| New media is one of the most focused industries under capital market. In general, the initial financing sources of the industry relied on risk investment. Because of the capital profit chasing and assisted by the national policies, new media company has a huge advantage that no other traditional media can compete with. Nowadays, more and more new media companies are implementing IPO financing into their development strategies, in a goal of capital enlargement, with healthy and strong growth, improved competitiveness, and higher level of development.Based on the aforesaid researching-subject background and an integration of the researching methods mentioned above, the six-chapter dissertation will be focused on a theoretical research on IPO financing problems, and the unique characteristics of the new media market/company, along with a case study of a successful IPO financing, in the area.Chapter 1 is the introduction, which is the start of the dissertation, which is a summary of the researching background, meanings, methods used, logics and innovations.Chapter 2 is a systematical list and commentary of the Chinese IPO development history and its current situation by using historical analyzing and literature researching methods. It compares different IPO sectors in China, and predicts the size of the future IPO market.Chapter 3 is about the characteristics of the new media market/company. It uses statistics to analyze the investment value of the market for the upcoming three years. Both of the first two chapters give normalized theoretical and statistical support to the demonstration research in the late text.Chapter 4 is a general research part of the dissertation, which uses experience summarization to conclude and analysis the specific situation of the new media company listing problems. It also applied multi-subject theories, methods and results to generally analyze new media company listing problems from an integrative aspect. Through researching and analyzing to find out the suitable types of new media company for IPO financing and proper methods for IPO financing.Chapter 5 sums up the objective risks with relevant policies and suggestions in a journey of IPO financing.Chapter 6 is a case study and conclusion, with the IPO financing case of Focus Media along with the statements and analysis from the previous chapters, we can have a deeper and systematic understanding on researching the new media company to be listed.Based on the analyzing and researching results, the dissertation gives the following suggestions on new media company listing problems.1. New media companies have to use risk investment as a springboard to be successfully listed, and achieve double-winning through IPO financing.2. New media companies with multi-implementable profit models and replicable profit models will be much more suitable for IPO financing, but the current situation is that they are more suitable for Growth Enterprise Market or IPO financing in a foreign market.3. To maintain a healthy profit rate for a long-run to underpin the IPO financing objective, new media companies must adjust their positions according to market environment, and have elite management and technical teams. Even more, companies could avoid risks from industry and capital market change through business-clearance and split-listing. |
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