A Case Study Of Western Securities IPO In China

With the continuous development and improvement of China’s securities market, agrowing number of securities companies through the listing to obtain funds to improvetheir own business, to expand the size of the securities company, to enhance their corecompetitiveness. The small and medium-sized brokerage is an urgent need to listed toachieve the above aims and enhance their visibility. At present there are19brokerage inthe Chinese A-share market,19listed brokerage Western Securities Co., Ltd.(hereinafterreferred to as Western Securities) Case discussed.In this paper, based on Western Securities for the case of its IPO on the road andconducted in-depth analysis of its financial position before and after the listing. WesternSecurities in May2012in the A-share market, China’s19listed securities companies, andfinancing listed on the smallest scale. Western Securities single business model, thebrokerage business income accounted for more than75%of the operating income, but itsquite obvious geographical advantages, in the west by Shaanxi Province business incomeaccounted for84.01%of the operating income. Western Securities is more prominenthighlight of the three new board business, every year a lot of money invested in thebusiness, and the set up has been professional personnel, three new board market is stillin the beginning stages, but the government has been extended three new board’s decision,the Western Securities these years has invested in three new board market leader in thelow, future income limitless.Four chapters, the first chapter of the text of the structure of an overview of theWestern securities and listed the background, Western Securities profile including theoverview of the development of the Western Securities, business conditions and otherprofiles as well as the main controlling shareholder and control and issue Overview. Western Securities Listed background includes external background and internalbackground the external background includes four aspects, namely the capital marketbackground, the background of national policy, regional environmental background andindustry environment background. Internal background analysis of Western SecuritiesJoint Stock Company’s internal financial indicators, here are mainly analyzed threeaspects of the operating environment, profitability and solvency.Western Securities listedare described, includes four aspects, the listing process, the advantages and disadvantageslisted on the eve of the IPO parity conversion process and the impact of WesternSecurities use the IPO market. The third chapter introduces western Listing of Securitieson the development, its financial analysis and risk analysis. The fourth chapter introducesthe inspiration and reference of the case.