Studies On Back-door Listing Of Northeast Securities

Due to the rapid development of capital markets, various formats of corporatefinance are growing, listed as an important means of financing, have been of concern,backdoor listing as a non-listed IPO way for those who can not meet the IPO conditionsfor SMEs to seek a listing of good ways. The listed companies sell their net shell makingthe company who will buy the shell achieve the goal of backdoor listing. Once thebackdoor is completed, all listed business, assets and liabilities and employees of thecompany will stripped to its original parent company, it will only sold a net backdoorshell company, so the backdoor listing is a special deal, the backdoor shell company’sbusiness scope, operating results, financial condition will be a fundamental change. Moreand more companies have chosen more than a backdoor listing, and the academic studyof backdoor listing has become a hot topic, especially for backdoor model to studyaccounting treatment and after backdoor in the process of getting regulatory issues.This paper mainly research the Northeast Securities backdoor Jinzhou six land, itmainly introduces Northeast Securities backdoor listing process, and analyze the reasonsfor the change in the Northeast and the Securities backdoor listing after the backdoorlisting of the underlying financial problems, the accounting treatment of businesscombinations, etc. provide a reference for future business backdoor listing. This articlefocuses on the backdoor listing motivation, then use empirical analysis to analyzed thedilution problems after backdoor listing, financial performance issues, accountingtreatment. The dilution problem researched by the related to the model calculations, andthen come after the interests of all shareholders backdoor change, and based oninternational accounting standards, analyze accounting treatment, the impact of twoaccounting methods to the enterprise. As this article study on a unique case, the analysisis not a common problem for a large number of samples, it conducted on several aspectsof the case were analyzed separately, giving people a comprehensive understanding ofbackdoor listing, further comprehensive analysis can backdoor listing and IPO of boththe pros and cons, then they can make choices for their own company’s listing.