I hadn't really thought about what the IPO means for existing shareholders, other than bringing in Thai equity holders who will help reduce the sovereign risk. So what you're saying is we're effectively looking at a doubling of our money at the IPO price (likely much higher than $1.60) through either a direct allocation of shares or more likely capital return to go spend on whatever we desire? And that's if we avoid a takeover before?
It made me think about what "support" for the proposed IPO from the Thai Government actually means. At first, I just read it to mean "streamline approvals" but now I'm wondering if it actually means "participate/underwrite".
Ann: Thailand Update, page-191
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