What does the shell mean in backdoor listing ? What does the whole mean?

What does backdoor listing mean.

Easy to understand backdoor listing in seconds.

Backdoor listing vs. backdoor listing.

The definition and difference are: a backdoor listing is a non-listed company.

As the acquirer, it obtains a controlling stake in the Shell Company through an agreement or secondary market acquisition, and then reorganizes the personnel, assets and debts of the Shell Company, injects its own high-quality assets and business into the Shell Company, and realizes the indirect listing of its own assets and business. Backdoor listing refers to the backdoor listing of a listed company.

The conditions and definitions are different for both.

Takeover is a term used in the management of a business company that refers to the purchase of all or part of the ownership of another business by way of the purchase of all or part of the assets of another business by way of the purchase of all or part of the assets (or the acquisition of assets).

The process of becoming a majority shareholder of a company by acquiring a controlling share. Generally speaking, it refers to the economic behavior of a Minzhongshi company to obtain a certain degree of control over other companies through property rights transactions in order to achieve certain economic goals.

Legal analysis: Backdoor listing generally refers to the listing of the parent company (group company) of a listed company by injecting major assets into the listed subsidiary. Backdoor listing refers to a non-listed company as the acquirer to obtain a controlling stake in the shell company through an agreement or secondary market acquisition, and then restructure the personnel, assets and debts of the shell company, inject its own high-quality assets and business into the shell company, and realize the indirect listing of its own assets and business.

Legal basis: "The People's Republic of China Public Oak Front Judiciary (2018 Amendment)".

Article 120 The term "listed company" as used in this Law refers to its shares listed and traded on the exchange.

Article 121 Where a listed company purchases or guarantees material assets or guarantees more than 30% of the total assets of the company within one year, it shall make a resolution at the general meeting of shareholders and pass it by more than two-thirds of the voting rights held by the shareholders present at the meeting.

Article 122 A listed company shall appoint independent directors, and the specific code handling law shall be provided for by ***.

OneWhat does backdoor listing mean. What is a backdoor listing? Backdoor listing is a practice in which an enterprise achieves financing through other listed companies when it is unable to list on its own.

Backdoor listing refers to a private company that obtains a certain degree of controlling interest in a listed company with a low market value by injecting assets into a listed company (shell), and uses its listed company status to enable the parent company's assets to be listed.

What does "shell" mean in backdoor listing? Compared with general enterprises, the biggest advantage of listed companies is that they can raise funds on a large scale in the market, so as to promote the rapid growth of the company's scale. Therefore, the listing qualification of listed companies has become a "rare resource", and the so-called "shell" refers to the listing qualification of listed companies.

IISo how does a backdoor listing work? Backdoor listing is to obtain a controlling stake in the listed ST company through acquisition, asset replacement, etc., and the company can raise funds in the form of additional issuance of the listed company, so as to achieve the purpose of listing. Due to the incomplete transformation of some listed companies' mechanisms, they are not good at operation and management, their performance is not satisfactory, and they have lost the ability to further raise funds in the market, in order to make full use of the "shell" resources of listed companies, it is necessary to reorganize their assets, and the backdoor listing and backdoor listing are two forms of asset restructuring that make more full use of listed resources.

A backdoor listing refers to the listing of the parent company (group company) of a listed company by injecting its main assets into the listed subsidiary, and one of the typical examples of backdoor listing is the "mother" of Johnson & Johnson Group.

Backdoor listing generally refers to the listing of the parent company (group company) of a listed company by injecting its main assets into the listed subsidiary.

Shell listing is when a non-listed company obtains a controlling stake in a shell company as an acquirer through an agreement or a secondary market acquisition, and then reorganizes the personnel, assets and debts of the shell company, injects its own high-quality assets and business into the shell company, and realizes the indirect listing of its own assets and business.

Article 2 of the Administrative Measures for the Acquisition of Listed Companies stipulates that the acquisition of listed companies and related changes in share rights and interests must comply with laws, administrative regulations and the provisions of the China Securities Regulatory Commission (hereinafter referred to as the China Securities Regulatory Commission). The parties shall be honest and trustworthy, abide by social morality and business ethics, consciously maintain market order, and accept the supervision of the public and the public.

Legal analysis: The definition of backdoor listing is that after the company obtains control of a listed company through acquisition, asset replacement and other parties, it uses its status as a listed company to achieve the effect of listing the parent company. The acquirer of a listed company may adopt a tender offer, a negotiated acquisition and other legal methods, and after the completion of the acquisition, the acquirer shall announce the acquisition.

Legal basis: ** Law of the People's Republic of China

Article 62 An investor may acquire a listed company by means of a tender offer, a tender offer or other lawful means.

Article 76 After the completion of the acquisition, if the acquirer merges with the acquired company and dissolves the company, the original ** of the dissolved company shall be replaced by the acquirer in accordance with law. After the completion of the preparation of the acquisition, the acquirer shall report the acquisition situation to the supervision and management authority within 15 days***** and make an announcement.