That's an interesting thought. But wouldn't letting one SOE...

That's an interesting thought. But wouldn't letting one SOE operator come into FLC via a placement reduce the chances of working with the other SOEs? After all, FLC's ambitions stretch across China. It would only make sense if the party is a pan Chinese conglomerate, a Citic Environment for eg with global ambitions. This is because that party must not only want to MABR but wants the rest of FLC's EPC (or CES) global business because I doubt FLC's board will sell MABR segment on a standalone basis just when it is about to take off. Also, FLC's board must find someone friendly to Israel and to the other stakeholder's namely, Ron. The last thing FLC needs is a unruly board who is always in-fighting.

There are a lot of options open to FLC. They could list MABR on China's NASDAQ (https://www.channelnewsasia.com/news/business/frenzied-debut-of-china-s-nasdaq-style-board-adds-us-44b-in-11742670) . But that would require they retain the current China's GM, Yong Jin wong, someone who can traverse between east and west, and give him incentives to take FLC-China to the next leg. But I would think that move would premature because MABR is taking off in Jamaica, as well as ROW. So it's in FLC 's interest to keep it all within one listco at the moment.

Any decision will not be made this year, not until they can sustain EBITDA. Once they can show and prove that EBITDA is sustainable, there are enough suitors in the US and among the Jewish community. I will still place my bets that the parties are US based who are friendly to Ron, and who Ron won't mind diluting himself to, and someone who Ron wants to benefit to gain in a dual listing, if and what that happens.