How a demerger and IPO affects existing shareholders

Since the announcement of TO being appointed as CEO on the 11th Feb when this below was mentioned

Liontown’s Chairman, Mr Tim Goyder, said:
“As Liontown transitions into a development company, we will give consideration as to the best pathway to maximise the value of these growth assets, including a possible demerger and IPO of our exploration assets outside of Kathleen Valley.”

there has been a few of the same questions asked in various threads in regards to the demerger and new IPO and how it affects existing shareholders.

Perhaps some knowledgeable people out there could let everyone know here how a possible demerger might go down if it happens and what's involved. That way the same question won't be asked over and over again in different threads.

I'm also interested and have no idea myself...

Just a thought..