| Along with our country economy continues to grow, gradually perfect the capital market, the enterprise will exist in the process of development financing needs, and bank loans, company endogenous financing and a series of traditional financing way is not suitable for and also can't satisfy the desire of a company for the money. IPO is one of the important way for enterprises to raise funds, the company issuing new shares can not only results for the enterprise financing difficult problem, at the same time, also for the enterprise to improve the traditional management system and management mode, prompted the company constantly updated management concept itself, for the future lay the foundation for the long-term development of the company.In recent years, the launch the growth enterprise market, a series of relevant policies and regulations introduced to accelerate the development of the stock market, all kinds of investment institutions continuously into the Chinese market. However, IPO bring opportunities at the same time, also brought a lot of risk. Due to the stock market in our country development of the actual short, there is a great gap with foreign mature capital market, and our country enterprise of new listings all problems and risks, don't quite understand, how to enable enterprises to make reasonable pricing and successfully listed, in order to broaden the financing channels, to promote the prosperity and development of the securities market, become an important problem in front of us.Taking guangzhou Wan Fu biotechnology co., LTD as the research object, analyzes its IPO pricing problem. Through to the basic situation of enterprises, industry status based on surface analysis, combined with business model, the influence of the investment subject, analyzes the risk in the stock at the same time, the equity value of the discounted cash flow method and comparable company analysis methods, such as Wan Fu company IPO pricing problem for the research and calculation, in combination with the main factors influencing the stock issue price to conduct a comprehensive and objective analysis. Considering the practical operation of the capital market IPO pricing in China and the China securities regulatory requirements for the IPO pricing factors, such as combining to analyze the advantages and disadvantages of several kinds of IPO pricing method. Find out problems, and get some enlightenment, thus to be used for reference in enterprises IPO pricing. Finally discussed about how to improve the enterprise IPO process, from the law, policy, intermediaries and provide corresponding Suggestions of themselves, promote the development of financial markets. |
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