In case of JV don't you think you just issue fresh shares to JV partner and then they infuse the capital? Why a stock split of unlisted company is needed?
For example, If potential partner wants to buy 40% stake for $800M USD then just issue 3646 additional shares at $219418 USD per share.
Number of current outstanding shares = 5470 (60% of 9116) Plus: new shares to JV Partner = 3646 (40% of 9116) -------------------------------------------------------------- Total Shares 9116
