When I said 10 million dollar raising I meant an IPO.Hence BP...

When I said 10 million dollar raising I meant an IPO.

Hence BP raise 10 million for 50 million in shares and retains half of business effectively 100 million shares on issue and an implied value of $20 million at listing.

That would be roughly a PER of 20 when debt is retired.

So they could effectively quite easily raise more funds on a separate IPO especially in this environment.

I guess this way BP owners retain more control but they could have always jigged the IPO accordingly, e.g raise $5 million for 25% sale.

I am valuing BP at $20 million but most on this forum think $40 million is reasonable to you can double my figures above.