Unicapital, Inc., an independent financial adviser accredited by the SEC and PSE, conducted a valuation study on MPIC’s shares following the Guidelines on the Conduct of Valuation and Issuance of a Fairness Opinion as outlined in the SRC Rules.
In their assessment, Unicapital, Inc. considered various valuation methods, including Net Asset Value Approach, Discounted Cash Flow Approach, Dividend Discount Model, Price-to-Earnings-Based Approach, and Volume-Weighted Average Price. The resulting valuation range for MPIC’s shares was determined to be between ₱3.37 and ₱5.10.
The Tender Offer Price, set at ₱5.20, represents a premium of ₱0.10 over the highest end of the valuation range stated in the Fairness Opinion Report of Unicapital, Inc.
You can access the valuation report and fairness opinion, dated June 26, 2023, at this link: https://www.mpic.com.ph/wp-content/uploads/2023/07/Unicapital-Fairness-Opinion-and-Valuation-Report-1.pdf.