| Generally there are limited ways of listing in our country,which are IPO and backdoor listing respectively.As for following an IPO authorization,the audit cycle is not only long for the enterprises but also too high to be able to bear.In addition it is easily influenced by the policies,so the enterprise have no choice but to continue at the risk of the big uncertaincy.So the backdoor listing win the favor of more and more enterprise with the advantage of shorter time,low cost and higher efficiency.As an inevitable outcome of the capital market,the backdoor listing has brought endless energy to the capital market.Firstly macroscopically speaking,the enlarged scale and the reasonable implement of the backdoor listing have improved the quality and economic efficiency of the listed companies.Then when we focus on the business,the management system and the corporate structure have been improved at the same time.This financing method accelerated the advancement process of the capital structure,ownership system,industrial structure and organization structure naturally step by step.Through all of these efforts,the capital efficiency has been improved,leading to a stronger and fast expanded market to the world.Therefore,it is of great theoretical and practical significance to study the rational optimal allocation of resources and realize the strategic adjustment of national economy and the leap-forward development of enterprises.Under the premise of some relevant theories of the backdoor listing,this paper choose the greenland group as the research object.After a overall analysis of the two companies,we go deep into the background and the motivation of the two listing companies,the specific plan,the procedure and the financial result of this recapitalization.In view of this successful backdoor listing case,this paper is aimed at providing more enterprises with some suggestions and lessons. |
