I don't think we should assume that SIAF will retain a 36.6% stake in TRW post distribution. So far we have no indications of that besides a badly worded news release.
If we are to speculate about that possibility, do you think SIAF will distribute another 9.15% of TRW? (i.e a total of 27.45% of the 36.6%+18.3%=54.9%)
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