That's too simplistic. We do not know who TRW is targeting for the pre-IPO or what the requirements are from the bank underwriting the IPO.
They could sell a 20% stake to companies who do not have a strong wish for a public listing. Most companies are interested in strategic acquisitions, growth, profits, partnerships. And there should be quite a few out there.
It's who they are targeting that I'm questioning. And whether the bank is holding us back.
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