EVALUASI NILAI PASAR WAJAR SAHAM PT MULTIPOLAR TECHNOLOGY TBK PADA SAAT IPO TAHUN 2013
| Main Authors: | , PETRUS SUWARDI, , Prof. Eduardus Tandelilin, M.B.A., Ph.D. |
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| Format: | Thesis NonPeerReviewed |
| Terbitan: |
[Yogyakarta] : Universitas Gadjah Mada
, 2014
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| Subjects: | |
| Online Access: |
https://repository.ugm.ac.id/130362/ http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=70783 |
Daftar Isi:
- PT Multipolar Technology Tbk to obtain funds in order to strengthen the capital structure and for company�s bussines exspantion implement its initial public offering on July 8, 2013 . This study aimed to evaluate the fair market value of the shares of PT Multipolar Technology Tbk. for comparison over the stock price at the initial public offering (IPO) and to determine The IPO's condition and during this time is undervalued , overvalued or balance as the basis for analysis cause of the increase in stock price of PT Multipolar Technology Tbk since the first day trading at the Indonesia Stock Exchange. The fair market value of the shares of PT Multipolar Technology Tbk was obtained by using the discounted cash flow � cash flow to equity model and relative valuation model with multiple PER (Price to Earning Ratio) , PBV (Price to Book Value) and P/S (Price to Sale Ratio) . The fair market value of these shares may be used as a comparison to the initial public offering price offered to the public and can be used by investors to consideration if want to conduct transactions related to shares of PT Multipolar Technology Tbk. The data examined in this study is the financial statements and other information contained in annual report and in the prospectus of PT Multipolar Technology Tbk., financial statements of comparison companies, the share price of PT Multipolar Technology Tbk., the share price of comparison companies, and the stock price index. The method of analysis used to determining the fair market value of the shares is a method of DCF-free cash flow to equity model and relative valuation. The results in fair market value of the shares of PT Multipolar Technology Tbk as at December 31, 2013 is Rp944,91. The fair market value per share at the time of the IPO July 8, 2013 are in the range between Rp811,36 up to Rp942,94 with the initial public offering price fixing Rp480, is undervalued , while the fair market value per share March 31, 2014 are in the range of values between Rp907,17 up to Rp1.054,28 with the market price at Rp1.015 is to be in balance. Keywords : fair market value, the initial public offering , discounted cash flow-free cash flow to equity model , relative valuation , undervalued , overvalued