A Case Study On The Selection And Effect Of The Double-tier Equity Structure Of M Company

In recent years,the domestic economic entrepreneurial environment has improved,information technology has developed rapidly,and high growth science and technology innovation enterprises have been paid more and more attention.However,due to domestic restrictions on listed enterprises "share the same right ",many high-quality Science and Technology Innovation Enterprise choose to go to more inclusive overseas market listing financing.After a large number of listed companies from mainlan d China and abroad have encountered a crisis of trust in the United States,Hong Kong,relying on its special historical and cultural background and its superior geographical location in the coastal area,has actively carried out the reform of the listing system and approved the Double-level Equity Structure Enterprise with Different Rights of Same Share come to the listing.There are still some differences between Hong Kong and mainland capital capital market for the introduction of double-tier equity structure.In this case,domestic enterprises with double-tier equity structure how to combine the local capital market situation,in line with the government support policy for listing,the relevant domestic research is very limited.For this reason,this paper selects the first M company listed in Hong Kong with double-tier equity structure as the case study object,Based on the analysis of the necessity of adopting double-level equity structure,the choice of listing in Hong Kong and the effect of listing are analyzed one by one.On the one hand,we hope to provide reference for other enterprises of the same type that adopt the double-layer equity structure to carry on the listing choice;on the other hand,we also hope to provide reference for further introducing the double-layer equity structure to improve the capital market environment of our country and promoting the reform of the mainland listing system.