M公司香港上市之规范分析

发布时间：2018-05-30 07:46

本文选题：上市 + 境外上市　；参考：《上海交通大学》2012年硕士论文

【摘要】：香港证券市场作为中国大陆最近的海外市场，近年来以成为中国企业谋求海外上市，对接国际资本的重要平台。在过去的11年间，香港已经为280家内地企业成功融资达8800亿港币。目前内地注册企业（H股公司），及以内地为主要收入来源的红筹公司占全部市值的近60%。市场表现同内地经济及证券市场的关联度日益提升。进一步作为全球金融市场，凭借其稳定的交易估值体系，，丰富的交易工具，多元化的资金来源等特征，香港证券以连续多年成为全球集资最多的市场，随之吸引了越来越多的海外资金，也必将成为中国机构投资者及高财富人群全球配置资产的重要媒介。 M公司拟求香港上市，有关香港上市的一系列规范分析势必先行。本文结合M公司情景，系统地列举了境内企业上市、境外上市的好处尤其是在香港上市的优势，内容覆盖了香港证券市场的概况、境内企业在香港首发上市、买壳上市、收购兼并融资、证券市场融资工具等多个领域。当中详细介绍了内地企业在香港上市条件、流程、架构重组融资的具体操作，分析上市所涉及的各种费用和需要注意的问题，以及详述了我国对境内企业境外上市的相关规定、目前通用的各种估值方法作等。对案例公司的上市途径，融资工具，收购兼并策略，公司估值形成结论。
[Abstract]:As the most recent overseas market in mainland China, Hong Kong stock market has become an important platform for Chinese enterprises to seek overseas listing and international capital in recent years. In the past 11 years, Hong Kong has successfully raised HK $880 billion for 280 mainland companies. Mainland registered enterprises (H-shares) and mainland-based red-chip companies now account for nearly 60% of total market value. The correlation between market performance and the mainland economy and the securities market is increasing. Further as a global financial market, with its stable trading and valuation system, rich trading tools, diversified sources of capital, and so on, Hong Kong Securities has become the most funded market in the world for many years in a row. This has attracted more and more overseas money and is bound to become an important vehicle for global asset allocation among China's institutional investors and high wealth groups. M company to seek Hong Kong listing, a series of normative analysis of Hong Kong listing is bound to go ahead. This paper systematically lists the advantages of listing domestic enterprises, especially the advantages of listing in Hong Kong, and covers the general situation of the Hong Kong stock market. M & A financing, securities market financing tools and other areas. It introduces in detail the conditions, processes, and specific operations of the restructuring financing of mainland enterprises in Hong Kong, analyzes the various costs involved in the listing and the problems that need to be noted, and details the relevant provisions of our country on the listing of domestic enterprises outside Hong Kong. At present, all kinds of general valuation methods are used. On the case of the listing of the company, financing tools, acquisition and merger strategy, corporate valuation to reach a conclusion.
【学位授予单位】：上海交通大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.51

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