Syrah Resources Limited (ASX:SYR) announced an Extraordinary General Meeting in August to request shareholder approval to demerge its assets through a distribution to shareholders, followed by a listing on the ASX through an IPO of new company Jacana Minerals Limited.

As quoted in the press release:

The expected value of the new company, Jacana Minerals Limited, at listing is expected to be less than $20 million after a proposed raising of about $8 million.

Click here to read the Syrah Resources Limited (ASX:SYR) press release