if you read it the way i suspect you are they float the new entity but they will have debt to GBE of total float.
unless a price is determined for those assets prior to the float. Still a debt.
Can't see it I see them floating new company with some funds and assets with GBE holders 1 for 1 shares and then they can do as they like with the shares on market. ECE still controls both companies.
Cudeco1 - dyor
Ann: Corporate Restructure and Dual Listing , page-20
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