Penilaian PT Megapolitan Development Dalam Rangka Initial Public Offering (IPO) Tahun 2011
The objective of this research was to estimate instrinsic equity value of PT Megapolitan Development associated with Initial Public Offering (IPO) in 2011 using two approaches, income approach and market data approaches. The data observed in this research consists of financial statements , the infor...
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| Format: | Thesis |
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[Yogyakarta] : Universitas Gadjah Mada
2011
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| _version_ | 1797030802698010624 |
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| author | , Mohammad Muntahar Afif , Dr. Mamduh Mahmadah Hanafi, M.B.A |
| author_facet | , Mohammad Muntahar Afif , Dr. Mamduh Mahmadah Hanafi, M.B.A |
| author_sort | , Mohammad Muntahar Afif |
| collection | UGM |
| description | The objective of this research was to estimate instrinsic equity value of PT
Megapolitan Development associated with Initial Public Offering (IPO) in 2011
using two approaches, income approach and market data approaches.
The data observed in this research consists of financial statements , the
information contained in the annual report PT Megapolitan Development in 2010,
comparable companies financial statements in 2010, stock price, risk free rate and
other supporting data.
The Analysis in Discounted Cash Flow (DCF) method, it started with
forecasting financial statements based on estimates of net sales growth rate which
followed by calculation free cash flow. The calculating discount rate based on risk
free interest rate 6,50 percent, Market Risk Premium (MRP) 7 percent, the β
0,844, cost of debt 8,81 percent, and 41,72 percent debt ratio. The discount rate
used to be a total free cash flow into present value. Analysis using relative
valuation method begins by determining comparison companies on the industry,
followed by choosing and determining multiplies which will be used to converse
the book value of the relevant variables from the PT Megapolitan Development to
be estimate of market value of equity. The multiplies used are PER (Price Earning
Ratio), P/S (Sales Price) and PBV (Price to Book Value).
The results of the research show that its estimated intrinsic value of the equity
of PT Megapolitan Development, using the income approach on 31 December
2010 was Rp225,15 per share, and the fair market value based on market data
approach for Rp215,55. Reconciliation based on average of two approaches
produced the fair market value of the shares of PT Megapolitan Development of
Rp220,35. |
| first_indexed | 2024-03-13T22:11:32Z |
| format | Thesis |
| id | oai:generic.eprints.org:90781 |
| institution | Universiti Gadjah Mada |
| last_indexed | 2024-03-13T22:11:32Z |
| publishDate | 2011 |
| publisher | [Yogyakarta] : Universitas Gadjah Mada |
| record_format | dspace |
| spelling | oai:generic.eprints.org:907812014-08-20T02:52:45Z https://repository.ugm.ac.id/90781/ Penilaian PT Megapolitan Development Dalam Rangka Initial Public Offering (IPO) Tahun 2011 , Mohammad Muntahar Afif , Dr. Mamduh Mahmadah Hanafi, M.B.A ETD The objective of this research was to estimate instrinsic equity value of PT Megapolitan Development associated with Initial Public Offering (IPO) in 2011 using two approaches, income approach and market data approaches. The data observed in this research consists of financial statements , the information contained in the annual report PT Megapolitan Development in 2010, comparable companies financial statements in 2010, stock price, risk free rate and other supporting data. The Analysis in Discounted Cash Flow (DCF) method, it started with forecasting financial statements based on estimates of net sales growth rate which followed by calculation free cash flow. The calculating discount rate based on risk free interest rate 6,50 percent, Market Risk Premium (MRP) 7 percent, the β 0,844, cost of debt 8,81 percent, and 41,72 percent debt ratio. The discount rate used to be a total free cash flow into present value. Analysis using relative valuation method begins by determining comparison companies on the industry, followed by choosing and determining multiplies which will be used to converse the book value of the relevant variables from the PT Megapolitan Development to be estimate of market value of equity. The multiplies used are PER (Price Earning Ratio), P/S (Sales Price) and PBV (Price to Book Value). The results of the research show that its estimated intrinsic value of the equity of PT Megapolitan Development, using the income approach on 31 December 2010 was Rp225,15 per share, and the fair market value based on market data approach for Rp215,55. Reconciliation based on average of two approaches produced the fair market value of the shares of PT Megapolitan Development of Rp220,35. [Yogyakarta] : Universitas Gadjah Mada 2011 Thesis NonPeerReviewed , Mohammad Muntahar Afif and , Dr. Mamduh Mahmadah Hanafi, M.B.A (2011) Penilaian PT Megapolitan Development Dalam Rangka Initial Public Offering (IPO) Tahun 2011. UNSPECIFIED thesis, UNSPECIFIED. http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=53292 |
| spellingShingle | ETD , Mohammad Muntahar Afif , Dr. Mamduh Mahmadah Hanafi, M.B.A Penilaian PT Megapolitan Development Dalam Rangka Initial Public Offering (IPO) Tahun 2011 |
| title | Penilaian PT
Megapolitan Development Dalam Rangka Initial Public Offering (IPO)
Tahun 2011 |
| title_full | Penilaian PT
Megapolitan Development Dalam Rangka Initial Public Offering (IPO)
Tahun 2011 |
| title_fullStr | Penilaian PT
Megapolitan Development Dalam Rangka Initial Public Offering (IPO)
Tahun 2011 |
| title_full_unstemmed | Penilaian PT
Megapolitan Development Dalam Rangka Initial Public Offering (IPO)
Tahun 2011 |
| title_short | Penilaian PT
Megapolitan Development Dalam Rangka Initial Public Offering (IPO)
Tahun 2011 |
| title_sort | penilaian pt megapolitan development dalam rangka initial public offering ipo tahun 2011 |
| topic | ETD |
| work_keys_str_mv | AT mohammadmuntaharafif penilaianptmegapolitandevelopmentdalamrangkainitialpublicofferingipotahun2011 AT drmamduhmahmadahhanafimba penilaianptmegapolitandevelopmentdalamrangkainitialpublicofferingipotahun2011 |