Should management continue with the initial public offering

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Reference no: EM132850268

Question - XYZ Ltd is a family-based private company operating in the pharmaceuticals industry. XYZ's management is planning to expand its operations by raising capital through initial public offerings of 450,000 shares. As XYZ is currently unlisted, management doesn't know its current market price. As a first step of understanding XYZ's relative value, the management is seeking your advice on the matter. The management has considered the following five pharmaceuticals companies from 2019.

Company

Share Price

Shares Outstanding

Book Value

Sales revenue

R&D

Net Earnings

Wipe Corp

3.25

1,950,000

4,890,132

1,450,650

950,726

238,000

Kleen Inc

60.38

145,000

6,220,550

1,090,200

852,980

287,940

Sani Group

25.32

469,500

5,990,000

850,000

469,420

124,000

SA Group

105.29

24,500

589,400

1,650,232

1,150,000

153,920

Blue Crop

15.87

845,670

9,883,260

2,476,000

986,450

328,990

XYZ

?

?

6,750,550

1,500,650

975,000

468,955

Required - Using these numbers:

(i) Calculate relevant multiples.

(ii) Estimate a value for XYZ.

(iii) What should be the value per share of XYZ?

(iv) If XYZ management is hoping for the initial share price to be $35, should management continue with the initial public offering?

(v) What are the limitations of the analysis?

Reference no: EM132850268

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