TUPAC wrote:they are not lying.they are ignorant.if the prefs were converted 1:1 then i think the gov. would have over 99 per cent shareholding before rights and not 75 per cent. do some quick maths.
There are 79M total issued shares. 1:1 conversion ratio would mean the government gets an additional 79M shares. At the moment it has 40%, i.e. 31.6M shares (79*.4)
So after the conversion, the government's stake will be (79+31.6)/(79+79), which is about 70%.