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Hong Kong Exchanges and Clearing Limited (HKEX) has announced the arrangements for the adjustment to SOHO China Ltd (SOHO China) futures to account for SOHO China’s special interim dividend.
Overview
| Company (Stock Code) | SOHO China (410) |
|---|---|
| Corporate Action | Special Interim Dividend of $0.67741 per share |
| Ex-date | 28 November 2017 |
For details, please refer to the announcement made by SOHO China on 15 November 2017.
Highlights of the adjustment arrangements are set forth below. Investors should consult their brokers for further details, or if they have any questions regarding the adjustment.
SOHO China Futures
Trading Arrangements
The trading arrangements for the existing SOHO China stock futures under trading symbols SOH, SOC and SOD will be as follows:
| 1. | Adjustment and Transfer of Outstanding Positions Open positions of SOHO China stock futures series under trading symbols SOH, SOC and SOD which exist after the market close on the business day immediately before the ex-date will be adjusted and transferred to stock futures series under trading symbols SOB, SOE and SOF respectively. |
| 2. | Introduction of New Stock Futures Series for Trading
On the ex-date, new SOHO China stock futures series based on the standard contract multiplier will be introduced for trading under the standard trading symbol SOH. |
Details of the adjustment procedures for SOHO China stock futures series under trading symbol SOH are as follows:
|
Adjustment Term |
Formula |
Remarks |
|---|---|---|
|
Adjustment Ratio (AR) |
(underlying stock closing price – special interim dividend) / underlying stock closing price |
Rounded to the nearest 4 decimal places |
|
Adjustment Ratio (AR) |
Contracted price of outstanding stock futures series x AR |
Rounded to the nearest 2 decimal places |
|
Adjusted Contract Multiplier (ACM) |
Contracted price of outstanding stock futures series x (10,000 shares / ACP) |
Rounded to the nearest 4 decimal places |
|
Adjustment Term |
Formula |
Remarks |
|---|
|
Contract |
Trading Symbol | Contract Multiplier (Shares) |
Availability For Trading |
Stock Futures Series on and after |
|---|---|---|---|---|
|
Adjusted |
SOB |
ACM |
From ex-date to 28 June 2018 |
No |
|
Standard |
SOH |
10,000 |
From ex-date onwards |
Yes |
|
Contract |
Trading Symbol | Contract Multiplier (Shares) |
Availability For Trading |
Stock Futures Series on and after |
|---|
Details of the adjustment procedures for SOHO China stock futures series under trading symbol SOC are as follows:
|
Adjustment Term |
Formula |
Remarks |
|---|---|---|
|
Adjustment Ratio (AR) |
(underlying stock closing price – special interim dividend) / underlying stock closing price |
Rounded to the nearest 4 decimal places |
|
Adjusted Contracted Price (ACP) |
Contracted price of outstanding stock futures series x AR |
Rounded to the nearest 2 decimal places |
|
Adjusted Contract Multiplier (ACM) |
Contracted price of outstanding stock futures series x (ACM*Note 1 / ACP) |
Rounded to the nearest 4 decimal places |
|
Adjustment Term |
Formula |
Remarks |
|---|
|
Contract |
Trading Symbol | Contract Multiplier (Shares) |
Availability For Trading |
Addition of New Stock Futures Series on and after the ex-date |
|---|---|---|---|---|
|
Adjusted |
SOE |
ACM |
From ex-date to 28 March 2018 |
No |
|
Adjusted |
SOC |
ACM* Note 1 |
Not available for trading from |
No |
|
Contract |
Trading Symbol | Contract Multiplier (Shares) |
Availability For Trading |
Addition of New Stock Futures Series on and after the ex-date |
|---|
Note 1
ACM* are the Adjusted Contract Multiplier generated from capital adjustment made on 29 September 2017 due to the special dividend of $0.41000 per share. Current ACM for the SOC stock futures are：
|
Contract Months |
Adjusted Contract Multiplier |
|---|---|
|
November 2017 |
10,903.0837 |
|
December 2017 |
10,903.0837 |
|
March 2018 |
10,903.0837 |
|
Contract Months |
Adjusted Contract Multiplier |
|---|
For details, please refer to the circular.
Details of the adjustment procedures for SOHO China stock futures series under trading symbol SOD are as follows:
|
Adjustment Term |
Formula |
Remarks |
|---|---|---|
|
Adjustment Ratio (AR) |
(underlying stock closing price – special interim dividend) /underlying stock closing price |
Rounded to the nearest 4 decimal places |
|
Adjusted Contracted Price (ACP) |
Contracted price of outstanding stock futures series x AR |
Rounded to the nearest 2 decimal places |
|
Adjusted Contract Multiplier (ACM) |
Contracted price of outstanding stock futures series x (ACM*Note 2 / ACP) |
Rounded to the nearest 4 decimal places |
|
Adjustment Term |
Formula |
Remarks |
|---|
|
Contract |
Trading Symbol | Contract Multiplier (Shares) |
Availability For Trading |
Addition of New Stock Futures Series on and after the ex-date |
|---|---|---|---|---|
|
Adjusted |
SOF |
ACM |
From ex-date to 28 December 2017 |
No |
|
Adjusted |
SOD |
ACM* Note 2 |
Not available for trading from ex-date onwards |
No |
|
Contract |
Trading Symbol | Contract Multiplier (Shares) |
Availability For Trading |
Addition of New Stock Futures Series on and after the ex-date |
|---|
Note 2
ACM* are the Adjusted Contract Multiplier generated from capital adjustment made on 29 September 2017 due to the special dividend of $0.41000 per share. Current ACM for the SOD stock futures are：
|
Contract Months |
Adjusted Contract Multiplier |
|---|---|
|
December 2017 |
11,942.7420 |
|
Contract Months |
Adjusted Contract Multiplier |
|---|
For details, please refer to the circular.
Investors should note that the adjusted and standard stock futures series have different contract multipliers. There will not be any changes to the number of open positions and other contract terms after the transfer of positions.
For detailed trading and clearing arrangements, please refer to the circular.
