Yes IPO will be valued at multiples of current share price and yes capital return to shareholders. The timeframe to formalise the doubling of the Chatree resource/reserve may need to take place once they're given permission to access to already targeted areas to then drill out. Whether RSK is happy with just doubling it remains to be seen.
I also understand it will likely mean that 51% of Akara (majority) is offered (as required under Thai law). As Oldfolk noted it may also include other assets (SPLs) held under other subsidies so it may require a new umbrella entity. This makes sense to me to monetise it all in one go to give the IPO the biggest potential valuation upside on listing.
The IPO process itself is also likely to draw out certain parties interested in the entire asset post a political settlement.
Ann: Thailand Update, page-204
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