WFD 0.00% $8.84 westfield corporation

I,m confused! Round figures current MC is about B$18. MC...

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    I,m confused! Round figures current MC is about B$18. MC valuation at TO is stated at B$32. Ratio 1.77. Do holders get 1.77 x current share price. Clearly no but why B$32MC?
 
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Currently unlisted public company.

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