If the JBFG valuation is overblown and this goes ahead, it will be JBL left holding the can, not HML. I think a lot of HML holders will be happy for the unlisted portion of the portfolio to go down, although to me this is a clear example of how you can make more money in the unlisted space if you do it well, it's just that you get a lot of questions, re: valuations. The timing of the ASX price query and this announcement is 'interesting', though. But I'd be more worried as a JBL holder than a HML holder.
Ah well I sold a small parcel at $2.19 to rebalance my portfolio. Originally bought at $1.40. Not bad. And it's down at $1.98 now as people digest it...
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