I am reposting this in the hope of getting some answers or at least some more discussion.
I know I have asked this multiple times but I want to make sure that I am clear. Here is my understanding:
12% or about 1.171 billion euros (~$1.5 billion dollars) is to be raised by private investors. They will buy an unknown number of shares (dependent on the value of the shares). Assuming they are valued at $1 for simplicity that will equal 1.5 billion shares for the ADR. These same investors will be offered warrants to buy 7.33 shares back for the HFSF fund for each new share they subscribe for. Assuming all of these shares are bought back (over the next 54 months or 4.5 years) that is an additional approximately 11 billion shares (1.5 billion times 7.33).
From the above it appears that a total of approximately 12.5 billion new shares of stock will be issued.
The share count will be reduced by a 10 to 1 reverse split. But that is meaningless when calculating market cap. Less