How long does it take for a limited liability company to complete its initial listing from share res

The timing of this is uncertain. Listing requires a lot of conditions, assuming that the company has met the listing conditions, that is to say, there is no other problem that affects the progress of the listing, then from the limited liability company restructuring to shares, about at least three months is the counseling period, at present, the local securities regulatory bureau has no hard regulations on the counseling period must be three months, but in fact, too little time is not good. After counseling and acceptance, you can submit the listing application materials to the CSRC, and it will be accepted within five working days.

Then it enters the preliminary review stage, which belongs to the internal review stage of the CSRC until it is approved by the issuance review committee. Before this stage, it was very uncertain, but according to the spirit of the CSRC's new issuance reform policy, a review opinion will be given within three months, including whether it is approved or rejected or suspended, and the three-month period does not include the time for supplementary materials. If approved, the China Securities Regulatory Commission will issue an approval document agreeing to the issuance and listing, which will take one or two months from past experience.

After that, it is necessary to apply to the exchange for issuance and listing, which is relatively fast, and can be completed within half a month to a month.

The company plans to make an initial public offering and be listed on the domestic exchange, and has accepted the counseling of CITIC ** shares, and has been registered with the Jiangsu Supervision Bureau of the China Supervision and Administration Commission.

Legal analysis: The specific situation of different companies is different, and the time from restructuring to issuance and listing of enterprises should depend on the specific circumstances, and the overall time is more than one year. Under normal circumstances, the approximate time of each phase is:

It takes about 6 months from the planning of the restructuring to the establishment of a limited liability company, and the time for the overall change of a standardized limited liability company to a share can be shortened; It takes about 3 to 4 months for sponsors and other intermediaries to conduct due diligence and prepare application documents; It theoretically takes about 3 to 4 months from the CSRC's review to the issuance and listing, but the actual operation time is often about 10 months. However, it can be seen from the above that the preparation time for listing varies from enterprise to enterprise, and it is difficult to generalize, and sometimes it has a lot to do with the personality characteristics of the top leader of the enterprise and the professionalism of the intermediary agency.

Legal basis: Article 15 of the ** Law of the People's Republic of China The public issuance of corporate bonds shall meet the following conditions: (1) have a sound and well-run organizational structure; (2) The average distributable profit in the last three years is sufficient to pay the interest of the corporate bonds for one year; (3) Other conditions for promotion.

The funds raised by the public issuance of corporate bonds must be used in accordance with the purposes of the funds listed in the measures for raising corporate bonds; A change in the use of funds must be resolved by a meeting of bondholders. The funds raised by the public issuance of corporate bonds shall not be used to cover losses and unproductive expenditures. In addition to meeting the conditions specified in the first paragraph, the issuance of corporate bonds by listed companies that can be converted into ** shall also comply with the provisions of the second paragraph of Article 12 of this Law.

However, according to the measures for raising corporate bonds, the listed company excludes the conversion of corporate bonds by acquiring the company's shares.

For different companies, the time from restructuring to issuance and listing of enterprises should depend on the specific circumstances, and the overall time is more than one year. Under normal circumstances, the approximate time of each stage is: from the planning of the restructuring to the establishment of shares, it takes 6 months, and the overall change of the standardized limited liability company to shares can be shortened; It takes about 3 to 4 months for sponsors and other intermediaries to conduct due diligence and prepare application documents; It theoretically takes about 3 to 4 months from the China Securities Regulatory Commission's review to the issuance and listing, but the actual operation time is often about 10 months.

However, it can be seen from the above that the preparation time for listing varies from enterprise to enterprise, and it is difficult to generalize, and sometimes it has a lot to do with the personality characteristics of the top leader of the enterprise and the professionalism of the intermediary agency.

Enterprises can apply for listing if they meet the conditions for listing, and there is no time limit. The conditions for a joint-stock company to be listed nationwide are: the total capital is not less than RMB 30 million, etc. According to the relevant laws and regulations, the financing of listed companies can be through the issuance of **, or this is the most direct financing method.

