date until the end of 12 months period of the warrants (Apr 18, 2011-Apr 17, 2012), the exercise price shall be Baht 62.19 per share (initial exercise price).- Months 13-18 : From the day following the end of 12 months period of the warrants until the end of 18 months period of the warrants (April 18, 2012 - October 17, 2012), the exercise price shall be Baht 63.74 per share (calculated from initial exercise price + 2.5%).- Months 19-24 : From the day following the end of 18 months period of the warrants until the end of 24 months period of the warrants (October 18, 2012 - April 17, 2013), the exercise price shall be Baht 65.30 per share (calculated from initial exercise price + 5.0%).- Months 25-30 : From the day following the end of 24 months period of the warrants until the end of 30 months period of the warrants (April 18, 2013 - October 17, 2013), the exercise price shall be Baht 66.85 per share (calculated from initial exercise price + 7.5%).

- Months 31-36 : From the day following the end of 30 months period of the warrants until the end of the term of the warrants 36 Month (3 years) (October 18, 2013 - April 17, 2014), the exercise price shall be Baht 68.41 per share (calculated from initial exercise price + 10.0%).

Bualuang Securities

Documents

รอบด้านตลาดหุ้น 24 มกราคม 2557 - Bualuangresearch2.bualuang.co.th/upload/bls140124.pdf · 2014. 1. 24. · รอบด้านตลาดหุ้น