On June 11, 2018, Jake Veluz, portfolio manager at BDO Asset Management had to decide whether or not to invest in the initial public offering (IPO) of D.M. Wenceslao and Associates (DMW), a Philippine-based integrated property developer. The IPO price of DMW was reduced from 22.90 to 12 because of deteriorating stock market conditions. There is substantial concentration risk because most of the company's land is in a single location and it is subject to long-term competitive pressures. However, DMW also has good prospects for future growth and capital appreciation in real estate rentals and development. Veluz had to prepare an internal memo to explain the merits, risks, and fair valuation of a possible investment in the DMW IPO in the context of weak stock market conditions. Maria Theresa Manalac is affiliated with Asian Institute of Management. Gian Carlo Lim is affiliated with . Sandeep Puri is affiliated with Asian Institute of Management.

【書誌情報】

ページ数：17ページ

サイズ：A4

商品番号：HBSP-W20664

発行日：2020/8/20

登録日：2020/12/14