The upcoming float of Alibaba (the largest internet IPO of all time) is all about valuation
The upcoming float of Alibaba (the largest internet IPO of all time) is all about valuation. Alibaba is a pretty clean business in terms of what it actually does. The business model is widely known and it's already very profitable. Valuation will be the big question. At the high end of the range it would be priced at 40 times based on trailing 12-month earnings to June, adjusting for one-off items and the new shares issued at the IPO. We would not compare it to Amazon's current valuation as investors there are already factoring in the business moving into profitability.
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At PM Capital we are not afraid to be different, we search the world for undervalued stocks, we avoid the trap of “group think” and prioritise company valuation over all other aspects. Founded in 1998, PM Capital is part of the Regal Partners Limited stable of alternative asset managers and specialise in Global & Australian equities and Global Fixed Interest strategies. We believe the very best way to minimise investment risk is through understanding valuation, as such, we avoid companies who are hard to understand or difficult to value and are well known for our discipline in resisting short term market noise and ability to hold investments through full industry cycles.
PM Capital
At PM Capital we are not afraid to be different, we search the world for undervalued stocks, we avoid the trap of “group think” and prioritise company valuation over all other aspects. Founded in 1998, PM Capital is part of the Regal Partners...
Expertise
PM Capital
At PM Capital we are not afraid to be different, we search the world for undervalued stocks, we avoid the trap of “group think” and prioritise company valuation over all other aspects. Founded in 1998, PM Capital is part of the Regal Partners...
Expertise
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