In case of JV don't you think you just issue fresh shares to JV partner and then they infuse the capital?
Why a stock split of unlisted company is needed?
For example, If potential partner wants to buy 40% stake for $800M USD then just issue 3646 additional shares at $219418 USD per share.
Number of current outstanding shares = 5470 (60% of 9116)
Plus: new shares to JV Partner = 3646 (40% of 9116)
--------------------------------------------------------------
Total Shares 9116
Issue price to JV Partner = 800M / 3646 shares.
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