@Bushmanpat I had the same question but reading between the lines I think Shaun has said as much as he can at this stage.
For Zameen, this decision is out of his hands as the fate of his 30% minority holding will be up to the other 70% owner's parent EMPG decision on their IPO of the whole business - of which Zameen is just one piece.
That said, Zameen was always the most promising piece but with the LATAM segment moving to 100% ownership and the new management structure in place, LATAM could well be worth more than Zameen before too long.
For LATAM's potential IPO, FDV are in the drivers seat as they 100% own that piece which they are now 'corporatising' to maximise internal cost benefits and external interest. Their announcement to the ASX on this was very promising but they did stress they there may not be a transaction out of this initiative.
If I had to guess I would say it's very market dependent. FDV have incentivised the new LATAM management to get revenues up about 3x to US$100m. If this can be achieved in the coming years and markets are stable / paying for longer term value this opportunity will probably create itself. So FDV have really just positioned themselves for this possibility now while there is no chance of a good transaction so come the time they can take advantage if the stars align.
@reddogaustin and @Strawman write ups covered the key points from the meeting very succinctly.
This meeting only reinforced my thinking that Shaun is a class act, aligned with shareholders, has a proven track record of execution on a proven business model. Although I am likely biased as this is a top 5 holing for me. That said, it will likely require a fair bit more patience yet.
Disc: Held.