So after the IPO, you think it would be trading around those numbers you mentioned above? Like I said, those numbers only has something to do with what TRW owns and not necessarily with what its intrinsic value. SIAF has 800M+ worth of assets, look where it is trading now. You wanna know why? Although it might have $800+ "worth of assets", only a fraction of it are producing, in other words, it has very low return on investment capital. Therefore, it is wrong to assume that just because TRW costs 390M+, it doesn't necessarily mean the market would value it as such. Unless you can convert those stock dividends to cash instead, those numbers you mentioned above are redundant.