Research On Profit Transmission In Private Placement Of Nanjing Xinjiekou Department Store Co

In China's capital market,private placement as a new financing methodhas been widely adopted by the capital market since it was introduced in 2006 with its unique advantages,which include: Through market valuation premium to enhance the asset value of the parent company,strengthen the proportion of major shareholders' shareholding,promote the growth of high-quality leading companies,private placement of major shareholders and powerful investors can channel funds for the company to reduce the investment risk of Minority shareholders.Based on combing the major shareholder interests in the private transportation based on related literature,through the analysis of the process of the purchase and the purchase interest transportation way,analyze the causes the indemnification in the private placement,with the examples of Nanjing Xinjiekou Department Store Co.for the third time in the private placement to raise the price is low,after the issuance price increase is too large,the growth speed too fast,after raising its operating conditions are not appropriate to increase problems such as in-depth analysis.It was found that nanjing xinbai managed to obtain a lower issue price by selecting the appropriate pricing base date,cashing out after private placement by major shareholders and injecting high-priced assets by controlling shareholders.For similar interests of private transport problems from regulators,listed companies and investors three Angle are put forward to strengthen assets evaluation,improve the pricing mechanism,strengthen the regulation of distribution,standardized information disclosure and set up the mechanism of small and medium-sized investors to protect and improve the corporate governance,to raise their professional knowledge and a series of countermeasures and Suggestions to solve the problem of the indemnification.On the basis of literature review,through investigation,inquiry and other forms,this paper USES case analysis method to make an in-depth analysis on the transmission of interests of major shareholders,which is of certain enlightenment and of significance to regulatory authorities,listed companies and investors.