Our recommendation is that the Intravenous Infusions Limited share offer is investment grade and encourage interested parties to invest in the company.
Our valuation of the company involved a six-year forecast of its performance from 2015 to 2019. The assumptions for the forecasts were based on the company’s historical performance, the industry dynamics, Ghana’s economic outlook and prospects for the company in the future. In arriving at a target price, we used a combination of a discounted cash flow (DCF) method, Free Cash Flow to Equity (FCFE), and multiples including Price-to Book, Price-to-Earnings and MVIC-to-EBITDA ratios.
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FirstBanC Financial Services
12th floor, World Trade Center
19th Independent Avenue
RIdge Ambassadorial Enclave
P.O. Box 1464 Osu, Accra