I doubt the SDG will be privatised for four reasons.1. SDG has...

I doubt the SDG will be privatised for four reasons.
1. SDG has raised capital numerous times, and it has served them to be able to tap the markets to take advantage of opportunities. As a private business it would cost a lot more to raise money.
2. A lot of bigger holders will not be allowed / or not want to invest in illiquid unlisted companies. They would fall below 50% fairly quickly.
3. It will be cheaper for them to buy on the market if they want to increase their stake, than to offer (say) double the current sp to privatise.
4. It is good for their deal-making and public image, dealing with all suppliers, partners, customers, staff, investors, and lenders to be listed, and transparent. Only disadvantage is in dealing with regulatory issues at times.

I'm sure they would love the sp to bounce back to at least NTA, but a buyback sounds much more acheivable and better value to me than privatising, especially if they can buy back at 50% of NTA or less.