Ok bad wording on my part (to mention entire float), but reading...

Ok bad wording on my part (to mention entire float), but reading between the lines it should have been obvious I have been talking about amount due to MCT (and by extension, investors). It is this amount I consider excessive, and by no means on the low side.

To be crystal clear, let's suppose the entire IPO was for $1bn, while MCT received the same $24m. $1bn is a big float.. maybe some would think it fair enough for directors to enjoy, say, 2% of that ($20m), while investors get $24m? I don't think that's fair at all. Directors are getting an outsize return compared to current MCT investors, that's what bothers me.

It would be like BHP spinning off a $25m asset, with directors taking a $2m bonus for facilitating the transaction, and someone arguing that it's on the low side. No it's not on the low side, it's rather generous when the performance bonus is in the high single digits (percent) of the transaction size.