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Equity pledge is a normal financing method for enterprises. Many companies to be listed will pledge their shares before listing, so as to increase their cash flow and change their shares. So what is the impact of listing after equity pledge? According to the relevant materials, some contents are sorted out below, please see the analysis below.

First, the impact of equity pledge on the listing of enterprises

The initial issuer's equity is clear, and there is no major ownership problem of controlling shareholders and controlling shareholders and actual controllers. Therefore, clear ownership is a necessary condition for domestic enterprises to go public for the first time.

In fact, equity pledge is a normal financing behavior of shareholders. However, there may be judicial proceedings or freezing the equity pledge and the stability of the equity structure of other third-party companies, or in fact, they will also pay attention to the issue of equity pledge. Whether the equity will lead to the existence of major overdue debts due to the pledge of equity, and whether there will be motives for occupying the assets of listed companies. If there is such a risk, we must handle it with caution. If not, the enterprise only needs to disclose and release the equity pledge normally. If it must be paid off before listing, it is necessary to prove that the debt can be paid off on time.

Equity pledge generally means that the controlling shareholder uses his own equity to guarantee the financing of the enterprise. This situation is generally no problem, because the reason for the equity pledge is reasonable and harmless, and the debtor has certain repayment ability. However, if shareholders pledge their debts with equity, but shareholders holding less than 5% of shares pledge their shares with debt, there should generally be no problem.

Second, the actual problems that may be encountered in the process of equity pledge

Then, if the debtor or a third party holds a limited liability company or an unlisted joint stock limited company (pledging the loan relationship to investors with its equity), what aspects should investors consider? What practical problems may be encountered? In the process of equity pledge of investment projects, the author thinks that there are several problems that need to be paid attention to or solved, among which the first and second points below focus on reminding the pledgee, the third and fourth points are put forward by the author, and the third and fourth points are also the main purpose of this paper.

1. Are there any restrictive provisions in laws, regulations and administrative rules on equity pledge before equity pledge? If yes, unless otherwise stipulated, are there any restrictions on equity pledge in the articles of association of the target company or the pledgor company?

2. When the equity pledge is established, the pledgee shall be specially reminded of the terms stipulated in the equity pledge agreement. What materials should be submitted when registering the establishment of equity pledge, and how to determine them? If the industrial and commercial registration authority requires the pledge contract to be provided in accordance with the model format, the pledgee will not only register the establishment, but also encounter problems about the identification of the pledgor's shareholders. For example, should the pledge of equity be approved by the pledgor's spouse? If there are actual investors, whether or not

3. Will the equity value decrease after the equity pledge is established? If the value is obviously reduced, will it adversely affect the pledgee? What are the acts or events that damage the rights and interests of the pledgee? What are the influencing factors of equity value? How to judge the equity value? In addition, can the pledgee exercise the pledgor's beneficial right? Is the pledgee okay? What if the pledgor's shareholders dispose of the pledge without authorization?

4. What procedures should be paid attention to in the judicial realization of equity pledge? If the pledged equity is frozen first by others, will it protect the rights and interests of the equity pledgee in order to realize the pledge right, and how to coordinate the first freezing with the priority creditor's rights? When the equity pledge is realized, if there are other priorities in the equity, how to balance and coordinate the priority of compensation and other priorities in the equity pledge?

Although equity pledge is a good financing method for enterprises, it is still necessary to operate cautiously for enterprises to be listed. Because it involves equity change, the operation of equity pledge is clear, which does not affect the listing, and accelerates the listing process of enterprises after equity pledge, thus completing the final listing. For more relevant knowledge, please consult Shangluo lawyer.

Extended reading:

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2. What factors affect the equity pledge?

1. Constraints on the comprehensive establishment of intellectual property rights and equity.

1, the evaluation system of intellectual property rights such as trademark rights and patent rights is not perfect, and independent evaluation standards have not been formulated, so there are valuation risks. At present, although China has formulated the evaluation standards for intangible assets, there are no separate standards for various intellectual property rights such as trademarks and patented technologies. Because the characteristics of various intellectual property rights are significantly different, there is no independent and systematic evaluation standard, and the evaluation level is difficult to measure, which leads to the lack of authority in the evaluation value. Financial institutions determine the loan amount accordingly, which has certain risks.

2. The stock price market of listed companies is sensitive, the stock price fluctuates frequently, and the risk is difficult to control; However, the equity value of unlisted companies is difficult to calculate and the liquidity is poor. Once a non-performing loan is formed, it is difficult to realize the pledged equity.

3. Pledge registration procedures are expensive in different places, which increases the burden on enterprises. In addition to the normal loan fees, the pledge registration of the exclusive right to use a trademark requires both the borrower and the lender or the authorized person to handle it directly at the State Trademark Office in Beijing, which leads to the increase of the loan cost, especially for some enterprises with small capital needs.

4. The domestic intellectual property circulation market is not perfect, and trademark rights are difficult to realize. In China, trademarks are regarded as symbols of specific products or services. If it is separated from the goods or services associated with it in the eyes of the public, it may lose its value or cease to exist. In addition, at present, China has not yet established a unified intellectual property transfer market, and it is difficult to transfer trademark rights. If the loan defaults, it is generally difficult for financial institutions to dispose of trademark rights in a short time, thus affecting the enthusiasm of some financial institutions to participate.

Third, what are the restrictive factors of rural equity?

The main restrictive factors of rural equity pledge loans are: 1. Equity evaluation lacks a third-party organization, and its fairness is difficult to reach an agreement with commercial banks. 2. Constrained by law, the transfer of mortgaged rural homestead, farmhouse and collective equity is limited, and it is difficult to realize the risk once it occurs. 3. The natural weakness of agriculture leads to the high risk of rural equity mortgage loans. Article 63 of the Land Management Law stipulates that the land use right collectively owned by farmers shall not be sold, transferred or leased for non-agricultural construction; However, enterprises that meet the overall land use planning and obtain construction land according to law, except for the transfer of land use rights according to law due to bankruptcy and merger.

Fourth, what will happen to the equity pledge?

If a company or individual wants to borrow money, it must use real estate, stocks or other valuable securities as collateral. Stock mortgage is equity pledge.