Market value appears objectively only rarely in the lifetime of a business, usually in connection with a major event, such as a share purchase agreement, a capital increase or a share transfer.

The market for shares is rather narrow, with few players involved, so there is rarely enough information available for valuation.

Businesses are unique and complex "products", so their pricing is influenced by many factors, such as: future cash-flow generating capacity, existing contracts, quality of management, risks from past operations or available assets.

Company valuation requires specific expertise. BDO's Corporate Finance team estimates the market value of companies using one or a combination of the most widely accepted methods in line with international standards: discounted cash flow (DCF) methods, on a comparative valuation basis or using an adjusted net asset value methodology.