SUMMER SCHOOL 2024
Valuation of Complex Securities in the Energy Space
Venue:
Municipal Art Gallery of Piraeus, Greece
and Online via MS Teams
23/9 - 27/9 2024
Address: Filonos 29, Piraeus 18531
The Summer School provides a Certificate of Attendance with ECTS credits.
The fundamental goal of this course is to:
- Provide an overview of the various types of capital structures/equity securities/management equity awards that are part of complex business transactions that are performed by the biggest institutional investors in the world.
- Provide thought leadership content in terms of appropriateness/limitations/challenges of the various approaches and a hands on experience in real world scenarios.
- Present case studies with the valuation of complex pre-IPO equity interests in the energy space and the application of various approaches contemplated within the duration of the course
Participants will get unparalleled insights into the real world of complex valuations performed in the US and worldwide and hear from the Thought Leaders in this space.
Program
Evening Classes will be held Online
Day 1 (3.5 hours)
Valuation of Private Equity
12.00am – 2.30pm & 5.00pm – 6.00pm
- Description of the valuation of single class or multi class capital structures with static or dynamic assumptions framework (OPM), Pros and Cons, limitations and applicability
- Online presentation by a US expert of Private Equity and Venture Capital valuation approaches
Day 2 (4 hours)
Valuation of business combinations and contingent consideration liabilities (Earnouts) for companies in the Energy Space and Introduction to Portfolio Valuation
11.00am – 2.00pm & 5.30pm – 6.30pm
- Introduction in the Earnout framework (specific examples, main methodologies employed for Earnout valuations and key assumptions)
- Real life case study of Earnout based on energy-related underlying metric
- Online presentation of portfolio valuation approaches by a US expert
Day 3 (4 hours)
Portfolio Valuation for companies in the Energy Space
11.00am – 2.00pm & 5.30pm – 6.30pm
- Python Workshop – Modelling and simulations for energy assets valuation
- Online presentation by a US expert of real life case studies of valuation of an energy company utilizing different approaches (Guideline Public Companies, Comparable Transactions, Acreage Methodology, Income Approach)
Day 4 (3.5 hours)
Measuring ESG Risk Premia with contingent claims
10.00am - 1.30pm
- ESG based derivatives (ESG swaps, bonds, etc.), trend observed in markets and valuation methodologies
- Hedging of risk utilizing derivatives & hedge effectiveness measurement methodologies based on IFRS and US GAAP standards
Day 5 (3 hours)
Discussion - Round table
10.00am - 1.00pm
- Key takeaways from the summer school
Instructors
Ioannis Michopoulos, M.Fin., MIT Sloan School of Management
Director – Valuation Advisory, Stout
Andre Denis, M.S., Finance, University of Texas at Austin
Vice President – Valuation Advisory, Stout
Ioannis Nikoloudakis, M.S., Accounting and Finance, Athens University of Economics and Business
Vice President – Valuation Advisory, Stout
Theodoros Koutris, M.S., Banking and Finance, University of Piraeus
Associate – Valuation Advisory, Stout
Alexandros Bougias, B.S., Accounting and Finance, Athens University of Economics and Business
Analyst – Valuation Advisory, Stout
Fees and Payment
For Professionals and Academics, the cost is 300€
For Active Students and People not in Employment, the cost is 200€
Attendance
Morning Classes will be held at the Municipal Art Gallery of Piraeus, and will be broadcasted online.
Evening Classes will be held online.
Register
You can register via this link.
Sponsors
Contact
Professor Nicholas Apergis – napergis @ unipi.gr
Associate Professor Dimitrios Voliotis – dvoliotis @ unipi.gr