Case Research On Nanjing Pharmaceutical Introducing Foreign Strategic Investors In Private Placement

With the gradual deepening of China's reform and economic globalization,more and more foreign enterprises have entered the Chinese market,invested and cooperated with our enterprises,foreign strategic investors have gradually become a trend.At first,foreign strategic investors mostly invested in our banks,but China's capital market is improving,the investment and cooperation of overseas enterprises gradually extended to various industries.The introduction of foreign strategic investors can help enterprises improve the corporate governance structure,strengthen the business restraint mechanisms,improve the capabilities of technology development,enhance corporate image and corporate performance,etc,therefore,China encourages and supports the right and appropriate introduction of foreign strategic investors.How to introduce foreign strategic investors is worth the attention of enterprises,after the implementation of equity reform in China,because the low cost of issuance,simpler operation procedure and lower access threshold,private placement has been widely recognized by listed companies in China and has become the most important mode of equity refinancing in China's capital market.As the object of private placement includes foreign strategic investors,the increasing behavior of Chinese listed companies to introduce foreign strategic investors by means of private placement,and the problems have also been followed.Therefore,the research on the introduction of foreign strategic investors by the use of private placement model has also increased.In this thesis,the literature on private placement and the introduction of foreign strategic investment is reviewed and studied,on the basis of elaborating the related concepts and theories of private placement and foreign strategic investors,this thesis analyzes the case of Nanjing Pharmaceutical's introduction of foreign strategic investors through private placement.In the analysis of the introduction of foreign strategic investors to Nanjing Pharmaceutical in private placement,the first part introduces the basic situation of Nanjing Pharmaceutical and strategic investors,the background and process of private placement,then focus on the analysis of Nanjing Pharmaceutical private placement to foreign strategic investors motive,the choice of foreign strategic investors,the reasons why the company has chosen to introduce foreign strategic investors by means of private placement,and the impact on the governance,business,finance,financing,investment and secondary market to test effect of introduce foreign strategic investors in private placement.And finally draws inspiration and thinking on this case,which can provide some reference for the private placement of non-bank financial enterprises in China to introduce foreign strategic investors.