PRG will have in excess of 1,5 billion shares after IPO Persistence plans to offer a total of 500,000,000 Shares (subject to the over-allotment option), of which 450,000,000 are international offer shares (subject to reallocation and the over-allotment option) and 50,000,000 are Hong Kong offer shares (subject to reallocation).
Prior to IPO, PRG had 1 billion shares of which MJS owned 940 m .
Then add incentive options of 100 m .
So, MJS will not own 70,5% of PRG ex IPO..