My thoughts and assumptions DYOR.
issue price of 67c for an additional 149m shares, giving FFX total SOI @ 1.2B.
This looks like a technical and strategic raising.-Its a WAR chest
Based on the FFX subscribing for $10m in LEO it therefore means LEO will be raising $50m
working backwards it seems the demerger distribution to shareholders looks like @ 1 new share in LEO for every 1 Held creating 1.2B initial shares on issue for LEO
FFX will own 20% =240m shares
LEO IPO looks likely to raise $50m including $10m from FFX
MA has always said shareholders' will get a priority allocation to the IPO at 1 for every 10 held
Therefore FFX allocation is 24m shares
FFX commitment to LEO IPO is $10m
Therefore the issue price is 41cents per share or thereabouts
LEO market cap =$540m prior to ASX listing (or 45cents)
Shareholder entitlement to Leo Priority shares:
My estimates only: DYOR
100,000 shares in FFX will give you 100,000 free shares in LEO
priority allocation = 10,000 shares in LEO
cost at 41cents = $4,100
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My thoughts and assumptions DYOR. issue price of 67c for an...
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