Research On Payment Method Of Backdoor Listing

This article first through the backdoor listing the current literature research summary,but in terms of payment for backdoor listings of research rarely,only some of the scholars abroad have some research for this problem.This paper collects the case of shell listing in 2009-2015,and summarizes the payment method of backdoor listing.Through studying the relevant literature of the payment method of merger and acquisition,and combining the concept and characteristics of the backdoor listing,this paper tries to find out the influencing factors that influence the payment method of backdoor listing.This paper summarizes the influencing factors that influence the payment method of backdoor listing,mainly including control,cash flow,financing ability,laws and regulations,corporate characteristics and the purpose of borrowing shell.This article selects the ZhuoLang intelligent backdoor xinjiang urban construction event as a case,first of all introduces the case of both the background of the company financial status and the characteristics of the company shows the case in the selection of payment to pay for and asset replacement.Then from the above several influence factors are analyzed in this case,found from the control of dilution and cash flow constraints,financing ability,the company features,the purpose of the backdoor can explain why the Angle will make the payment in this case,is considered the above factors integrated balance would choose such a payment.The final choice of payment in case evaluation,qualitative evaluation to meet the various influencing factors,quantitative evaluation for the shell after the market reaction is good,the side illustrates the backdoor listing of the choice of payment method is correct.Finally come to the conclusion that in the process of backdoor listings,choose your payment method need to consider whether to control dilution,whether abundant cash flow,financing ability strong or weak,backdoor factors such as the characteristics of both sides and shell purpose,comprehensive backdoor listing choice of the mode of payment,payment on backdoor listings in the future choice give enlightenment.