Posted by Jay > 2016-11-08 09:56 | Report Abuse

unfortunately SPE construction works cannot wait, so the equity injection is necessary now. any listing ideally should be done when it's achieve certain traffic volume to get good valuations. highways are not great growth stocks so no point listing based on growth prospects. my guess is at least 3 years down the road when Duke 2 is also EBITDA positive. then maybe earliest listing by 2020. SPE can be injected later maybe after 2022