hdr sells eni-agip percentage, page-22

re: retained valuation Bully, i think I see where you are coming from. An arms length, fully informed purchaser enters into transaction that gives an implied value to the HDR retained interest of around $350m.
On my feeble calcs this gives a value of under $1.00 per share cf the current stock price. Begs the question- would a rights issue have been better or do the directors think the stock is worth under a buck?
Tomorrow should be interesting!