Hasn't it been discussed and confirmed a number of times that the listing of ADR II's on the Nasdaq will not involve a capital raising and/or issue of new shares.
From the keyboard of MR, the ADR II's will comprise 1 to 10 of ASX listed shares.
A capital raising through many different methods will be possible once listing on the Nasdaq has occured. Until then we should not assume and I believe any arrangement organised by MR will be better than what the company had with ST anyway.
This is just speculation about capital raising and dilution.
raising funds via bank of ny mellon, page-21
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