I wouldn't worry about valuation on EBIT at this stage.
The market will value EMC on future earnings capabilities years away from here. The market is looking at what percentage of the minimum US$20 billion in product sales in China we will be able to grab. Then the market will also be looking at what sales we can grab in the rest of the world. And then the market will be looking at how much WAAS we can obtain.
All this will value EMC much higher in coming months.
Also, with comparative takeover prices of water technology companies they are being taken over as a big multiple of sales and not EBIT. Thats the end game here I believe. We would be on the radar of a lot of large players.
Given the size of this raising and the type of funds coming on board we could be looking at an LNG style of run that happened a couple of years ago but much more sustainable.
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