PAR or EQUITY/Market Value ?

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Oct 17 2006
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one of the hottest topic being discussed recently is whether a corporate equity should be calculated using par-value or equity-value (or market value) … below are the definition for this controversial words taken from wikipedia :
Par value – in finance, means stated value or face value. The par value of a stock was the share price upon initial offering; the issuing company promised not to issue further shares below par value, so investors could be confident that no one else was receiving a more favorable issue price.
Equity value – is a market-based measure of the value of a firm. It accounts for all the ownership interest in a firm including the value of unexercised stock options and securities convertible to equity.
Equity Value = Market capitalization + Value of in-the-money stock options + Value of equity issued from in-the-money convertible securities – Proceeds from the exercise of stock options and/or convertible securities.
if a corporate equity is calculated using par-value, then i would be very much happy to buy telekom (par value = RM 1.00 while share price = RM 9.00) or maybank (par value = RM 1.00 while share price = RM 11.40) …
so, please somebody pleazeee sell your telekom / maybank to me at par value RM 1.00 per share

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Yes I also want to buy MAYBANK, TENAGA, TELEKOM for RM1, since that is what our Govt says they are only worth.

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