FEC Resources Inc. (FECOF)

[styl]

The company’s final prospectus showed that the listing price of the 1.70 billion shares that would be registered at the local bourse was pegged at P1.20 each. Manuel Pangilinan, chairman of Philex Mining Corp., earlier said the initial listing price was set at P1.30. Listing of the shares is scheduled on September 12.

according to the converter i used...1.2 philipines pessos is equal to .02831 us dollars.........which with 1.7 billion shares..........would mean that this market cap is set to begin at 48 million us market cap for PPC..........either that or I shouldnt be using pessos?? any confirmation or feedback on my math would be appreciated.thanks.

if its correct.....then the assumption that a good chunk of it is because of fep ownership.....then this will help fecof catch up/move up in fair valuation.