Studies On Back-door Listing Of Meinian Onehealth Healthcare Holdings Co.,Ltd.

In the second half of 1800s,Mergers and Acquisitions of companies,a model of capital operation,made their debut in the international market.Since then,there have been 5 rounds of such consolidation and purchasing whose content and forms have been enriched during the process.In 1934,backdoor listing,a kind of corporate Mergers and Acquisitions,appeared in the western capital market and gradually won the recognition of market entities.As China’s capital market develops,it is inevitable for enterprises to go public for their sustainable development.However,due to the uniqueness of China’s capital market,choosing to be directly listed through IPO is difficult,costly and time-consuming.Therefore,many enterprises begin to try another indirect route---backdoor listing.This paper focused on Meinian Onehealth Healthcare Holdings Co.,Ltd.,a company that managed to become an listed one in Jiangsu Sanyou Group.Firstly,this paper sorted out previous studies about backdoor listing through literature research,trying to find out relevant theories.Secondly,it explored the process of backdoor listing and through event study,evaluated relevant cases.At last,based on the information collected and data available,this paper,from the following perspectives:features of the target company,the design of the listing plan,the capital evaluation of two companies involved,the timing of listing and the impacts of Mergers and Acquisitions during the listing process,analyzed the successful backdoor listing of Meinian Onehealth Healthcare Holdings Co.,Ltd.through the method of studying financial indicators and other aspects of the original company and summarized experiences and lessons from this backdoor listing.The reasons that we choose to focus on Meinian Onehealth Healthcare Holdings Co.,Ltd.are that on the one hand,it is one of those companies that lead the health examination industry,which means that its successful listing is representative in this area;on the other hand,during its preparation for listing,this company also purchases the stock equity of CiMing Health Checkup Management Group Co.,Ltd.,which makes the listing of Meinian Onehealth Healthcare Holdings Co.,Ltd.very special.