Study On Backdoor Listing In Pricing

Corporates can solve the fund shortage problem, support thecompany's long-term and stable development and form a positive capitalcycle through listing; It can improve the visibility, access to the brand effect,the accumulation of intangible assets; also enjoy policy support to improvethe company's industry competitiveness. This makes our country a lot ofcompanies are eager to stock market listing of the door knocking. However,due to market conditions and policy constraints, many enterprises can't belisted through an initial public offering, which greatly hampered theirdevelopment. Therefore, the shell company's securities market has becomescarce resources, many companies with limited-especially privateenterprises, can only be achieved indirectly through the backdoor listingpurposes.The first step of backdoor listing is to choose a good "shell", that is anet shell company, then become public indirectly through theimplementation of the acquisition and reorganization of assets, issuance ofnew shares, the core of which are the shell company and the value of assets.This is the core into the shell company and the value of assets to be valued.Backdoor listing in the pricing problem involves two aspects, one is theshell resource pricing, and the other is to be injected into the pricing ofassets. Currently, the backdoor is not defined in the academic communityunity, coupled with the behavior of the market vary in backdoor listing,pricing of shell resource is a very complex issue, is not yet formed a unifiedview of the subject. Assets to be injected is difficult to get uniform pricingmethod, the traditional method has its limitations, the operability of the new method not strong. Therefore, the backdoor listing on the stock market inpricing has become hot.This paper sort out the backdoor listing of relevant theory and literaturereview, defining the shell resource, shell companies, backdoor listing of thebasic concepts and then describes the backdoor listing of some involved inthe pricing methods used, and sent through the backdoor listing Sea landSecurities and Suntek Technology program to further of the pricingmethod.This paper aims to provide a clear understanding that how to price forbackdoor listing and provide useful help for those who work at the securityand scholars engage in backdoor listing.