I don't know much about the law regarding the requirements for minimum capital reserved. Yet it makes sense that the rules are there. Afterall, they will be supposed to be public listed companies and it would be ridiculous for them to have almost nil capital reserved.
I'm aware that pps now is heavily undervalued. The same guy told me that he calculated that, after dilution, the pps will be aroud 23. Yet he also admitted he's being conservative eg. he use "20 billion" as annual income and PE value 8. IMO, annual income should be at least 30 billion with PE value at least 12. In this circumstance, pps should be at least 35.
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