EV, Equity Value + IPOs Flashcards
1
Q
Enterprise Value
A
Debt + Equity - Cash
2
Q
EV CF
A
CF/(r-g)
3
Q
Equity Value Multiplier: Training 12 months
A
EV/ EBITDA (last year)
4
Q
Equity Value Multiplier: Forward EV
A
EV/Next year EBITDA
5
Q
Equity Value
A
Equity Value Multiploer·[EBITDA + cash -debt)
6
Q
Issue proceeds to company or shareholders
A
N stocks sold · offer price · (1 - spread)
7
Q
Underwritting comission
A
N shares · offer price · spread
8
Q
Money left on table
A
N shares · (closing time price - offer price)
9
Q
Underpricing costs
A
N shares · (closing time price - offer price)
10
Q
Total costs
A
Underpricing costs + comission costs
