An example might be the difficulties around whether to float a business as a path to expansion.

He has never needed to float a business to realise value, he says, and is wary of becoming accountable to outside interest.

He says it makes good sense to float a business if it can prove its viability and this is happening in the leisure industry.

say we are going to float a business

But floating a business is a time consuming and difficult operation and running two IPOs at the same time is likely to be challenging.

And on Tuesday, some of the biggest investors in Bitcoin, the Winklevoss brothers of Facebook fame, have announced plans to float a business based on the virtual currency.

The revelations come as RBS tries to sell off or float a business containing more than 300 branches, one of the conditions imposed by European regulators following the state aid it received in 2008.

Yanzhou Coal Mining said it would consider floating a business containing all of its Australian assets if the country’s foreign investment regulator approved the Chinese group’s A$3.5bn (US$3.1bn) takeover of Felix Resources.

59 If the layering stage has been successful, then the proceeds are integrated back into the economy, giving the appearance of legitimate funds. This can be done, for example, by setting up a portfolio of apparently legitimate investments, or by acquiring or floating a business.