In this dissertation we introduced basic steps and guidelines at business valuation process, but stress the importance of the share price variation due to company's characteristics. We focused on the lack of marketability discount, which we also presented on one concrete example. We chose one of successful Slovenian companies, which is closely held and has its own private stock market. We analysed and evaluated the above mentioned discount, caused by the specifics of this company's organisation, through it's main ownership and business performance characteristics. But firstly we had to predict the value of free cash flows for next five consecutive years after the date of valuation (31. 12. 2017) and get the appropriate discount rate for bringing all the predicted values to present. After that, it was possible to calculate and variate the share price of the selected company.
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