Ann: Funding Round for Green Pig Iron Project in Saudi Arabia, page-41

The raising for MGU is really a side show to the main game - it’s essentially a raising for Midmetal, somewhat akin to an IPO for that entity, investors would be backing a company planned to be 50% funded by Saudi gov and partly owned by MGU, they won’t be backing MGU…but at the same time, they’ll get some shares in MGU too, but MGU’s market cap really means little here and they’d be seen as bonus shares really.. as indicated by the raise price..no investor would pay that price for MGU on its own, but hey if you help fund this Saudi plant you’ll get a few MGU too.