Equity valuation : Sotipapier

This dissertation aims to value the equity of a Tunisian company :Sotipapier. As pointed in the corporate finance literature review -under the first section of the dissertation-, distinct valuations methods usually result in different outcomes. In order to increase the robustness of the fair value o...

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Detalhes bibliográficos
Autor principal: Fakhfakh, Mariem (author)
Formato: masterThesis
Idioma:eng
Publicado em: 2017
Assuntos:
Texto completo:http://hdl.handle.net/10400.14/20649
País:Portugal
Oai:oai:repositorio.ucp.pt:10400.14/20649
Descrição
Resumo:This dissertation aims to value the equity of a Tunisian company :Sotipapier. As pointed in the corporate finance literature review -under the first section of the dissertation-, distinct valuations methods usually result in different outcomes. In order to increase the robustness of the fair value of the share price, I use the DCF method as well as the relative valuation approach. Indeed, each method applied generates slightly distinct valuations. Therefore, I Consider an average share price of two approaches that yields a share price of 4.54 TND -for the end of FY 2015 .In a fur-ther step, I compare in the last section the results that I find with a recent valuation of Soti-papier‟s equity performed by KPMG -Tunisia in mid 2015. The comparison highlight a diver-gence of 5.3% that falls within a reasonable margin given the particular context of each valuation.