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Equity valuation of CTT: an analysis before and after the IPO

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Resumo:CTT – Correios de Portugal S.A. is one of the most important companies in Portugal. With the recent privatization, people fear that the company has been sold only to meet a specific need of cash by the Portuguese Government and that the public service may be affected. It is in this context that arises the need to evaluate the company in order to verify if the sale price was a fair price for both parts in the deal. To do this evaluation it will be applied the most used approaches by financial analysts such as Discounted Cash Flow models and Multiples approach. In addition, it will be analyzed the value of the company one year later to its sale and verify if the company appreciated or devalued with its entry on the stock market. With this result, a recommendation will be given to investors for the attitude that must be taken into account about the possible future behavior of the share price in the market.
Autores principais:Domingos, Ana Rita Fontinha da Silva
Assunto:Privatization Corporate valuation Discounted cash Flow models Multiples approach Privatização Avaliação de empresas Modelos de fluxos de caixa descontados Múltiplos
Ano:2015
País:Portugal
Tipo de documento:dissertação de mestrado
Tipo de acesso:acesso restrito
Instituição associada:ISCTE
Idioma:inglês
Origem:Repositório ISCTE

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