If the asset that is burning the hole in the cash is moved to another entity (albeit reducing our % of ownership), then unless there is something else out there saying "buy me" I don't know why they need to raise the cash.
They do not want any more assets at present.
Therefore, I don't think that they are going to issue more equity.
Indeed, I believe that they seriously do not want further dilution, otherwise they would have opted for a dual listing. Instead they opted to choose to list the subsidiary, and agree to sell down our interest in it in order to restore the bank balance.
MPO Price at posting:
91.5¢ Sentiment: Buy Disclosure: Held
