HTA 0.00% 2.8¢ hutchison telecommunications (australia) limited

So based on some basic calculation and I'm happy to be corrected...

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    So based on some basic calculation and I'm happy to be corrected if I'm wrong here. This should have a market cap of $2.815B given its roughly 25% ownership of TPG.

    Is this so in the dumps because retail shareholders only represent ~3% of the roster leading to non-existent liquidity or is there another reason?
 
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