A Study On The Motivation And Performance Of The Market Listing Of Real Estate Enterprises

With the increasingly severe economic situation in our country,various industries have entered a new era of urgent transformation and innovative development.The huge demand for capital has made many companies to turn their attention to the capital market one after another.The capital market can greatly optimize the allocation of resources,widen the channels of financing,realize the assets reorganization of the enterprise,so as to improve the economic structure of the enterprise and promote the economic development of the enterprise.In recent years,China has paid more and more attention to the reform of the mixed system of state-owned enterprises,one of the most important things is to push forward the whole listing of state-owned enterprises,to inject social capital into enterprises,and to realize the mixed reform of state-owned enterprises.In our country,IPOs are approved,the threshold is high,the audit period is long,and sometimes closed.In contrast,the backdoor listing has the low cost,the fast speed,and the simple formalities.These advantages make the backdoor listing the first choice for many enterprises to log on to the capital market.The real estate industry has always been a popular industry of national concern,which has led to the development of various industries.However,with the introduction of the most intensive national regulation and control policies in recent years,the huge amount of funds required for the transformation and development,and the low amount of bank loans,the real estate industry has undoubtedly entered an era of urgent need to broaden financing channels and seek new models for development.It is urgent to seek further development through capital markets.According to a series of characteristics of the comprehensive IPO listing,it is not possible for the real estate industry to be listed on the market by IPO,and the backdoor listing has become the first choice of the real estate industry.This article will take the state-owned Greenland group's two backdoor listing process as the analysis object,and study them in detail,also,this article will elaborate the state-owned enterprise overall listing the merit and demerit thoroughly,unifies the case to give the concrete analysis on the theoretical basis.There are six chapters in this article.There is the exordium for the opening chapter,which is based on the background of backdoor listing and the significance of the research,clarifies theprincipal study contents and methods,and summarizes the relevant literature at home and abroad as the theoretical basis for the following article.The second chapter is the theoretical part,introduces the relevant theoretical knowledge of backdoor listing,such as its concept,motivation,mode,object selection and so on.In addition,the paper also introduces the current situation of the housing enterprises listed through backdoor,the related concepts of the whole listing and the advantages and disadvantages of the state-owned enterprises.Chapter three begins with the introduction of two backdoor listing of Greenland group.In this part,the author introduces the situation of the participants in detail,and carries out the case analysis and procedure analysis.The fourth chapter is to dissect the motivation of two cases.The fifth chapter is to elaborate the effect and risk of the two events.The last chapter gives its own conclusion and suggestions according to the above and the whole case.