$1.5 billion financing over 25 monthsThe short-term prospectus is open for 25 months. The financing is probably going to be a mixture of subordinated shares (1 vote) possibly with an attached warrant as a sweetener, preferred shares and debt. Currently on the books is a debt of $400 million to a Canadian bank that matures in 7 months. Assume 1/3 each that means an equity financing of USD $500 million. This is the overhang that pressures the stock down. There is no clarity when this financing will take place and this lack of clarity adds to the pressure. The fact that the co. wishes to raise $1.5 billion leads one to believe that the co. has a number of candidates in mind. All this to say that the price of FIH.U will probably not move very much in the near term.
Patience is required on this one.
Maldoror