will we see prices above 10c?, page-18

Wasa,
We really don't know how the market will value Mega's assets
(intellectual & otherwise) & how much cash Mega can raise.
Uley's contribution to the larger vehicle has been set at $70m....Then comes Mega's contribution (they probably think they are worth as much ,if not more).....Then comes the cash raise.....It will be those people paying up for their share(i.e. the market) who will decide the ultimate MC of the new vehicle.
They can not compromise our value & they will certainly not pay a too expensive price for their share.....Mega will have to compromise their own worth.
It just sounds rather exuberant to start public life with an MC of $210m.
If the market is comfortable with $70m earmarked for Uley & another $70m for Mega & happy to pay another $70m for its share,we will have this handsome MC of $210m.
If not,some "trimming" will be made to Mega's share & the amount of cash to be raised. SER will end up with a bigger share but not 100% (it will be too greedy)
As to your 2nd question:
SER's MC post the demerger should be around $20m i.e. 5-6c/share (provided that the IPO goes as planned)