KrisEnergy's warrant a long-dated recovery play

LAST week's feature was the new Duty Free International (DFI) warrant which has a five-year life span, two years more than most others in the market. However, DFI's warrant is not the longest-dated that's available to investors here. That distinction belongs to KrisEnergy's instrument which had a seven-year life span when it was issued in February, which means expiry is in 2024.

This lengthy time left for holders to make money certainly makes it interesting and therefore deserving of a closer look.

The reason for the long tenor is that the warrants were attached to a seven-year note issued by the company as part of a S$139.5 million preferential offering at the end of 2016.