The advantage of listing CA is they own 100% of it so it would be simpler/faster, but why list CA in the first place? I'm skeptical about any CA listing in the near future. I would much prefer they simply pay out the cashflow from CA as a quarterly cash dividend through SIAF. I assume if they retain half the ownership like with Tri-way, SIAF could still pay out a dividend through CA cashflow but still..
I am not sure what your view is but it seems like Solomon is leaning towards buybacks (which I understand and think will still be effective) but I think quarterly cash dividends will be more effective in terms of attracting and retaining institutional capital within the U.S. as well as ultimately resulting in a higher share price.