A Failed Case Study Of Focus Media Network Limited Borrow Jiangsu Hongda New Material Come Into The Market

At present,Many companies want to go on the market and enter the A stock market.But in order to avoid the inconveniences of the first public offering(IPO).They chose the form of a backdoor listing.On the other hand,as the capital market is increasingly internationalized,the way of financing is also undergoing profound changes.The purpose of the borrow shell is to enter the capital market.seek development,therefore,the multi channels of financing and the establishment of a platform for sustainable development,effective reorganization of business and integration of resources.And in order to improve the level of enterprise management and the core competitiveness of enterprises,the modern enterprise management system is established.From the perspective of the capital market,two factors will lead to a gradual increase in the number of companies listed on the back of the shell,on the one hand,under the influence of long-term industrial structure upgrading,the traditional business model of some listed companies has gradually lost its ability to develop,the number of shell resources in the capital market will increase gradually.On the other hand,under the influence of macroeconomic policy,part of the real economy is confronted with financing obstacles,and enterprises hope to reach the goal of listing by borrowing the shell.This article selects the case of the return of the A shares by the Focus Media Limited Company,through case analysis and comparative analysis,the reasons for the failure of the Focus Media's HTC's new materials are analyzed.Thus in policy,selection and valuation of shell resources,and put forward the countermeasures and Enlightenment to grasp the risk in the process of restructuring.The case of the failure of the Focus Media's HTC new timber listing found the problem,pay attention to it,it can play a warning role in the backdoor listing of enterprises,and can use effective measures to avoid the risk of failure.This paper is divided into six chapters.The first chapter is the introduction.The second chapter is the related theory of the listing of the shell.The next three or fourand five chapters are the case analysis of the new materials of the Focus Media Limited Company,including the background of the Focus Media,the preparation of the backdoor listing;The analysis of the reasons for the failure of Hongda new timber shell listing and the revelation from the failure of the shell listing.The last chapter is a summary and prospect,hoping to bring a reminder to the follow-up enterprises through the analysis of this failure.