A valuation is an estimate of what a limited company or a shareholding is worth. It is often made ahead of a capital raising, an acquisition or a transfer of shares.
A valuation can be based on, for example, net asset value, comparable companies or future cash flows. The valuation sets the price per share in a new share issue and affects the company's cap table.

A market-based valuation means a company is valued by comparison with similar companies or transactions.
Read more
Net asset value is the value of a company's assets minus its liabilities.
Read more
Capital raising is when a company brings in new capital, for example through a new share issue.
Read more
An acquisition means a company or person buys shares or a whole company.
Read more