loading
Papers Papers/2022 Papers Papers/2022

Research.Publish.Connect.

Paper

Paper Unlock

Authors: Eggi Ahmad Hidayat and Riko Hendrawan

Affiliation: Telkom University, Jalan Gegerkalong Hilir No.47, Bandung, Indonesia, Indonesia

Keyword(s): DDM, FCFF, IPO, Relative Valuation

Abstract: The objective of this research is to estimate the fair value of Telkomsel share price in the initial public offering plan using FCFF and DDM approach with the verification of the result by using Relative Valuation method with the PBV approach and Price to Earnings Ratio. This research used three scenarios, namely the pessimistic, the moderate, and the optimistic, with historical financial data from 2012-2017 used as the baseline for projections for 2018 – 2022 conditions. Outcomes from this research show that by using the DCF-FCFF method in every one of the three scenarios, Telkomsel’s value is in the range of 80% to 93% of Telkom’s (TLKM.ID) Market Price. Comparison with DDM valuation shows the FCFF valuation range extend in an acceptable range - on the other side, relative valuation method used is the PER and PBV approach, where the calculation for Telkomsel PBV is above Telco Industry market range and Telkomsel PER value is still within market range.

CC BY-NC-ND 4.0

Sign In Guest: Register as new SciTePress user now for free.

Sign In SciTePress user: please login.

PDF ImageMy Papers

You are not signed in, therefore limits apply to your IP address 13.59.36.203

In the current month:
Recent papers: 100 available of 100 total
2+ years older papers: 200 available of 200 total

Paper citation in several formats:
Hidayat, E. and Hendrawan, R. (2020). Should Telkom do IPO for Telkomsel ?. In Proceedings of the 2nd International Conference on Inclusive Business in the Changing World - ICIB; ISBN 978-989-758-408-4, SciTePress, pages 337-347. DOI: 10.5220/0008431003370347

@conference{icib20,
author={Eggi Ahmad Hidayat. and Riko Hendrawan.},
title={Should Telkom do IPO for Telkomsel ?},
booktitle={Proceedings of the 2nd International Conference on Inclusive Business in the Changing World - ICIB},
year={2020},
pages={337-347},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0008431003370347},
isbn={978-989-758-408-4},
}

TY - CONF

JO - Proceedings of the 2nd International Conference on Inclusive Business in the Changing World - ICIB
TI - Should Telkom do IPO for Telkomsel ?
SN - 978-989-758-408-4
AU - Hidayat, E.
AU - Hendrawan, R.
PY - 2020
SP - 337
EP - 347
DO - 10.5220/0008431003370347
PB - SciTePress

- Science and Technology Publications, Lda.
RESOURCES

Proceedings

Papers

Authors

Ontology

CONTACTS

Science and Technology Publications, Lda
Avenida de S. Francisco Xavier, Lote 7 Cv. C,
2900-616 Setúbal, Portugal.

Phone: +351 265 520 185 (National fixed network call)
Fax: +351 265 520 186
Email: info@scitepress.org

EXTERNAL LINKS

PRIMORIS

INSTICC

SCITEVENTS

CROSSREF

PROCEEDINGS SUBMITTED FOR INDEXATION BY:

dblp

Ei Compendex

SCOPUS

Semantic Scholar

Google Scholar

Microsoft Academic