=3/Gassoumi plc has the following characteristics: Net earnings: 100m Number of shares: 1 000 000
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=3/Gassoumi plc has the following characteristics:
◦ Net earnings: £100m
◦ Number of shares: 1 000 000
◦ Market price per share: £1000
◦ Book value of equity: £1200m
◦ EPS: £100
◦ Book value per share: £1200 The company decides to take advantage of a sudden stock market slump by buying back a quarter of its shares at a price of £500 per share. Its after-tax cost of debt is 5%.
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Related Book For 
Corporate Finance Theory And Practice
ISBN: 9781118849330
4th Edition
Authors: Pierre Vernimmen, Pascal Quiry, Maurizio Dallocchio, Yann Le Fur, Antonio Salvi
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