| dc.description.abstract | The overall objective of this thesis was to estimate the value of Imexpharm and to
determine whether the company was correctly valued by the market. Imexpharm is a
pharmaceutical company located in Dong Thap Province, Vietnam. The company has
been listed on the Ho Chi Minh stock exchange since 2006. Unlike many listed
companies used consulting services for annual report, IMP has a separate team to do this.
The self-writing and editorial of the annual reports of the past year did not target in cost
savings, but there are other special reasons. The editors of IMP Annual Report include
leaders from the middle to the highest level in the company. They thought that a
consistent, annual reports is that they are a self-portrait painting of their own companies,
the most honest, demonstrated "excellent spirit" that they want, not polished, not flashy.
That was one small action to contribute to the implementation of the IMP ambition is to
become "the pharmaceutical company's most trusted Vietnam".
This thesis investigates the Imexpharm pharmaceutical company from strategic and
financial viewpoint in order to determine companies’ fair market value. The external
analysis researches industry and global economic situation on the valuation date as well
as states the future trends. Two methods with a total of five valuation approaches were
used. I update IMP with a revised target share price of 43,500 VND per share suggesting
a 16% upside to the current market price. Considering IMP’s core competences, I initiate
the coverage of IMP with a “Buy recommendation” and a target price of 43,500 VND. | en_US |
