What does the IPO counseling period mean?

Before listing, the issuer should be counseled. The sponsor and its sponsor representative shall follow the principles of diligence, honesty and trustworthiness, conscientiously perform the duty of prudent verification and counseling, and be responsible for the authenticity, accuracy and completeness of the sponsorship letter issued by them.

In order to ensure the implementation of the issuance approval system, improve the quality and standardized operation level of the initial public offering company, and ensure that the sponsor institutions (sponsors) engaged in counseling work perform their duties in accordance with the law in the process of initial public offering, the China Securities Regulatory Commission implemented the "Administrative Measures for Initial Public Offering and Listing" and the "Administrative Measures for the Sponsorship Business of Issuance and Listing" in May 2006 and December 2008 respectively.

The counseling period for the listing of an enterprise refers to the fact that the sponsor institution shall provide counseling to the issuer before recommending the issuer's initial public offering and listing, and conduct systematic training on the legal knowledge and market knowledge of the issuer for the directors, supervisors and senior management of the issuer, shareholders holding more than 5% of the shares and the actual controller (or their legal representative).

Make it fully grasp the relevant laws, regulations and rules of issuance and listing, standardized operation, etc., know the responsibilities and obligations of information disclosure and performance of commitments, and establish a sense of integrity, self-discipline and legal awareness to enter the market. After the completion of the counseling work of the sponsor institution, the China Securities Regulatory Commission dispatched agency where the issuer is located shall conduct the counseling and acceptance.

Listing counseling is actually a role for large securities firms to help companies sort out relevant organizational structures, financial disclosures, and legal personality audits, and establish a consulting service function that conforms to the rules of the market.

This includes a lot of detailed work, which is involved in the enterprise from the beginning, and is generally carried out according to the actual situation of the enterprise

1. Counseling for the listing process of enterprises.

1. Choose the target and gain trust.

2. Help draft the listing proposal plan.

3. Approval of the Board of Directors.

4. Financial integration.

5. Asset restructuring (disposal of non-performing assets).

6. Establishment of overseas offshore companies.

7. Hearing. 8. Roadshow (product launch, IPO) 9. Listing. We will participate in all of these sessions; Of course, this also includes the following participation:

2. Listed participating institutions.

1. Sponsor and sponsor self-organization.

2. International accounting firms.

3. International evaluation agencies.

4. Audit. 5. Lead and sub-underwriters.

6. Public relations.

7. Printers.

8. Domestic and foreign lawyers.

9. Global Coordinator.

Involved throughout the mentoring period, it will work with such a large number of structures to select the right location for global evaluation and select the right time for investors to go public.

The counseling period for listing is one year, and the counseling period starts from the date of filing and registration by the dispatched agency and ends on the date of issuance of the regulatory report by the dispatched agency.

According to Article 4 of the Measures for Counseling for Initial Public Offerings, the counseling period is at least one year. The counseling period starts from the date of filing and registration of the dispatched agency after the counseling institution submits the filing materials to the dispatched agency of the China Securities Regulatory Commission where the counseling object is located, and ends on the date when the dispatched agency issues the regulatory report.

Generally, the listing counseling period is 3-12 months to listing. The time required by different listed companies may not be the same. However, all the listing of enterprises is roughly divided into "restructuring stage", "counseling stage", "application stage" and "first issuance and listing stage".

If a company wants to be successfully listed, it must meet certain conditions, such as the listed company must be a shareholding company, the company's equity is relatively clear, the company's rules and regulations are sound, the company's total share capital is not less than RMB 50 million, and the business has been in business for more than three years and has been profitable for three consecutive years.

After the company goes public, it can get a financing fund, which is very useful for the development of the company. After the company goes public, it also improves the visibility of the company and allows more people to understand the company. Moreover, it is also helpful for the follow-up business of enterprises.

After the company goes public, it can also mobilize the enthusiasm of employees.

After the company is listed, any investor can buy it, and after becoming a shareholder, you can also enjoy dividends, but you will face certain risks in the process of buying and selling, and the possibility of losing the principal is relatively high. Therefore, it is best for users to use their personal spare money when investing, even if they lose money, it will not affect their normal life.

Extended information: 1. The conditions for the company's listing are as follows:

1. Only joint-stock companies are qualified for listing, and limited liability companies are not qualified for listing;

2. To apply for a listed company, the company must have been operating for more than 3 years, and has not changed directors or senior management within these three years, and the company's operation is legal and in line with national laws and regulations;

3. There is no false capital contribution in the registered capital of the listed company, and there is no evasion of funds;

4. The registered capital of the listed company is at least 30 million, the public shares are more than 1 4 of the company's total shares, the total share capital is at least 400 million yuan, and the public shares are more than 10%.

Second, the company must go through the process of listing:

1. Share restructuring (2-3 months): sponsor, divestment and reorganization, three-year performance, capital verification registration, asset evaluation. 2. Listing counseling (12 months):

Three-meeting system, business structure, four-period report, teaching counseling, counseling acceptance. 3. Preparation of issuance materials (1-3 months): prospectus, brokerage recommendation report, issuance recommendation, listing recommendation, project feasibility study report, pricing analysis report, audit report, legal opinion.

4. Brokerage kernel (1-2 weeks): on-site investigation, problems and rectification, kernel checklist, kernel opinions.

6. Issuance and review meeting (1-2 weeks): communication at the meeting, material review, discussion at the meeting, and voting approval.

7. Preparation for issuance (1-4 weeks): pre-roadshow, valuation analysis report, promotion material planning.

8. Issuance implementation (1-4 weeks): publication of prospectus, roadshow promotion, inquiry and pricing, and ** sale.

10. Continuous supervision (2-3 years): regular contact, information disclosure, and follow-up services.

It is still uncertain, listing counseling is a stage that has been entered by applying for listing, and listing has to go through six stages.

