Maraglino, Gregorio (A.A. 2023/2024) The impact of IPOs on Value Creation within the Automotive Sector: the cases of Daimler Truck, Porsche AG and Ampere. Tesi di Laurea in Advanced corporate finance, Luiss Guido Carli, relatore Pierluigi Murro, pp. 100. [Master's Degree Thesis]

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Abstract/Index

Conglomerates holding discount and spin-off potential benefits: evidence from the literature. What is the holding discount. The reason behind the existence of a holding discount in conglomerates. Spin-off and portfolio optimization benefits for company value. Methodologies for holding discount and listing value creation analysis. Holding/conglomerate discount and their role in broker reports SOTPs. Bridge to equity and stub value analysis. Evidence of attempts of value creation through spin-offs in the automotive industry: Daimler Truck and Porsche AG IPOs. Daimler Truck IPO. The historic Porsche AG IPO. Lessons from the past: Renault’s cancelled ampere IPO and its value creation strategy. A bit of background: the automotive market and the history of Ampere's IPO. Broker reports consensus on Ampere IPO. Holding discount applied to the SOTP. Stub value analysis. Would Ampere's IPO have generated value in the group? The good, the bad and the ugly.

References

Bibliografia: pp. 97-100.

Thesis Type:	Master's Degree Thesis
Institution:	Luiss Guido Carli
Degree Program:	Master's Degree Programs > Master's Degree program in Corporate Finance, English language (LM-77)
Chair:	Advanced corporate finance
Thesis Supervisor:	Murro, Pierluigi
Thesis Co-Supervisor:	Santella, Rosella
Academic Year:	2023/2024
Session:	Autumn
Deposited by:	Alessandro Perfetti
Date Deposited:	10 Jun 2025 06:54
Last Modified:	10 Jun 2025 06:54
URI:	https://tesi.luiss.it/id/eprint/42377

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