does anyone understand what this is worth, page-7

and to follow up some news....maybe a cap raising is on the cards...lol

Investment banks Goldman Sachs JBWere, Macquarie Group and UBS are in contention to conduct a rights issue for ports and rail player Asciano Group as part of a recapitalisation initiative. Citigroup analysts forecast on Friday that Asciano’s ratio of net debt to earning before interest tax depreciation and amortisation would be 7.1 times by the end of fiscal 2009. The broker noted that an alternative to a two-for-one rights issue worth $1.05 billion could be the selling of a minority stake in its ports business, sighting a bid from Cosco Pacific for the Piraeus port in Greece for 19 times EBITDA. A Transurban-style cut in dividend payouts may be required for the rights issue, despite the option appearing more favourable. Asciano’s recapitalisation could be targeted at raising more funds to buy FreightLink’s Adelaide to Darwin railway.