Research Of IPO Strategy For Chinese Small And Mid-size High-tech Enterprise

Under new economy, small and mid-size high-tech enterprise has become a key driver of our national economic innovation and technological advances. We deemed the most important aspects of IPO are market, timing, undertaker, and pricing. We analyzed massive historic data gathered from NASDAQ, Hong Kong stock market, Singapore stock market and Shenzhen Small and Medium Enterprise board, thus uncovered determining factors influencing various IPO strategies.The first part introduced the background of this research. It proposed enterprise under new economy requires support from new financial system because it has it's own rules and characteristics. The second part studied status of our small and mid-size high-tech enterprise IPO practice from various angles. With thoroughly analysis, we pointed out reasons and existing barriers behind current IPO wave of enterprise under new economy . The third part discussed cons and pros of different IPO strategies. From new economy's standpoint, we studied various IPO strategies from market, timing, undertaker, and pricing aspects. Integrating theory analysis approach with diagnosis analysis approach, system analysis approach with comparison analysis approach, quantitative analysis approach with qualitative analysis approach, we analyzed massive historic data from four major stock markets, and pointed out determining factors influencing various IPO strategies. The fourth part focused on IPO risk management. From experience of oversea venture capital market, together with past issues in China small and mid-size enterprise sector, we raised certain proposals for the future development of our venture capital sector.