Stock Warrant，也称“subscription warrant”或“Warrant”，翻译为“认股权证”，又称“认股证”或“权证”，在香港又俗译“窝轮”。是一种约定该证券的持有人可以在规定的某段期间内(通常为5-10年)，有权利（而非义务）按约定价格向发行人购买标的股票的权利凭证。持有该证书的人则称为“warrantholder”。

按照发行主体，Stock Warrant分为股本认股权证（equity warrant）和备兑权证（covered warrant）两种：

股本认股权证（equity warrant）属于狭义的认股权证，是由上市公司发行的。备兑权证（covered warrant）则属于广义认股权证，是由上市公司以外的第三方(一般为证券公司、银行等)发行的，不增加股份公司的股本。上市公司为了获取流通权，向全体流通股东发行流通权凭证。

参考双语例句：

The Board may issue warrants or convertible securities or securities of similar nature conferring the right upon the holders thereof to subscribe for any class of shares or securities in the capital of the Company on such terms as it may from time to time determine.

董事会可发行认股权证或可换股证券或类似性质的证券，以赋予该等权证或证券持有人认购本公司股本中的任何类别之股份或证券，而该等认股权证或证券可按董事会不时决定之条款予以发行。

The said amount in cash which the holder of such warrant is required to pay on exercise of the subscription rights represented thereby (or, as the case may be, the relevant portion thereof in the event of a partial exercise of the subscription rights).

该认股权证的持有人须在行使认购权时支付的现金金额（或（视情况而定）如属部分行使该认购权，该现金金额的相关部分）

Any general meeting declaring a dividend or bonus may direct payment of such dividend or bonus wholly or partly by the distribution of specific assets of any kind of the Company and in particular of paid-up shares, debentures, debenture stock or warrants to subscribed securities of any other company to which the Members are entitled, or in any one or more of such ways, and the Board shall give effect to such resolution; and where any difficulty arises in regard to such distribution, the Board may settle the same as they think 37 expedient, and in particular may issue fractional certificates and fix the value for distribution of such specific assets or any part thereof and may determine that cash payments shall be made to any Members upon the footing of the value so fixed or that fractions of less than one dollar may be disregarded in order to adjust the rights of all parties, and may vest any such cash or specific assets in trustees as may seem expedient to the Board.

在任何宣派股息或红利的股东大会上，可以指示以分发本公司任何种类的特定资产，特别是已缴足股份、公司债券、债权股证或认购各成员有权认购的任何其他公司的证券的认股权证的方 式，或一种或多种以上方式，直接支付该股息或红利的全部或部分，董事会应令该决议生效；而如果在作出分发时产生任何困难，董事会可按他们认为快捷的方式解决之，特别可发行碎股证书及规定分发特定资产或其任何部分的价值，及可决定应按规定的价值向任何成员作出现金付款，或者无须理会少于一元的零碎数额，以调整所有各方的权利，及可在董事会认为快捷下将任何现金或特定资产归属于受托人。