How to calculate warrant price

let's take YTLPower as example.

e.g.
3 Lots of YTLPower share
= (300x2.61) ( RM2.61, price at 05 May 08)
= 783

1 lot of warrant
= (100 x 0.10)
= 10 ( this is the amount that you need to pay to buy the warrant)

Warrant Exercise price at RM1.25
= (100 x (0.10 + 1.25)
= 135 ( after the warrant expired date, this is the amount that you need to pay to convert to ordinary share)

As long as YTLPower price above RM1.35 then you have make a good deal coz you only spent 1.35 to buy the share which is worth more than that.