Replies to post #147861 on Sino Agro Food Inc (fka SIAF)

[RealDutch]

Because the $3.40645 value per TRW share they are using for the distribution is based on Q3/2016, the carve-out date. At the time, SIAF owned 36.6% or 36.6M TRW shares for a total of $124.67M. That was the investment at cost which SIAF booked at the time. They are distributing half, or 18.3M shares, or $62.3M.

Since that time, TRW has made money. SIAF received its fair share of profit, 36.6%. So the investment at cost now for SIAF, as of Q2/2018 is $141,999,564. Almost $18M more.