Is it likely that they will do an equity stake 70/30 for PSD?
Personally I wouldn’t mind it for the reason it’s a much quicker way for the share market to revalue the stock price for example if equity partners are willing to stump up $1bn in stages to secure 30% then it’s reasonable that Seafarms value of the project is worth $2bn for example.
With debt financing always hard to know how the market will value a project. Any finance to begin stage one is surely major for the share price in any event.
More steps (are we there yet?), page-35
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