Hate to be the naysayer here, but the two reasons why this...

Hate to be the naysayer here, but the two reasons why this shouldn't trade at 70 cents just yet are:

1) Not every float closes successfully just because there is a prospectus with a price range in the market. And given that ACL would be a bit stretched cashflow-wise without a successful Audeo float, you wouldn't want to apply a 100% probability to a successful float until it is done.

2) There's also still a fair bit of ambiguity over what peak cashflow from fonda will be & how many years fonda will be a strong revenue earner. Therefore, market may not value this side of the business as high as some on this thread would like to see just yet either.

Based on what we know today - I think ACL is good buying up to 60 cents. And that a successful demerger & float of audeo should deliver 75 cents + in aggregate in the near term.