ANALISIS HARGA SAHAM PENAWARAN PUBLIK PT. HD FINANCE BERDASARKAN METODE DISCOUNTED CASH FLOW

• Main Authors: , Njauw Vidy Onadi, , Boyke R. Purnomo, S.E., M.M.
• Format: Theses and Dissertations NonPeerReviewed
• Published: [Yogyakarta] : Universitas Gadjah Mada 2012
• Subjects: ETD
• Online Access: https://repository.ugm.ac.id/99706/; http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=55858
• Institution: Universitas Gadjah Mada

HD Finance is an independent Multifinance Company in affiliation with Orang Tua Group. HD Finance is predicted benefit from a strong motorcycle sales growth and higher penetration of motorcycle financing in Indonesia, as Indonesia has become one of the hottest motorcycle market in the world. In 2010, Motorcycle sales reached 7.4mn or 25.8% in 2010 and 8.4mn or 14.6% in 2011, while motorcycle purchasing through financing is predicted to reach 80% of the total sales. This thesis try to calculate the value of the IPO share price of HD Finance IPO based on Discounted Cash Flow to determine whether it is overvalued or undervalued. The data used in this stock valuation are obtained from several sources including, but not limited to, HD Finance Tbk�s audited reports year 2010, 2009, 2008 and 2007, HD Finance prospectus report and public expose materials, IDX monthly statistics and other sources found on the internet. All the data used in this thesis is publicly available to shows that regular investor can use Discounted Cash Flow to valuate a intrinsic price of a stock. The valuations value the IPO share price above Rp. 200 per share, which is HD Finance�s IPO Price. The valuation result price is Rp. 268 per share. This concluded that the IPO share price was undervalued.