c) Assume that you are trying to estimate a price per share on an initial public offering (IPO) of a company involved in real estate.

The company recorded the following indicated earnings per share (EPS) in the last five years

YEAR	EPS
1	10
2	8
3	15
4	16
5	20

You also have data on other similar companies in the real estate sector which are already listed at the local stock exchange

Comparable Firm	Market Price Per share (MPS)	Earnings Per Share (EPS)
A	15	10
B	100	60
C	50	60
D	30	25

Extracts from the books of the company reveal the following

Ordinary Share Capital (Sh. 1.5 Par value)	Sh. 300 Million
Borrowings	Sh. 75 Million

Required:

Estimate the price per share for the company. Clearly state the assumptions taken into consideration in your analysis and computation