Research On The Problem Of Private Placement Of Listed Companies

After the equity division reform,the private placement became the first choice for equity refinancing,so we learned the benefits of private placement and avoided the problems that may arise and their importance.The positive effect of targeted private placement is positive,and it can help companies to do heavy assets.However,in the course of development,there will always be some interest-bearing behaviors.These behaviors not only fail to bring about solutions that are more conducive to the company’s effective integration of resources,but also become disguised as disguised forms.A way for the company’s major shareholders to dilute the interests of small and medium-sized shareholders will not only damage the company’s performance but also affect the prosperity of the entire capital market.Therefore,we urgently need to do some research to solve problems that may exist during the private placement.This article starts with an overview of market development and market financing in the entire market,analyzes the status quo,and then draws an overview.After that,it points out that non-market pricing,injection of inferior assets,inflated value of capital injections,and cash outflows in the private placement of listed companies in China On the basis of this problem,and based on this analysis,the causes for the unscientific pricing mechanism in China,the lack of liquidity in asset securitization,the imperfect integration of industrial chains,and the transfer of interests between listed companies and major shareholders have been proposed.The four aspects of rectification measures are to improve the corporate governance structure,improve the quality of assets injected,standardize the value-added behavior of assets assessment,and establish diversified investment channels.At the same time,the theoretical analysis was combined with the actual situation.An important example of the company was selected for the case study of Anzhong Heavy Industries,and the overall phenomenon of private placement in China was further confirmed by the case.This article manually collects relevant data as of the end of December 2016.The data is closer to the current actual phenomenon than previous studies,and the data is analyzed and classified.The basic situation of targeted issuance in recent years is analyzed to analyze the causes of the problems and problems.Suggestions for improvement,combination of points and points,combined with relevant conclusions obtained by previous researches on private placement,and at the same time,the actuality of the research has been deepened by the evidence of the case.I hope to use this point of research to standardize China’s private placement.The market phenomenon has made some contribution to the development of China’s capital market.