Dividend Discount Model

The company gonna IPO in March 2017. Since this company is a growing firm and is expected to maintain a stable growth rate of 2%, the revenue and grows at a steady rate of 10.42% and the initial payout ratio in 50% i.e. the company pays 50% of the net profit to the shareholders. The long term ROE is assumed to be 15%. Now i need to use Dividend discount model to calculate the company value. (what data should I look at?)

1. How can I calculate the expected payout ratio in the stable growth rate?

2. How to calculate a value per share?

(In SG$ thousands) Sales Cost of Goods Sold Gross Profit Other Income Depreciation and Amortization Other Expenses Earnings Before Interest and Tax Interest Profit Before Tax Income Tax Expense Net Income Attributable to: Owners of the Company Non-Controlling Interests 2014 148,872 -117,428 31,444 2,093 -2,694 -9,625 21,218 -3 21,215 -1,160 20,055 2015 155,972 -122,522 33,450 2,482 -2,725 -9,645 23.562 -2 23.560 -1,067 22,493 2016 172,226 -135,021 37.205 3,566 -1.941 -13,246 25,584 -2 25,582 -1.365 24,217 L L 10,408 9,647 12,174 12.043 11.560 10,933 1.18 1.00 Pre-Invitation Earnings per Share (cents) Post-Invitation Earnings per Share (cents) 1.06 0.90 1.24 1.05 (In SG$ thousands) Sales Cost of Goods Sold Gross Profit Other Income Depreciation and Amortization Other Expenses Earnings Before Interest and Tax Interest Profit Before Tax Income Tax Expense Net Income Attributable to: Owners of the Company Non-Controlling Interests 2014 148,872 -117,428 31,444 2,093 -2,694 -9,625 21,218 -3 21,215 -1,160 20,055 2015 155,972 -122,522 33,450 2,482 -2,725 -9,645 23.562 -2 23.560 -1,067 22,493 2016 172,226 -135,021 37.205 3,566 -1.941 -13,246 25,584 -2 25,582 -1.365 24,217 L L 10,408 9,647 12,174 12.043 11.560 10,933 1.18 1.00 Pre-Invitation Earnings per Share (cents) Post-Invitation Earnings per Share (cents) 1.06 0.90 1.24 1.05