Personally in my experience, I wouldnt think that either of NFC...

Personally in my experience, I wouldnt think that either of NFC or ORD would be contributing toward the IPO.

This looks as if it would be the standard way of raising the cash by a combination of cash from IPO and debt funding.

This will mean an inevitable dilution of the ORD % of SARCO.

It's no big deal.
It happens all the time.

ORD will still have a significant share of a big deal worth many millions

It's all good, no need to worry, just strap in for the ride as ORD gradually gets re-rated on the ASX