Research On Holistic Listing Of China's Steel Enterprises

Going public is among the most important phenomena in corporate finance, the whole market is the pioneers of the financial creation of holistic listing.The paper are listed on the business model of the overall analysis of the overall pattern of brief listing of A+H model, the reverse mode of acquisition of the parent company, convertible mode of absorption of the merger, IPO convertible model, as well as the applicability of several models, mainly from its the cost of the listing process requirements, the listing and so on to describe the effect, but also pointed out that a number of advantages and disadvantages of each model) and iron and steel industry as a whole choice of market model analysis, China's steel industry analysis of the overall characteristics. We mainly from it than the other sectors in terms of a number of particularities, but also combine some of the current development of the iron and steel industry to describe the characteristics of the two listed as a whole pattern analysis, additional anti-directional mode of acquisition of the assets of the parent company of Iron and Steel --- model Through additional targeted major shareholders to acquire the assets held by their hands. This is in full circulation began to slip after the way the overall market. Does not exist as a result of refinancing behavior, the more easily accepted by small and medium-sized shareholders, large shareholders can also increase the proportion of listed companies holding. Angang New listing on the use of the whole to the controlling shareholder of the Iron and Steel Group, directed the flow of additional A shares to acquire the parent company's wholly-owned subsidiary of the new Iron and Steel Company 100% of the equity. At the same time, the absence of financing acts of the assets of the acquired high-quality, Angang New new program has been welcomed by investors in the secondary market. Taigang Stainless, Bengang Steel Plates, such as listing the company as a whole have taken this approach. Group of backdoor listing, as well as the overall pattern of the main mode --- Wuhan Iron and Steel industry assets and secondary assets are very large companies can learn from, there may be insufficient funds or listed subsidiaries to acquire a larger amount of assets. The two models listed as a whole to learn from more common ground between the two:Group asset quality is relatively good, compared the two different points:the financing behavior, analysis of the pricing mechanism, the application environment is different. And related data analysis. Further analysis of the overall market strategy and the financial impact of reorganization:strategic analysis; whole listing of the financial arrangements and strategies, process reengineering and organizational integration to support the role of group strategy, the last of the iron and steel enterprises to choose the overall pattern of the proposed listing and Baoshan Iron and Steel and Wuhan Iron and Steel of the overall market compared to the main written and after they are listed on the day of the performance and effectiveness of different to the overall market is about to be taken out of an alarm company; this section and in front of Iron and Steel Wuhan Iron and Steel model is not the same as the previous mainly on the application of various different business model. Market model to choose the overall analysis of the proposed model have been taken of the overall iron and steel enterprises listed on the motives and circumstances of different companies to choose a more suitable model which is consistent with, if not met, then how process reengineering, backdoor, and to build the shell and Shell is the basic pattern of the overall market, in reality, China Iron and Steel Enterprise (Group) model used in the overall market varies. We believe that both types of models have different advantages and disadvantages and application conditions, there is no specific way to which the problem of optimal, the key is a listed company, a listed company and its assets and the relationship between the characteristics of such factors as more suitable for what model. We analyze the conditions of application of various models. Finally, this paper, China's iron and steel enterprises in the implementation of the overall market conditions, China's iron and steel enterprises listed on the success of the overall analysis of the external conditions, China's iron and steel enterprises listed on the success of the overall analysis of the internal conditions.