The six phases are:

1.Establishment of a joint-stock company;

2.pre-IPO counseling;

3.**Preparation for issuance;

4.Preparation of application materials for declaration and review;

5.** and issuance, review after the decision to issue;

6.**Listing and Subsequent Pricing.

According to the regulations of the China Securities Regulatory Commission, the time for counseling for first-time listed enterprises is at least one year, and the listing counseling refers to the standardized training, counseling and supervision of the relevant institutions on the shares to be issued and listed. The listing counseling institution shall be served by the qualified ** business institution.

In the past two years, equity investment before pre-IPO listing has been very popular in the market, firstly, the review speed of IPO listing has accelerated, a large number of companies have rushed to apply for listing, and the probability of listing has increased significantly. Second, because the risk of investing in a quasi-IPO listed company is relatively small, a large number of philatelic parties are aiming at companies that enter the IPO counseling period, planning to lurk in advance and make a lot of money when they are listed. The answer is no!

Not necessarily! This negation and not necessarily based on 2 points! The first point is that not all companies that enter IPO counseling are counseled for the purpose of listing, and some listing counseling is just to look better in the capital investment market, and to put it bluntly, it is for investors. For example, if a company is ready to raise funds, if it issues an announcement to the market in advance about its own listing counseling, then the success rate of financing will be greatly improved, and many institutional and individual investors will favor companies with listing plans.

The second point is that even if a company's listing counseling is indeed for the purpose of listing, it has really been declared, but who told you that it will definitely be able to go public? Listing is far from being so simple, it is said that the listing can be listed, and all aspects of the enterprise must meet the standards, what is the purpose of IPO listing counseling? It is to standardize the qualifications of all aspects of the enterprise to meet the standards of listing, but this standard does not mean that a company will be listed as long as it is listed for guidance, and it can only be listed after the approval of the Issuance Examination Committee of the Securities Regulatory Commission!

The main thing is to counsel them on how to be a listed company, how to make the company bigger and stronger, and also to counsel them on some financial, tax, and legal knowledge.

Counseling is some ** and brokerage knowledge, everyone can be more proficient in this aspect, so that they can invest and manage their finances.

In this case, it is usually a tutorial for future ideas, and at the same time, some relevant basics will be tutored to prepare for future planning.

Generally speaking, the company will go public about 3-12 months after the listing counseling.

In accordance with the relevant regulations, the sponsor institution needs to counsel the company for a certain period of time before recommending the issuer's initial issuance and listing, and the China Securities Regulatory Commission has not made hard and fast regulations during this counseling period, but the sponsor institution should do its best to provide guidance to the company to be listed, and improve the overall quality and operation level of the company to be listed, and standardize the company's system management.

Extended information: Listed company refers to the shares that are publicly issued and approved by the management department authorized by *** to be listed and traded on the **exchange. The so-called non-listed company refers to its shares that are not listed and not traded on the exchange.

A listed company is a kind of shares, and this kind of company must meet certain conditions in addition to being approved for listing and trading on the first exchange.

Listed companies have the following characteristics:

1) Listed companies are shares****.

2) Listed companies must be approved by the competent authorities.

3) ** issued by listed companies is traded on ** exchange.

According to the provisions of China's "Company Law", the following conditions must be met when applying for listing of shares:

1. ** With the approval of the ***** management department, it has been publicly issued to the public;

2. The total share capital of the company shall not be less than RMB 50 million;

3. The business has been open for more than three years, and it has been profitable for three consecutive years; Where a former state-owned enterprise is established through lawful reconstruction, and its main sponsor is a large or medium-sized state-owned enterprise, it may be counted continuously;

4. The number of shareholders holding a face value of more than RMB 1,000 is not less than 1,000, and the shares issued to the public reach more than 25% of the total number of shares of the company; If the total share capital of the company exceeds RMB 400 million, the proportion of shares issued to the public shall be more than 15%;

5. The company has no major violations within three years, and there are no false records in the financial accounting report;

6. Other conditions stipulated in ***.

In addition to the above requirements, it is also necessary that there have been no major changes in the issuer's main business, directors and senior management in the past three years, and there has been no change in the actual controller; The registered capital of the issuer has been paid in full, the procedures for the transfer of property rights of the assets used by the promoters or shareholders for capital contribution have been completed, and there is no major ownership dispute over the main assets of the issuer; The production and operation of the issuer complies with the provisions of laws, administrative regulations and the articles of association of the company, and conforms to the national industrial policy; There must be no major violations of the law within the last three years.

After applying for listing, the company needs to enter a period of listing counseling to ensure the quality of listing counseling, improve the quality of the company to be listed and standardize the level of operation, and the general listing counseling cycle is 3-12 months.

According to the regulations of the China Securities Regulatory Commission, the time limit for counseling for IPO companies is at least one year. The specific calculation starts from the date of filing and registration of the dispatched agency after the counseling institution submits the filing materials to the dispatched agency of the China Securities Regulatory Commission where the counseling object is located, and ends on the date when the dispatched agency issues the regulatory report.

Generally, the listing counseling period is 3-12 months to listing. The time required by different listed companies may not be the same. However, the listing of all enterprises is roughly divided into "restructuring stage", "counseling stage", "application stage" and "** issuance and listing stage".

The common conditions for a company to be successfully listed must be a joint-stock company, the company's equity is relatively clear, the company's rules and regulations are sound, the company's total share capital is not less than RMB 50 million, and the business has been in business for more than three years and has been profitable for three consecutive years.