This is how you could get to SIAF's 37% stake in Triway.
Triway NTA = $293M
SIAF brings to the table - $41M deposited for future acquisitions - $28M advanced to developers - $20M? from owning 75% of FF1 - $20M? other advancements or loans
Total $109M or 37% The JV partners own the other 63%. But then came along the 32%-investors and they paid $93.8M to the JV partners for a 32% stake.
Theoretically, if SIAF can get a $93.8M loan then they could take the whole 32%. And 32% + 19% = 51%. What a coincidence
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.