RE: Question.13 Sep 2025 11:24
It's standard MO
You can make it look like an extra asset, example, owning 20% in a new asset. But the simple fact is that massive economic dilution will have occurred, and market will price it in at some stage, to the same value as direct equity dilution
Plus there are many more parts of the deal, that do have or will have direct or dilutive options.