why do people keep saying .8 shares of triway for each share of siaf? triway has 100m shares and we have 36.6, there are roughly 19m siaf shares that are not collateral. this suggests 1.92 triway for each siaf, so close to 2. where is my math wrong?
for example on net income of 40m at triway, we would get .40 cents per share, .20 cents approx would go to siaf book and another would go .20 would go to triway book which we would directly own.
this do3snt count ecab conversion but they convert at much higher prices, even then it's like 10% dilution
???
