Private Enterprises Listed Overseas Risk Analysis And Countermeasures Research

Overseas IPO is the behavior that the Chinese domestic enterprise apply to the stock exchange authorities or Stock Exchange House of other countries or regions for public listing and trade there.October 9, 1992, Brilliance Auto list in the New York Stock Exchange as red chips is the first Chinese enterprise Overseas IPO activity. And private enterprises listed overseas began in February 17, 1999 when Qiao Xing Universal landed U.S. Nasdaq market. since then, the private companies began to aggressively list in overseas stock markets. so far, there has been about 700 private companies list overseas.Many private enterprises invest huge resources for listing overseas, and results are very significant. in 2010, a total of 126 private enterprises achieve to list overseas, only in the second week of December, seven Chinese companies clustery list in the U.S. market in five days time; on the other hand, a delisting tide has become a new phenomenon in recent months, 2011 January 1 to September 15, 26 Chinese companies delisting from U.S. stock market, financial fraud is the main reason.In this paper, the study is focus on the risk management of private enterprises listed overseas , first, classify based on the evolution of the oversee policies, we can divided 12 years course of the private enterprises listed overseas into five different development stage, panoramic description of the private listing process. And take the private enterprises list overseas risk measures into the National economic policies and the evolution of regulatory systems into account, which helps to fully understand the risks of the listing overseas process before and after. This paper discusses many cases of listing overseas, analysis of the private enterprises listed overseas passage steps. The first chapter presented the background of the thesis and writing ideas; ChapterTwo combed the profile of private enterprises listed overseas, focusing on a comparative analysis of the ways and concepts of listing overseas; the third chapter, summarizes The evolution of regulatory systems based on plenty of cases study, and proposed the common mode of overseas listing under the current regulatory system; ChapterⅣsummarizes and comparativeanalyses the conditions of the major overseas stock market; chapter V focuses on analysis of the risk before overseas listing and coping strategies; the sixth chapter focuses on analysis of the overseas listing of risks and coping strategies.Based on comprehensive analysis, To study the process of risk and countermeasure, This paper hopes to provide some reference to private enterprises overseas listing.