Publicação
Daimler truck spin-off valuation and analysis - investigating the impact of lock-up expirations on stock returns in Germany
| Resumo: | This study offers an insightful analysis of the corporate spin-off of Daimler Truck Holding AG from its parent company, Mercedes-Benz AG, on December 10, 2021. The valuation of Daimler Truck's stock price on its initial trading day is approached through three distinct methods: 1) intrinsic value, 2) Comparable Company Analysis, and 3) Precedent Transaction Analysis. Among these approaches, the intrinsic value method yields the most reliable output, given Daimler Truck's status as a company characterised by stable cash flows. In addition to the valuation analysis, the research project deals with the examination of lockup agreements and their impact on post-IPO stock performance in Germany. |
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| Autores principais: | Bircan, Efekan |
| Assunto: | Valuation Spin-off Lock-up agreements Ipo Value creation |
| Ano: | 2024 |
| País: | Portugal |
| Tipo de documento: | dissertação de mestrado |
| Tipo de acesso: | acesso aberto |
| Instituição associada: | Universidade Nova de Lisboa |
| Idioma: | inglês |
| Origem: | Repositório Institucional da UNL |
| Resumo: | This study offers an insightful analysis of the corporate spin-off of Daimler Truck Holding AG from its parent company, Mercedes-Benz AG, on December 10, 2021. The valuation of Daimler Truck's stock price on its initial trading day is approached through three distinct methods: 1) intrinsic value, 2) Comparable Company Analysis, and 3) Precedent Transaction Analysis. Among these approaches, the intrinsic value method yields the most reliable output, given Daimler Truck's status as a company characterised by stable cash flows. In addition to the valuation analysis, the research project deals with the examination of lockup agreements and their impact on post-IPO stock performance in Germany. |
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