ActStu Company Limited $($ACL$)$ is a firm specialized in the provision of students accommodation. The company has been operations for the last $5-$years and has approached the University of Ghana $($UG$)$ to help them to solve the student accommodation challenges on campus. ACL has proposed to build a $1000$ bed student accommodation on campus that it will run for $20$ years, after which it will hand it over back to the university management. In order to fund the construction of the $1,000$ bed facility, ACL has proposed to raise funding capital through the issuance of shares on the Ghana Stock Exchange. ACL and its fund raising consultants, having gone through the project viability have proposed to raise GHS $100$ million in an Initial Public Offer, valued at GHS $10$ per share. The consultants have also estimated the following: Rate per bed per annum GHS $15,000($growing at $10\%$ per annum$)$ Maintenance cost per annum $15\%$ of revenue Other cost per annum $5\%$ Occupancy rate $100\%$ The average Required Rate of Return $($Discount rate for the next $20$ years of $15\%$ As a Portfolio Manager working for EDC Investments Limited, ACL and its fund$-$raising consultants have approached you to invest in their IPO. Prepare an Investment Valuation to the Investment Committee of EDC Investments Limited to address the following. $1.$ What are the main options for financing that could have been used by ACL?$2.$ Whether the IPO is the best approach for ACL to fund the construction of the $1,000-$bed accommodation$3.$ If the IPO is the best financing approach for ACL, is the IPO price per share a fair recommendation for EDC Investments Limited to buy? $($Assuming ACL does not have any relevant prior to the above project$)4.$ What method was used in ascertaining the fair price and why?$5.$ What are the risks, if any, that EDC Investments Limited faces in investing in the IPO if this is recommended?$6.$ How does EDC Investments Limited mitigate the risks in $3$ above if they decide to invest in the IPO.