Hi Chawkey,
Don't think those numbers are right. The $600m figure includes debt funding. Debts will need to be repaid first. More conservative would be:
IPO of 66.5% interest (100% - 16.75 x 2) to get $200m. Therefore, MV of shares would be 200m / 66.5% = 300.
ORD share is 300 x 16.75% = 50.25m / 473m shares= 10.5c.
psyber.
