Poor reporting. It is 1 s2 share for every 2.5 sir share held. This does not work out to be roughly 1 share in s2.
If s2 is a newly created shell, then it would have a issue price of 20c at minimum. If the demand is high on day of listing, then the sky is the limit. It would not surprise me there is news along the way to push this baby. S2, sir all over again.