To make it equitable, CNP would have to dilute CER by about 8 times in order to award CNP holders 8 more shares of the new entity, Now I'm not a maths wizz and maybe I'm wrong but if CNP SP was $10 and CER was $2, doesn't the above make sense?
Now this is not taking into account CNP's 51% ownership of CER anyway.
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any chance the 1.1 billion is built in already, page-24
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