How much MNS worth without Tesla deal, page-21

The one other thing I should have noted in the above is that the Corporate Connect NPV valuation of 61% of iM3NY at $1,074m (Phase 1) is lower than the value of that implied by the "as is" US$1,500m value HSBC is reportedly using for its current equity / JV expansion capital raise discussions.

61% x US$1,500m = US$915m = A$1,325m (about $1.21 per share) value for MNS shareholding in iM3NY based on the reported HSBC figure.