Company Initial Public Offering Of Stock In The Stock Issuing System Research

Abstract:The function of the stock market mainly focuses on the financing and investment functions, but the current stock market stock initial public offering (IPO) is mainly used incremental issue, the emphasis is mainly play the financing function of securities market, at the same time, ignore the stock market is another important function-the investment function. While in the foreign mature capital market, the voluntary choice of market subjects based on, existing incremental issue,, also has the stock issue. Stock issued in foreign countries is a common way of new shares issued. However, because of China’s system of issuing new shares to focus more on the issuer’s financing function, therefore, the issuance of new shares has been taking incremental issue way. However, the single incremental issue is not conducive to investors exit, sometimes even evolved into a farce. This had to cause our reflection: incremental single mode distribution can not meet the current needs of the securities market, issuing system needs further perfection of the securities market. And the introduction of the stock issue can effectively improve the securities market investment function, make up for the inadequacy of the current distribution system. Therefore, if the stock issue was introduced to China in the issuance of new shares, the issuance of China’s IPO system is a very good sound. At present, the new stock issue, can avoid the excessive issuance of new shares to raise capital caused by too much, also contribute to the improvement in liquidity, eliminate market speculation factors make the IPO pricing is reasonable, limit the sale of shares to reduce the accumulation of. The issue of new shares to protect the interests of small investors as a priority among priorities, the introduction of the stock issue be imperative.In the full circulation times, the stock issue when is the direction of development, this is without a doubt, the long-term development from the market point of view, promote its practical significance of stock issued. But to ensure that the international issue eventually obtain actual effect in Shanghai and Shenzhen stock market, but must be included in the legal regulation in our country at present, market environment, regulatory mechanism, price mechanism and so on a series of realistic national conditions into consideration, and by absorbing other countries and regions in the system on the theory of experience, in order to on the legal system of design should be considered in the corresponding principles, measures, and gradually establish and perfect, will ultimately make the stock issue system to be introduced to implement.