Huasu Holdings Co.,Ltd:From Assets Reorganization To Non-public Offering

With the development of economy and the more and more importance of capital acting on enterprises in China, listed firms demand greatly effective solution to expand its influence capacity, promote the capital operation capacity, also to improve its market competitiveness and strategic development capacity. However, the incomplete capital market in China assumes many problems such as overmuch demands on listed companies,unreasonable ownership structure, lacking effective mechanism to promote the circulation of capital, weak capacity of capital regulation, and incomplete system of capital market, which influences much on the development of capital market and actual efficiency, and damages the profits of listed companies and shareholder. Therefore, the case of asset restructuring and equity division is discussing and studying more and more as a mainly problem on the way of capital market development in order to make it smooth and effective.Capital is the mainly energy to promote enterprise's normal operation and development, it is determinant and necessary for enterprises to obtain its enough capital to meet with the developing demand. For listed company in China, normal financing mechanisms are owner's equity fundraising and creditor's right fundraising,which will be make choose and decision by listed company operator according to its advantage and development direction.This paper takes S*ST Huasu Holding company as the object to study its successful asset restructuring process in December 2013 when it was in times of crisis of delisting,finds out the successful experience from the case of Maitian Gardens company purchasing and holding Huasu, also comments the necessity of followed private placement and its potential risk.