audeo indicative ipo pricing is now public, page-16

Hi Neo, I've been playing around with numbers just like you and came with much the same conclusion and compelling story. I used the total number of oncology shares likely to be out there (excluding over allocation) i.e. 10,842,020m and then used $14 and $16 in Aussie dollars and came up with a total capitalisation of $173m and $152m respectively. I had current ACL holders share at 70% giving a value of $121m and $106m to the oncology asset and then subtracted that from the current capitalisation of ACL of 153m which then valued fonda at $32m (11.5 cents a share) or $47m (17cents a share). I have used the number of 280m as the total number of ACL shares for this calculation.

All sounds too good to be true!