Honest curiosity about TRP

$TC Energy Corp(TRP.CA)$ Given the upcoming spinoff, from what I gather there will be TRP (old) for gas pipelines & SouthBow (new) for liquid pipelines.
I understand the ratios of stocks in SouthBow per share TRP hasn’t been released but assuming 1:1 I am interested in hearing what might be keeping people away from hoarding TRP now while relatively low?