FAIR VALUE VALUATION OF PT. PERKEBUNAN NUSANTARA IV IN FACING THE IPO PLAN IN 2020 USING THE FREE CASH FLOW TO FIRM METHOD
This study discusses the valuation of PT. Perkebunan Nusantara IV which plans to conduct an IPO in 2020. The purpose of this IPO is to expand the company's business. The purpose of this thesis is to calculate the valuation of the company which in the future aims to determine the initial share p...
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| Format: | Theses |
| Language: | Indonesia |
| Online Access: | https://digilib.itb.ac.id/gdl/view/54964 |
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| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | This study discusses the valuation of PT. Perkebunan Nusantara IV which plans to conduct an IPO in 2020. The purpose of this IPO is to expand the company's business. The purpose of this thesis is to calculate the valuation of the company which in the future aims to determine the initial share price of PT. Perkebunan Nusantara IV at the time of carrying out an IPO. This study uses top-down analysis, which discusses macroeconomic conditions, industrial analysis, and microeconomic conditions, namely company analysis. Then an analysis of the company's financial statements is carried out for the past four years, from 2016 to 2019. From all of these analyzes, the authors can make the assumptions needed in preparing the projections of the financial statements, both balance sheet and profit and loss statement in ten years. forward. The projection of financial statements is used to calculate the projection of free cash flow to the firm (FCFF) from 2020 to 2028, and by using the Discounted Cash Flow Valuation (DCF) method, the value of the firm PT. Perkebunan Nusantara IV, amounting to IDR 256.914.804.960.726. |
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