A-Share Absorption And Merger B-Share Model

In 1991,the B share market was formally established.This year is the 27th year of the establishment of the B share market.Compared with the A share market and the H share market,the B share market was established only A few years later.In addition,in recent years,the financing function of b-share market has gradually weakened,and it is time to exit the stage of history.To this,B-share company also began self-redemption.The B share enterprises that need reform are very stable and the only choice to change the status quo of enterprises.Therefore,this paper analyzes several modes of stock-for-stock merger,and focuses on one mode to analyze its innovation and shortcomings.At the beginning of this paper,the research background and significance of this paper were introduced,and through the review of the relevant literature at home and abroad,find out the relevant case study and innovation and shortcomings of the merger of stock-for-stock absorption at home and abroad.Next is the relevant theoretical elaboration and analysis of A-share market absorption of B-share market factors.The innovation of this article lies in not only analyzes the Shanghai urban construction investment holding co.,LTD.(hereinafter referred to as:urban construction investment holding)absorption merger Shanghai YangChen investment co.,LTD.(hereinafter referred to as:YangChen B shares)or "A+B" turn "A+A"model,also analyzed the absorption merger of the other two modes,respectively is "A+B"turn A shares listed on the overall pattern and pure B shares transfer a-share mode,and analyzes their respective characteristics.However,this paper mainly takes the case of urban investment holding's absorption and merger of yangchen B shares for in-depth analysis,and takes this model as the main research point.In terms of specific case analysis,this paper analyzes the rationality and deficiency of the merger from three aspects:the rationality of the share price and the proportion of the merger,the evaluation of the financial effect before and after the merger and the rationality of the cash option.The reason why this paper mainly analyzes the absorption and merger of yangchen B shares by urban investment holdings is that this absorption and merger created the first capital market "A+B" to "A+A" mode.Finally,it is hoped that the analysis of these three models can provide a direction for the future development of the remaining 99 b-share enterprises and provide a reference and guidance for their reform.