IT Enterprise Listed Route And Effect Evaluation

Since1980s,international share finance developed sharply under the phenomenon of economy globalization.In China,more and more resident enterprises choose the finance means of listing overseas.After 2000,China's national IT enterprises created times of hot listing upsurge at America NASDAQ and China HK,which had become a hot phenomenon that cannot be ignored and also a hot topic that be researched by various fields around home and abroad.From theory,because of securities business severability,to list overseas can gain higher liquidity and efficiency and can avoid influence from local undeveloped finance market.Therefore,to choose listing overseas is good for decreasing company's financing cost,solving problem of national financing difficulty,adding more financing channels,perfecting company operation system and attracting more international investor.Meanwhile,the recognition level of investors can help further financing cost's down and company's value up,then more good chances of investment and development could be gained.It has been proved that the most important motivation to choose listing overseas is aimed for searching potential finance profit,which via theory and practice.And the chosen place will affect the expense and cost for national company while listing overseas,and then the success of whole activity will be influenced directly.About the listing mode,many types could be defined like Direct Public Offering,Go Public through Buying a Shell,Depository Receipt,Convertible Bonds and Private Placement etc.Besides,the phenomenon of national IT enterprise listing overseas is due to its private particularity as High-tech Company.Normally speaking,High-tech Company always accompanies by risk capital's interposition during its development,and IPO is the best way to help withdrawing risk capital out smoothly.That is to say,whether the listing place possesses perfect risk evaluation system is key factor for High-tech Company to consider and choose.Many national IT enterprises could withdraw the risk-capital via listing overseas successfully.NASDAQ,the so-called growing cradle for High-tech Company,is the key listing channel/place to America and worldwide risk investment.And also the existing of HK growth enterprise market since 1999 created a high point that many high-tech medium and small enterprises choose listing overseas.Nowadays,most research is taking individual company's overseas listing as background,such as national IT Company choosing listing overseas and becomes the hot topic and attracts the focus by international investor,but seldom focus on one industry.Therefore,this article will present based on international various theory suppose about listing overseas,to analysis and compare the listing rule,and sum-up the reason of national IT company choosing listing overseas,from actual example of America NASDAQ stock exchange,China HK stock exchange and Shenzhen stock exchange.On the other hand,to analyze via two true examples of Alibaba.com LTD and E-Future Information Technology Inc.From area of listing place choosing,business mode,publish scale and finance change(before and after listing),and analyze IPO's actual influence to IT company's performance,then find out the successful expenses of IT company listing overseas and further its demonstration research,then supply good reference and theory support to pre-listing-overseas companies.