Research On The Operation Of Listing-by-buying-shell

In recent years, there have been increasing cases that private enterprises restructure public companies, especially state-owned public companies. The phenomenon of Listing-by-buying-shell comes to be the central topic of the security market. After the great improvement of many shell companies, listing-by-buying-shell has gathered much more attention than ever. So it's a key issue before us to normalize the operation of listing-by-buying-shell.From the angle of private enterprises operating the listing-by-buy-shell, the thesis studies in turn about the key operation sections of listing-by-buying-shell, such as establishing the listing-by-buying-shell strategy, choosing and buying the shell, integrating the shell, and evaluate the effect of listing-by-buying-shell. In the part of establishing the strategy, the thesis demonstrates the three steps of strategic analyzing, strategic selection, and strategic assessing. The content frame of strategic analyzing, the order and method of strategic selection and the way of strategic evaluation, are also proposed. The chapter of choosing and buying the shell is composed of the former preparation, searching for and choosing the target shell, designing the buying solution, and the performance evaluation of listing-by-buying-shell. The part of designing the buying solution analyzes the key point of setting the holding ratio, the way of buying, the price of acquisition, the way of paying, and the legal articles of the acquisition contract. The performance evaluation part states the approach and method of the final evaluation on the acquisition contract. The chapter of integrating the shell states the approach of integration and the key point of personnel adjustment, assets reconstruction, managing integration, and cultural conformity. The chapter of assessment discusses the principal, method and quotas of assessment on listing-by-buying-shell.With the aim to guide the operation of listing-by-buying-shell, the thesis put emphasis on such key operations as making the strategy, choosing and buying the target shell, and the assets restructure after buying.