I don't think they will grow that fast that early, and I think the IPO will be delayed by a year.
It's rather obvious what the purpose is of the carve-outs. 1) Get a return to shareholders in a relatively short amount of time (less than 2 years). 2) Fetch a high price and have that value reflected in SIAF stock.
Solomon is targeting a $3B market cap for SIAF the holding company by 2020 IIRC. And that's exactly what I'm thinking.
We could have a situation where you will only get $8 for your Triway dividend stock (sold to pre-IPO investors in 2018). But 2 years later Triway will fetch a P/E of 50 in Hong Kong. Half of that value will be reflected in SIAF the holding company. Which is still a P/E of 25. That's how you get to $3B by 2020, or $120/share.