I think you may be both on the money. He has mentioned I think the $6 - 8 per share valuation and with a flourish of his hands he may very well split the 4 divisions and have four IPOs worth that much in Singapore.
Will it work, who knows. But seeking an asian financial hub for a high risk /high reward company may suit the Asian appetite for risk/gamble.
It seems to be the only sensible motivation.