The Research Of Legal System Of Private Offering Of Additional Shares Of Listed Company In Our Country

The secuities private placement is the principal element in today's world capital market and a comparatively mature financing instrument in developed countries and areas. As an indispensable part of current capital market, it shouldn't be evaded during the process of securities legislation in China. Since the US, which has already construct the most overall legal system, is the cradle of securities private placement, more and more countries are following the US steps in succession and transplanting such an institution into their respective laws.Taiwan area of China goes well in such field and ofers us much useful experience for the construction of the relevant legal system in the mainland area of China.With references to US and Taiwan area of China,This research represents its oriented legislative suggestion about how to inprove the revelent leagal system in China.Other than the preface and epilogue,the scheme of the discussion is divided into three chapters as following:The legal status of private offering of additional shares will be illustrated in Chapter one.First of all,The concept of private offering of additional shares in US,Taiwan area of China and the mainland area of China,which are reagrded as the basis of this reasearch,are definited respectively.In Chapter two, the author fully introduces the legal system of securities private offering in US and Taiwan area of China. The auther mainly analyses the detailed contents of three laws and regulations of article 4(2) in Securities Law(1933),Regulation D(1982) and Rule 144A(1990) when introduces and analyses the legal sysytem of securities private offering in US and concludes its characteristics.Howerver, when introducing the legal sysytem of securities private offering of additional shares in Taiwan area of China, the author analyses and concludes its characteristics and mainly contents based on the related regulations of Corporation Law and Securities Exchange Law in Taiwan.In Chapter three , the author summarizes issues on how to build up the legal system regarding securities private offering of additional shares in the mainland area of China.Firstly the author analyses the problems of the listed company in the process of private offering of additional shares, and then proposes a bit of specific imagine on establishing the legal system of securities private offering of listed company in our country.