When a company becomes a listed company, we hold out for the first time. There are three procedures.
1. He has to apply for a public offering of shares first.
He will be coached by the underwriter.
He wants to apply to the stock exchange for listing approval.
First of all, talk about distribution.
1. The management system of securities issuance includes examination and approval system and approval system.
2. Distribution method:
According to different issuers, it can be divided into public offering and private offering;
According to the existence of distribution intermediary, it can be divided into direct distribution and indirect distribution;
According to different purposes of issuance, it can be divided into initial issuance and capital increase issuance.
Second, talk about the conditions for initial public offering.
1. Its production and operation conform to the national industrial policy;
2. The common shares issued by it are limited to one type, and the same shares have the same rights;
3. The amount of share capital subscribed by the promoters is not less than 35% of the total share capital to be issued by the company;
4. At the end of the year before the issuance, the proportion of net assets in total assets shall not be less than 30%, and the proportion of intangible assets (excluding land use rights) in its converted share capital shall not be higher than 20%;
5. The total share capital of the company is not less than RMB 50 million;
6. The part to be issued to the public is not less than 25% of the total amount of the company's proposed share capital. If the proposed share capital exceeds 400 million yuan, the proportion of the part to be issued to the public may be reduced as appropriate, but the minimum amount shall not be less than15% of the total amount of the proposed share capital;
7. The promoters have not committed any major illegal acts in the past three years;
8. Continuous profits in the past three years, etc.
Third, talk about listing counseling.
Stock issuance and listing counseling refers to the standardized training, counseling and supervision of the joint stock limited company to be issued and listed by the relevant institutions. The issuing and listing counseling institution shall be a qualified securities institution, and in principle, it shall be the same securities institution as the lead underwriter who issues tickets for the company. The content of counseling
① Training ② Asset reorganization, and defining property rights relations.
(3) to formulate the articles of association and establish a standardized organization.
(4) to assist the company in accounting adjustment.
⑤ Assist the company to make plans for raising funds.
⑥ Coordinate all intermediary agencies.
Fourth, issue the prospectus.
Prospectus is a legal document that when a joint stock limited company issues shares, it discloses the relevant issues to the public and makes an offer or invitation to buy or sell its shares to specific or non-specific investors.
Fifth, the Road show.
Roadshow refers to the promotion meeting of stock issuance, which is a common way used by overseas listed companies to communicate the relationship between investors and shareholders. Road show is also translated as "road tour", which is arranged by stock underwriters to help issuers.
Research activities before issuance.
Sixth, the specific methods of securities underwriting.
There are mainly underwriting and consignment. According to the provisions of Article 21 of the Securities Law, China's securities underwriting business can take the form of consignment or underwriting.
Moreover, if the total par value of securities issued to the public exceeds 50 million yuan, it shall be underwritten by the underwriting syndicate. The difference between securities underwriting and securities consignment.
① The legal status of the underwriter is different.
② The risks and rewards of the underwriters are different.
③ Underwriting and consignment are applicable to different issuers respectively.
(4) The issuer has its own advantages and disadvantages in underwriting and consignment.
Seventh, the conditions for stock listing.
(1) Its shares have been approved for public offering.
(2) The total issued share capital shall be no less than RMB 50 million.
(3) There shall be no less than 1000 individual shareholders holding RMB 1000 yuan or more. The total par value of stocks held by individuals is not less than RMB10 million yuan.
(4) Public shares shall not be less than 25% of the total share capital. If the company's total share capital exceeds RMB 400 million, the proportion of public shares shall not be less than15%.
(5) There is no false record in the company's financial report in the last three years, and there is no major breach of contract in the last three years.
(6) Other conditions stipulated by the competent securities department.
Summarize the listing procedures; Schematic diagram of listing application procedure
1. company listing application
2. Approved by the Listing Committee of the stock exchange
3. Conclude a listing agreement
4. Register of shareholders for the record
5. Disclosure of listing announcement
6. Listing transactions
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Listing is a joint stock limited company registered in China and its shares are listed and traded in the agency share transfer system. A listed company is a joint stock limited company whose registered place is in China and whose shares are listed and traded in the agency share transfer system.
There are also companies that are not listed, such as Laoganma and Huawei. Although they are not listed, they are doing well.