Thank you very much about the IPO.

IPO is short for Initial Public Offerings**.

An initial public offering (IPO) is the first time that a private company offers its shares to the public**. Typically, shares of a listed company are sold through a broker or market maker in accordance with the terms agreed in the prospectus or registration statement issued to the corresponding ** meeting. Generally speaking, once the IPO is completed, the company can apply to be listed on the exchange or system.

Lawyers play a dual role in the IPO, that is, the maintenance of business services and market order.

Enterprises must hire a law firm as legal counsel in accordance with the law for public listing, and their main work is as follows:

1) Various documents on the restructuring and reorganization plan and the establishment of joint-stock companies, as well as the issuance and listing of various documents.

the legitimacy of the piece;

2) Assist and guide the issuer in drafting the articles of association;

3) Issuing legal opinions;

4) Issue a lawyer's work report;

5) Provide attestation opinions on relevant application documents;

6) Review the legal matters involved in the issuance and listing of enterprises and assist enterprises in standardizing, adjusting and improving.

Forget it. You boss doesn't really plan to use you, does he?? Wouldn't it be an international joke to let a person who has just graduated from the IPO business talk or operate!! This is not selling turnips and cabbage. It's not that easy.

You'd better start by asking your boss how many orders have been made in the past year??

I see. I said I couldn't let you go on your own, that would be irresponsible. The IPO process is not something that can be explained in a few words.

You can find it in the document search. The legal aspect is what we usually call due diligence in the legal part. It is nothing more than the shareholder structure, articles of association, resolutions, major contracts, whether there are legal disputes, etc.

You can refer to the list of due diligence materials for domestic A-shares. It's clear at a glance.

An IPO is an Initial Public OfferingIt is a strategy for the issuance of new shares in the primary market.

I'd like to explain a few things to you:

1. There is a big difference between an investment company and an investment bank. It can be said that there are no investment banks in China, but several large international investment banks have settled in China.

For example, the Morgan Group. Is your company a foreign company? Or a company in which a direct unit is a shareholder.

If not, then it is basically impossible for your company to do investment banking business.

Second, the IPO business is a major business related to the survival of investment banks. Generally, an IPO is made by the lead manager investment bank and a syndicate of participating investment banks. It was a lot of financiers and investment experts.

You are studying law, and if you are not a Ph.D., you may not be involved in decision-making issues. I think your head should be for you to exercise and get started. It's all about learning.

1. The issuance amount is generally calculated according to 25% of the total share capital after issuance, which is basically this number, and the fluctuation will not be very large. For example, if the company's share capital is 30 million shares before issuance, then the number of shares issued is 10 million shares. 10 million is 25% of the total share capital after issuance (30 million before issuance + 10 million after issuance).

2. The stock price is calculated based on the average price-earnings ratio of the issuing sector. (P/E ratio is defined as yes). For example, the price-earnings ratio of the small and medium-sized board is now 50 times on average, and when the company is listed, the net profit of the previous full fiscal year is divided by the total number of shares after issuance, which is the net profit per share.

Then multiply by 50, that is, the issue reference price of ** will basically not fluctuate too much. For example, if the net profit is 20 million and 40 million shares, then the net profit per share is 5 cents, multiplied by 50 times, and his issue price is about 25 yuan.

3. There is a problem of successful subscription and failed subscription, and more than 80% of the subscription is considered to be successful. If it is less than 80%, it will fail, and theoretically, the ** subscribed out will have to be recovered. This is basically not the case in China.

The issuance volume is determined by the company, but it must be approved by the regulatory authorities, and the issue price is obtained by the inquiry of the market institution, that is, the ** brokerage to decide, of course, the higher the better.

China's ** long-term supply is less than demand, there has never been a situation in history of undersubscription of new shares, if the subscription is insufficient, by the underwriting of the brokerage firm in full ** remaining part, this is called the balance underwriting issuance system.

The issuance amount is approved by the CSRC and determined based on the fund-raising plan and expected issue price of the company's IPO application.

The higher the issue price, the higher the company's net assets after issuance, the more beneficial it is to the company, and the original shareholders benefit the most, because the part of the issue price that exceeds the par amount is included in the company's capital reserve and is owned by all shareholders. The issue price is obtained by asking all institutions participating in the offline placing.

Finally, the remaining part of the undersubscription is underwritten by the underwriters of the issuance.

Introduction to the IPO Issuance Procedure:

First, a company that wants to go public must submit a prospectus to the regulator, and only if the prospectus is approved, the company can continue to be allowed to go public. (In China, the audit is carried out by the China ** Supervision and Administration Commission.) Then, the company needed to go around road shows to promote itself to the public.

After this step, some companies or institutional investors will become interested in the IPO company. They act as venture capitalists to invest in IPO companies. (Venture capital investors don't want to take a stake in an IPO company, they just want to sell ** after listing to make a difference.)

One of the financial institutions may be engaged as an underwriter for the IPO company. The underwriters are responsible for all aspects of the IPO New Offering** listing process, as well as for placing all of the ** offerings to the market. If part of the ** is not fully sold, the underwriter may have to buy all of the unsold ** or be not responsible for it (the circumstances should be specified in the contract between the IPO company and the underwriter).

The pricing of IPO IPO shares is the work of the underwriter, and the underwriter makes a reasonable valuation through a valuation model, and has the responsibility to ensure the stability of the stock price after the issuance of the new shares and does not fluctuate greatly. The IPO pricing process is divided into two parts, the first is to estimate the theoretical value of the listed company through a reasonable valuation model, and the second is to reflect the supply and demand of the market by selecting the appropriate issuance method, and finally determine**.

IPO is the English abbreviation of InitialPublic Offering, which is the abbreviation of Initial Public Offering, which means new ** listing. It refers to the first time that an enterprise or shares will have its shares to the public, and the company has not yet been listed, through the listing, all the entrepreneurs' assets can be inflated, and when they are sold, they can get a profit to expand reproduction.

The IPO needs to be completed through the cooperation of the investment bank and the issuer in the IPO market, including the pricing of new shares, the underwriting of new shares and the issuance of new shares.

The review workflow of an IPO** is divided into acceptance, meeting, questioning, feedback, pre-disclosure, preliminary review, issuance review, sealing, post-meeting matters, and approval of issuance.

In the domestic market, IPO is a form of listing of shares, and the general understanding of IPO is the meaning of listing.

An initial public offering (IPO) is the first time that a company or company makes its shares available to the public**, and usually, the shares of a listed company are sold through a broker or market maker in accordance with the terms agreed in the prospectus or registration statement issued by the respective SFC.

The full name of IPO in English is Initial Public Offerings, which translates to Initial Public Offering. It refers to the first time that an enterprise or joint-stock company has raised funds from the public to go public.

IPO can also be said to be a new stock listing, the main purpose of an enterprise or joint-stock company to issue an IPO is to go public for financing, and to expand operations and reproduction through the funds raised. At the same time, after the issuance of an IPO, the market will also give a reasonable valuation to the listed company or enterprise. Beneficial for future acquisitions and restructurings.

It is of great benefit to their competitiveness.

Of course, companies and enterprises that want to issue IPOs need to be reviewed and approved by the relevant regulatory authorities. It is not an issue that can be issued by any company or enterprise, and it is also of great significance to the whole market. For example, it strengthens the color of ** financing and further increases the valuation of the entire market.

However, for many investors, there are also numerous adverse effects of issuing an IPO. For example, it has caused the first "blood pumping", especially in the case of a market downturn and insufficient trading volume, the issuance of IPOs often leads to insufficient liquidity in the entire market.