"Will there be any new share issuance at FN listing?"
Not that we know of at present but SIAF are using an unorthodox way of equity financing as far as to what swedes are used to so its real hard to say. Think its rather unusual to most U.S investors aswell even though its supposedly an obscure old OTC rule allowing it due to rumour.
What one could and should are quite possibly to calculate towards the Authorized shares wich so far for the year are limited to 130m shares. Outstanding shares are last known numbers at ~100m shares approx think they´ve got a note at investorsection at their homesite not sure its fully updated though.
To determine the EPS wich in theory ought to point PPS somewhat(wich it doesn´t sofar:-)) its calculated towards weighted average shares by yearend and that number i´m not sure about maybe someone at the board are able to help you with it though, but what it in essence means are that nomatter if the shares are at a considerable higher amount on paper it doesn´t affect EPS fully atleast not immidiatly. It does however affect your own forecasts considerably a couple of years further out.
SIAF are usually issuing new shares by using them for purchases and payments of services and probably JV parts if i got it right, there are sec filings telling amounts and some information was in the shareholderletter aswell i havn´t had time to dig fully into it yet myself.
They do so freely when need arises so we are not told about it until next Quarterly report usually. In reality the outcome are no different to an offensive NE for aqucissions apart from that it actually saves us a few of the disadvatages with a swedish conterpart aswell as creating a few cons of uncertainties that also affects pps.
In a way i wish we had that setup in sweden aswell in companies not overdoing equity financing its really a blessing not giving traders 1up on when price are likely to fall so they shortsell equity to death due to it, in SIAFs case its not that funny due to their overexcessive reliance of equity financing though.
As bad as this might seem to many swedish investors cause it really looks to us as if they are selling shares under the table through the kitchen backdoor in the dark without telling their owners, one have to remember that the swedish way of doing a NE will probably look real crazy to most U.S investors aswell i imagine that if it was ever a equity financing done as we do in sweden most americans would end up suing the comapny for malpractice :-)Regards.