you will get one oppie for every two shares held, they will cost...

you will get one oppie for every two shares held, they will cost 1c each, and when you wish to exercise, it will cost you 20c. You have over two years to think about it, or trade them.
You can apply for more, but, rarely does anyone get them, any shortfall would likely go to loyal holders fro the ipo.
It would be safe to say, they would list at anywhere from 2c to maybe 6-8 cents, with 4c being a realistic value. Small holders would either hold them, or maybe add a few from on market to make a decent parcel. Remember, given they will likely be already "in the money", they will trade in step with the heads, that is....if the heads go to 25c, then the oppies are worth 5c without taking in to account any time premium....30c will see oppies at 10c, and so on.
Most wouldnt be aware as yet, so, expect the heads to run a bit prior to the "ex" date....just like KRX for example, however, here, being 1 for 2 at ipo price, the built in value to the heads would be 4c or better