Case Study On The Effect Of Focus Media's Back Door Listing Via Hedy Holding Co Ltd.

Since 2010,Chinese concept stocks have been frequently short-selled by overseas shortselling institutions.Therefore,many overseas listed stocks have been privatized and delisted.In 2015 alone,more than 30 companies including Giant Network and 21 Vianet began to privatize.Delisting.Many Chinese stocks began to consider ways to return to China's A-share market.Currently,the two main listing methods are IPO and backdoor listing.The research object of this paper is Focus Media,which is a member of the wave of Zhongguo stock returning to A-share market.It is also the first share of Chinese media at that time,and it has strong representativeness.Focus Media delisted from the privatization of American stocks in 2013 and chose the way of backdoor listing.Hedy Holdings was listed on December 29,2015,with a market value of 3.621 billion yuan at the time of delisting from American stocks,reaching 186.07 billion yuan at one time.It laid a solid foundation for the follow-up good development of enterprises,and also enabled shareholders to obtain excess returns,which was highly recognized by the market.Through combing the whole operation process,this paper introduces the motivation of Focus Media's listing,the preparatory work before listing and the specific trading plan for listing,and through the comparative analysis of the successful implementation of Focus Media's enterprise strategy,the promotion of enterprise value,the improvement of enterprise financial indicators and other effects after Focus Media's backdoor listing,it is concluded that through backdoor listing,Focus Media's corporate strategy can be successfully implemented.The way of listing is an excellent way for the return of Chinese stock.It summarizes the successful experience of Focus Media after backdoor listing,which can provide some operational experience and theoretical guidance for the study of other Chinese stock companies' return.