agree completely. Of course Penser bank may want to see a swedish listing first before approving the deal. Who really wants to underwrite a bond to a OTCBB stock? But that's fine with us as we are hoping to see the FN listing happen first and lift the PPS before terms of the bond are negotiated as I pointed out recently. But the question I raised today is whether the listing itself pre-requires a bond with a swedish bank to be approved or at least applied for (ie. linked the other way) and I donot see a reason for that.
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