4.13.2018 FECOF Valuation
Close on the Philippines stock market 15.98
15.98*1,700,000,000=28,424,000,000 PESO or $516,154,000
$516,154,000*87%=$449,053,980 valuation of 72.18% of FEL
$469,848,720/72.18%=$622,130,756 valuation of 100% of FEL
$650,940,315*6.8%=$42,304,891 valuation of 6.8% of FEL
$44,263,941/409,000,000=
$0.103/share