- With the recent flurry of companies restructuring and breaking up to create shareholder value, we conducted a theoretical study to identify the intrinsic value of individual business segments within the DFI Retail Group (SGX:D01) as standalone entities.
- - Read this at SGinvestors.io -
- health & beauty (H&B),
- home improvement,
- restaurants, and
- others (listed equity shareholdings).
- Sum-of-the-parts (SOTP) valuation suggests a price of US$4.10 to US$$6.41 per share, significantly above the current DFI Retail's share price, or a 30%-110% upside. Using a SOTP-based valuation, we determined the base case equity value to be US$7.0bn, which represents a value of US$5.16 per share.
- - Read this at SGinvestors.io -
- In the following section, we will discuss our outlook and how we value DFI's each individual business segment
1) Food – leading food retailer in Hong Kong & Singapore
- Read more at SGinvestors.io.
