Analysis Of The Causes,Paths And Impacts Of The Privatization And Return Of Perfect World

Beginning in the 1990s,due to the high threshold of the domestic capital market,which cannot meet the needs of enterprises for rapid financing,and the rapid development of global integration,more and more companies in emerging industries choose to go overseas for listing instead of domestic domestic capital.market.The broad development prospects of China's economy are generally optimistic about overseas capital markets.The stocks of these overseas companies have been enthusiastically sought after,so they are called "Chinese concept stocks." However,with the rise of short selling,Chinese concept stocks have fallen into a crisis of trust on a large scale.Not only has the halo faded,but it has also been gradually marginalized.A large number of Chinese companies have chosen to delist from overseas capital markets and re-list in the domestic capital market.Perfect World completed the privatization and delisting from the US capital market in 2015,and successfully registered A shares in the following year,which is one of the classic cases in which Chinese companies choose to return to privatization.This paper starts with a theoretical perspective,sorting out the reasons for the overseas listing and the history and current status of the privatization of China Stocks.In this context,the case of Perfect World is analyzed to analyze the causes,paths and impacts of privatization.Perfect World adopts a step-by-step return approach,and arranges the perfect film backdoor listing in advance,and then completes the return by merging and acquiring Perfect World,creating an innovative path for the return of China Stocks and bringing significant synergy effects.Combined with the case of Perfect World,I hope to propose countermeasures from three perspectives,including stock companies,investors,and regulators,to provide more theoretical and practical references.