Risk Control Analysis Of Enterprise Backdoor Listing

No part of the operation of an enterprise is inseparable from funds.Funds are the basis for sustainable business operations.At present,when companies seek development,their own funds are not enough to meet the needs of funds.This often requires companies to raise funds.Equity financing is favored by most companies because of its unique advantages.In order to obtain eligibility for stock financing and broaden financing channels,companies need to choose to achieve listing through an initial public offering or backdoor listing.Compared with backdoor listings,IPOs have the disadvantages of unavoidably stricter audits,more complicated processes,and longer time consuming.Therefore,since the beginning of the 21 st century,many companies have chosen to borrow already listed Of existing shell resources.However,it is worth noting that even though the backdoor listing has unparalleled advantages,due to the complexity of operations and the increasingly stringent supervision,there are still many risks that may lead to the failure of backdoors.The existence of risks is irreversible,but backdoors In order to improve the success rate of backdoor listing,the party needs to identify the risks of backdoor listing and take effective measures to control related risks.Based on domestic and foreign research on the acquisition reorganization,it is found that the current research on backdoor listing focuses on the motivation and performance of backdoor listing,and the research on the risk of backdoor listing is mainly focused on financial risks.Therefore,this article analyzes the risk control of a company's backdoor listing through the case of Saurer has important theoretical and practical significance.This paper uses case study method and comparative study method to analyze Saurer backdoor listing risk control.After sorting out the related research and theoretical basis of backdoor listing,analyze the risks and the risk control measures taken by Saurer,and compare the financial performance and non-financial performance of Saurer.First,this article begins with the research background and significance of backdoor listing risk control.It summarizes and reviews relevant domestic and foreign theoretical research on backdoor listing risk and control,and then proposes the research ideas and methods of this article.Second,Define the related concepts related to backdoor listing mentioned in this article,and explain the theoretical basis used in this article;again,introduce in detail the situation of the companies involved in the transaction,the details of the backdoor,motivation and the process of backdoor listing;on this basis,the related risks in the listing process of Saurer Backdoor are analyzed,including shell selection and valuation risks in the preparation stage,financing and payment risks in the implementation stage,and operation management in the integration stage.,Performance commitment risk,and explain the risk control measures taken by Saurer for each risk;then,evaluate its risk control measures by analyzing the financial and non-financial effectiveness,and summarize the risk of backdoor listing Control experience: Enterprises should look for high-quality shell companies when backdoor listing;comply with national and industrial policy directions;choose a reasonable backdoor listing method;find a professional intermediary team;strengthen the internal management level of the company.