Case Analysis And Study Of The Backdoor Listing About Drain Assets Of Chengdu Xingrong Group

With the development of economic integration and informatization, merger and reorganization has become an important resources distribution form. The listed company which can get the capital from market directly is the scarce resource. The way of backdoor listing is the reorganization form which can take full advantage of listing resource. The backdoor listing is favorable for reforming the state-owned enterprises, boosting the flow and distribution of state assets and promoting the strategically adjustment of state-owned economic layout and structure. Furthermore, the backdoor listing which is the optimal path for boosting the enterprise capital expansion also can boost the development of the private enterprise and resolve some very problems such as fund shortage.There are a lot of unsuccessful backdoor listing cases, however, even though some enterprises are successful in the initial stage, they will fail ultimately because of the non-performing assets and contingent liabilities. So how to realize the objective of backdoor listing is a difficult problem to the non-listed companies.That is the original intention of this thesis. It analyzes the backdoor listing of the Chengdu drain assets deeply and summarizes the experience. This thesis includes five chapters. The first part is introduction and the next chapter is the summary on merger and reorganization theory. The third chapter analyzes the background of the backdoor listing of the Chengdu drain assets. The fourth chapter detailed elaborates the content and course of the backdoor listing of the Chengdu drain assets. At last the fifth chapter summarizes the whole case and introduces the significance of the case.The thesis mainly analyzes the backdoor listing of the Chengdu drain assets in order to find out the best way for the unlisted company to achieve the objective of becoming the listed company. It summarizes the experiences and provides some methods for the unlisted company.