at what level can we expect the cap raise?, page-81

fge will need to be recapitalised enough to cover losses, forseeable working capital requirements for new jobs ( because bank guarantees / insurance bonds just got a lot more difficult to get )

any insto will also want to know when divies can restart.

plus prospectus will need to show any problem no matter how small with all existing jobs. confession time could bring a few other niggling issues out that would ordinarily be swept inder the carpet.

will also need to see if goodwill is fairly valued. how much is the power divisions goodwill on the books. what really could you sell it for now, or value on future cashflows for. existing contracts. any writedown here could potentially effect banking covenants.

so imho , it will be a fairly serious chunk of change that they will be after, and it is a buyers market at present. compounding this is that a few larger shareholders ( fund managers ) would be smarting after participating in CLO selldown in march and would be somewhat displeased with recent revelations , to put it mildly.

bottom line, i see this as somewhere between 20c and $1.00 , and closer to the midpoint. prospectus will be a fun read.