Article 50 of the ** Law of the People's Republic of China.

The following conditions shall be met when applying for listing of shares:

1) ** Approved by the ***** supervision and administration authority has been publicly issued;

2) The total share capital of the company shall not be less than RMB 30 million;

3) The shares to be 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 to be issued to the public shall be more than 10% of the shares awarded by Liang;

4) The company has no major violations in the past three years, and there are no false records in the financial accounting report.

**The Exchange may stipulate listing conditions that are higher than those specified in the preceding paragraph, and report to the ***** regulatory authority for approval.

The next procedure after the completion of the domestic listing share reform is to report to the provincial securities regulatory bureau for "listing counseling", which is generally 6-12 months, and if the intermediary has a good relationship in all aspects, the shortest can be 3 months. Of course, there are also counseling periods of more than 18 months. After the end of the counseling period, the listing materials are submitted to the China Securities Regulatory Commission, and the CSRC will arrange for the issuance examination committee to review after receiving the materials.

If it can pass the meeting, then the next step is to list on an elective date. If there is no meeting, there will be a second chance in half a year, and if it is still denied, it will be difficult to say in the future.

The definition of share reform is the reform of equity division of listed companies, which is the process of eliminating the institutional differences in the transfer of shares in the A** field through the negotiation mechanism for the balance of interests between shareholders of non-tradable shares and shareholders of tradable shares. There are four forms of equity setting: state shares, corporate shares, individual shares, and foreign shares.

The operation process of the share reform basically includes seven steps, namely: formulating the implementation plan for enterprise restructuring, carrying out asset verification and capital verification, defining the property rights of the enterprise, conducting asset evaluation, conducting financial audit by an external accounting firm, subscribing and capital contribution of the enterprise, and finally applying for registration. Share reform is an important institutional reform of China's capital market, and its full name is equity division reform.

1. The enterprise shall formulate the implementation plan for the restructuring of the enterprise, and the shareholders shall initiate the shareholders' meeting to discuss and make the final decision.

2. The enterprise should carry out asset verification and capital verification, that is, all the property, materials and money transactions of the enterprise shall be counted and verified.

3. Enterprises should define the property rights of their state-owned assets, clearly divide the ownership of enterprise property, the right to income, the right to use (the right to operate) and other property rights in accordance with the law, and clearly define the scope of rights of various property rights subjects.

4. Enterprises should conduct asset evaluation, scientifically evaluate the present value of enterprise assets according to statutory standards and processes, and confirm them in the form of reporting brothers' notices.

5. Enterprises should apply for legally qualified accounting firms to audit the assets, liabilities, owners' equity and profits and losses before the restructuring of the enterprise.

6. The amount of capital contribution subscribed by the enterprise includes two aspects: one is the conversion of the original assets before the restructuring of the enterprise, and the other is the new subscribed capital injected.

7. The enterprise applies for registration with the administrative department for industry and commerce and obtains a new business license.

Legal basis]:

**Article 4 of the Interim Regulations on the Administration of Issuance and Trading.

The issuance and trading of ** shall safeguard the dominant position of socialist public ownership and ensure that state-owned assets are not infringed upon.

1) Overall restructuring. That is, based on all the assets of the enterprise, through asset restructuring, the overall transformation into a standardized enterprise that meets the requirements of the modern enterprise system;

2) Partial restructuring. That is, the enterprise reorganizes with part of its assets, and establishes a new enterprise by absorbing the investment of other shareholders or transferring part of the equity, and the original enterprise continues to be retained;

b) Other means.

Article 9 of the Company Law of the People's Republic of China.

The change of a limited liability company into a share shall meet the conditions for the shares of the year specified in this law. If the shares are changed to a limited liability company, they shall meet the conditions of the limited liability of the public rock cover company stipulated in this law.

If a limited liability company is changed to a share ****, or a share **** is changed to a limited liability company, the creditor's rights and debts before the change of the company shall be inherited by the company after the change.