KPC Book Value & Peer Comparison, page-6

As far as Book Value goes, the inclusion of Satimola would mean the following:

Net Assets increase by $150m (the purchase price, and hence accounting value of the asset)
Liabilities would increase by $140m (the balance to be paid to conclude the acquisition)

so

Net tengible assets would increase by $10m ($150m-$140m) to $334,114,193 ($324,114,193 + $10m).

BV/share would increase to 71c (i.e. theoretical liquidation value per share)

At the current SP, price/BV would be 0.275.

I expect though, that completion of the Satimola acquisition would lead to a sharp and significant price increase, which would lead to the price/BV being well north of it's current 'undervalued' level...