Jonny was here <a href=" http://lasuperiornyc.com/?4th-grade-essay-writing-worksheets.pdf#enable ">essay on my summer vacation in hindi</a> Applying a 14 times multiple to last year's earnings beforeinterest, tax, depreciation and amortisation (EBITDA) of $1.64billion, an IPO could value A.S. Watson at about $23 billion,bankers and analysts estimate. If 25 percent of A.S. Watson isfloated - a standard Hong Kong IPO percentage - the IPO couldraise close to $6 billion.