Research On The Risk Management Of The IPO Project Of XX Pre-IPO Company

As for enterprises,the process of IPO(initial public offering)is unique,and the process is complicated.Elements of the project management can be found in the characteristics of IPO process,as well as it is one of the most important projects of the enterprises.The characteristics of the IPO process are costly,complicated and time consuming,as well as increasingly stringent government regulation,so it makes the IPO project more uncertain and more risk to the companies applying for A-share company.On one hand,although management of the companies applying for A-share list are more standardized,Chinese enterprise management is not standard enough,and no modern enterprise management system has yet been established,and risk management awareness needs to be strengthened.Often more attention is paid to the benefits brought about by the A-share listed companies,while ignoring the risk analysis and prevention of IPO.On the other hand,the failure of IPO projects will cause great losses to enterprises,which may directly lead to enterprises from developing,mature into recession,and have a significant impact on the enterprises.The risk management can promote enterprises to improve the decision-making management,IPO fee management and other aspects of the work,improve the success rate of IPO,and effectively prevent potential risks.This paper takes the risk management of IPO project of XX pre-IPO company as the research object.Based on the various research results of project risk management,combined with the actual situation of IPO project of A-share listed company,analyzes the problems in the risk management of the project.Considering the factor of the company applying for the A-list,we identified the risks of the IPO by checklist method and Delphi Method.We also invited some experienced experts to help us to differ the risks.After summarizing the experts’ opinions,the sources of project risks are classified into six categories:political risk,legal risk,economic risk market risk,operational risk,management risk.According to the experts’ opinions on risk factors of the project,we figure out the specific risk list.We evaluate the risk by fuzzy analytic hierarchy process.According to the above results,the risk ranks from high tolow as follows:management risk of the PRE-IPO company,operational risk,legal risk,economic risk,political risk,market risk.Put forward the countermeasures of risk factors,the paper provides valuable reference for the management of IPO with practical and pertinence.