The Research On The Going Private Of Chinese Overseas Listed Companies

Since2010，the overseas-listed Chinese companies have been suffering a crisisof confidence，which set off a wave of privatization of China concept stocks. By theend of2013，a total of81overseas-listed Chinese companies announced theprivatization of delisting，including some benchmarking enterprises of the industry，for example，Alibaba，Shanda and Little Sheep. The total amount of transaction is upto$23.4billion. Capital markets like a siege. Why there will be overseas-listedChinese companies inside，which success to list after much hard work，yearning forgoing out，while enterprises outside want to go in? How should our government，enterprises and intermediary organizations address it? This question is worthexploring. Therefore，I decided to study the issue of privatization of China conceptstocks. I will focus on analyzing its motivation and development bottlenecks，in orderto promote the sustained and healthy development of overseas-listed Chinesecompanies and contribute to perfect the capital market of our country.This paper is divided into six parts. The first part is the introduction，describingthe research background，significance，the innovation and defect of the paper；Thesecond part is the literature review and theoretical basis；The third part introduces theinstitutional background of listing overseas of China concept stocks；Part IV analyzesthe overview of the wave of privatization delisting，and then analyzes their motives；Part V puts forward the coping strategies from the perspective of the listedcompanies，regulators and the agency.Privatization delisting is rare in our country. The main contribution of this paperis having made a comprehensive study of the going private of overseas-listed Chinesecompanies. At present，there are a lot of foreign literature on privatization delistingoverseas，but few of them are specifically study China concept stocks. And theexperience of mature capital markets is not necessarily applicable to our country；Domestically，most are news reports abort China concept stocks，or researches on aspecific case，or researches on some aspect of this issue. There is basically no systematic study on the privatization delisting of China concept stocks. This paperstarts from the motivation of Chinese companies on listing overseas，then analyzes thephenomenon of the wave of privatization delisting，next analyzes their motives.Therefore，it can be said that this paper is a comprehensive study of the going privateof overseas-listed Chinese companies. Due to the limitations of my knowledge，However，there are still many deficiencies in the paper. Because going private is astrategic choice for enterprise，and it must rely on a certain degree of professionaljudgment. So it is difficult to tap the true motivation. In addition，the theoreticalanalysis is not enough. In the future，I will continue to improve myself to make up forthe defects.