A Case Study On The Return Of A Shares Of The Home Inns Hotel

Since 2000,more and more Chinese companies have chosen to list overseas in order to achieve financing and because they cannot meet the listing conditions of the a-share market.However,as China's macro economy background and the influence of the us market for Chinese stocks of trust crisis,2010 years later almost shares fell in overseas markets,will gradually return to A shares in the market.Since the beginning of this year,the CSRC and the stock exchange have been vocal in supporting the listing of new economic companies,and the intention to welcome the return of the overseas premium is becoming clear.In January,the assistant director of the SFC said that it hoped to keep high-quality enterprises listed in the country.The follow-up meeting of CSRC also mentioned that it would absorb international experience and reform the listing system.The Shanghai stock exchange,Shenzhen stock exchange and Hong Kong exchange also responded positively.It has laid the groundwork for a return to the Chinese stock market,which has experienced a policy shift from tightening to an increasingly clear incentive policy.Nowadays,several well-known enterprises have completed privatization,such as Shanda games,giant network and focus media,and successfully listed in the a-share market.There has been A lot of research on the return of Chinese shares,but most of them are the way to return to A shares in the way of the shell listing.Home inns hotel group is the first through the a-share listed company directly return to China's capital markets business,so this article to home inns hotel group as an example,the probable return to A shares in the new operation mode,the hope can give for the reference is shares in other companies,and rich literature.In this paper,the general situation and motivation of this phenomenon are analyzed,and the economic consequences of the return of Chinese shares are summarized.Then,combining with the specific cases of the hotel group,the reasons,the regression process and the influence of the regression on the parent company are analyzed.Through the study found that home inns hotel group regression case has the following innovation: simultaneous delisting abroad and a list again,rather than a backdoor way to complete the material assets reorganization,auxiliary financing depends on the background of state-owned enterprises,with a share swap instead of cash.The selection of this whole path is innovative.Finally,Suggestions are made to other companies,domestic listed companies and regulators.In this paper,we hope to study the new operation mode of the a-share market and provide reference for other enterprises in need of regression.