The Overall Listing Analysis Of China Merchants Shekou Share Swap Mergers China Merchants Property Development

As an important way of mergers and acquisitions in the foreign securities market,the development of stock-for-stock merge is more mature. With the gradual rise of China's capital market and the reform of split share structure, the convertible merger model in China's capital market begins to emerge, which has attracts more and more attention of business, especially in the B-share return to the wave of A shares.Domestic enterprises are also practicing this new model to expand the scale of the enterprise, listing of the target successfully.China Merchants Shekou Holdings has merged with the real estate investment in December 30, 2015, leading the new model of A+B shares of state-owned enterprises listed as a whole. China Merchants Shekou holdings by new A shares of convertible merger investment real estate A+ B shares, become the Shenzhen Stock Exchange non-listed company issued shares of convertible merger of the listed A shares and B shares in the first single case.Based on the literature research and the specific case analysis, this thesis analyzes and studies the process of the convertible merger of Shekou. Firstly, this thesis summarizes the relevant theories of the overall listing model of the company, and briefly introduces the basic information, background and significance of the merging of both China Merchants Shekou and China Merchants, and then specifically addresses the issue price of the merger plan, the determination of the convertible price and, the thesis analyzes the profitability of the convertible before and after the merger,and the wealth effect brought by the company's convertible. In order to provide some reference and suggestions for the future merger of China's enterprises through the merger case, the thesis finally analyzes the success and the shortcomings of the overall M & A plan of the case.Through the analysis of Shekou convertible merger real estate as a whole listed on the case of deep analysis, and in the review and analysis of the case at the same time,the thesis advices some important inspiration and recommendations, and points out the rationality analysis of the issue price, the stock price and the payment method of the convertible absorption process, and through the comparative analysis of the relevant financial indicators before and after the acquisition, then the thesis concludes the gains and losses of the whole acquisition process and it also provides a direction and reference for the choice of the mode of the overall listing of state-owned enterprises in the future.