Research On Company A’s Restructuring And The Listed Scheme

Along with stock market becoming more mature and market economy developing much faster, a new round of state-owned enterprises reforming is in-depth advancing. In the current and period of future, state-owned enterprise reform will walk into deep end and lots of challenges will come before it. It needs innovating system and policies. Currently one main of state-owned enterprise reform can be stated as enterprise listing. Through standardizing optimal path for companies listing, state-owned enterprise can select Sino-foreign joint, mutual share, mergers and acquisitions to promote reform. With introducing into reform, state-owned enterprise not only can reorganize structure, but also can optimize the organizational management, and also can perfect the operation and managing. Even like this, since the different business, industry line, specific operational effectiveness, market demand and other factors, there will be different aspect in enterprises’ management and operation. These factors are also determines the listing path choice of state-owned enterprises. At the same time, different listing models have different pre-condition requirement, so enterprises should also be equipped with different conditions for different model selecting. Basing on this, this paper suggests to state-owned enterprises that they should first define the actual situation of organization and the market in the listing process; then fully understanding and mastering the pre-condition requirement of each listing model, especially in model choice and in the going on the market phase. These two steps can help the state-owned enterprises to have the critical and key conditions of achieving to be listed company. They are also the important bases for promoting the new round reform in state-owned enterprises.Through combining the theory and practice together closely, this research will use case approach to deeply understand the current status of SOE reforming. Generally speaking, this paper will research and analyze model choice of state-owned enterprises from two main aspects: aspect one can be described as understanding the current statues and practical situation of state-owned enterprises reform; through thoroughly arranging and analyzing the actual situation of state-owned enterprises reform, basic model choice and applicable principle of each model will be illustrated simply. Aspect two: with Interest related theory’s supporting, actual situation of Gansu Province’s development and its development environment will also be combined together with the features and characteristics of SOE reform in Gansu. Then toward A company’ actual reform situation, this paper establishes the Interest related model and then 9 relative stakeholders of A company will be discussed and analyzed. Aspect three is classification analysis toward the relative stakeholders of Company A basing on three dimensions” power, legality and urgency. Basing on this, rights & interests’ claim of enterprise A’s stakeholders will be deeply discussed and corresponding methods will be given out. According to the benefit differences, this paper will evaluate why the model is the best to enterprise A in the reform proves; for arguing deeply, detail analysis and process analysis will be combined together. Aspect four is further evaluating and analyzing the final choice of enterprise A in the reforming process. With this case, this paper also summarizes the concerned factors for SOE in the reforming process. Hope this can provide some references and new visual for SOE’s reforming.The main objective of this paper is researching the above questions and utilizing enterprises A’s experiences as the case to summarize the balancing point and corresponding point for state-owned enterprises’ listing process.