"The market cap (share price) of the proposed listing will be...

"The market cap (share price) of the proposed listing will be critical and may provide a step up in the shareprice prior to the demerger as people start putting 1+1 together and realise that the current market cap is only equal to one half (fonda). (ie. minor value on acl onc)"

I think you could be onto someone there higginss. There could very well be a nice rally into the split as the big boys fight for position. Don't assume the market is so inefficient that it won't factor in oncology before the split takes place, particularly when a strong SP prior to it would be in the best interests of this company's top holders...