A 51% Thai IPO would be awesome, as it would immediately reveal how BS Kingsgate’s SP is as it would automatically value Kingsgate’s holding at 49% of the value of the listed entity. No ambiguity, Level 1 fair value hierarchy, pure and simple.
The predators out there can then try to talk down the remaining outstanding items like royalties, financing etc. TAFTA guarantees all this, and they know it. They wouldn’t be here otherwise. $4 party is likely the dress rehearsal to the $8 party. Still wouldn’t be surprised if we get a low-ball takeover offer before 30 June.
A 51% Thai IPO would be awesome, as it would immediately reveal...
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