摘要:本文从对中国民营企业境外上市的动机及其在资本市场的状况等方面展开讨论。一开始便提及了中国民营企业境外上市历程和现状,总结了境外上市的发展过程,同时运用数据、图表及年份进行说明。
rmed a boom in the New York Stock Exchange in July 1993 reached a climax. Tsingtao Brewery being sought by the most typical , when 39 famous foreign investment companies scrambled to when its agents, but also over- subscription rate of 200 times , the highest price reached 14 million. However, due after the Mexican financial crisis, this trend will continue into 1994 subsided , the share price at rock bottom .
By 1995 , the "Ninth Five " period, the Chinese government to develop a power constraint to economic development , transportation and other industrial facilities . Of course, soon attracted government support those who want to buy Chinese infrastructure stocks investors' attention , because they think China in the field of infrastructure construction has broad prospects for development, so have to buy these stocks. However, did not last long , due to the prevailing economic weakness in the domestic market , such serious business losses , resulting in foreign investors to sell shares of these companies , resulting in stock price plunged . To the end of 1997, the Asian economic crisis broke out in Hong Kong stock market has plummeted, popular jealousy downturn , coupled with the red chip performance and poor performance results short-lived boom , foreign capital markets for Chinese stocks closed the door as long as 15 months. July 14, 1999 , China Securities Regulatory Commission issued "on the overseas listed enterprise application issues related to notice ." Subsequently, April 16, 2000 Sina listed on NASDAQ in the United States , June NetEase place on the market .
With the global economy recovering from the crisis , the IPO market for the next few years, a trend that people are optimistic attitude and open capital markets will become more important financing solutions . We nearly years China listed companies in the U.S. market , for example, although the Chinese companies listed in the U.S. began in 1992 , but until 2006, showing a scale , 2007 listed companies reached 29 , marking the first U.S. IPO climax . Since 2008 , due to the financial crisis in 2009 , listed a brief cooling off period , until 2010 the United States market was re- active. According to
statistics , as of December 19, 2010 , Chinese enterprises in overseas IPO has 52 , of which 40 listed companies in the United States , seven companies listed in Singapore , South Korea 3 , Germany 1 , England 1 ; wherein US -listed 40 Chinese enterprises have a listing on the American Stock Exchange , 22 listed on the NYSE , 17 on the Nasdaq market, accounting for 26.4% of the number of U.S. IPO in December , Youku , Dangdang and other company listed more successive waves IPO this climax .
China's accession to the WTO, enterprises are facing increasing competitive pressure. Many private enterprises urgently need to implement technical equipment renovation , expansion of production scale and expand market share and improve its overall competitiveness. Therefore, in order to raise more funds to seek better development, their sights on the capital of large capacity, multi-level nature of international capital markets.
With the combination of resources optimization , market radius expansion financing needs continue to increase in scale , often non- self-accumulation can be achieved , therefore the urgent need for funding from outside . Then someone will ask why not from the domestic private enterprises t
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