Research on the Strategy of Backdoor Listing of Chinese Enterprises

摘要

In recent years, more and more enterprises are eager to obtain the facility of huge financing or asset merger and acquisition through listing. However not all enterprises can directly take the IPO approach, many enterprises especially medium-sized enterprises have been shut out of the securities market. So there are a lot of non-listed company choose the backdoor listing (RTO) as their way. From 2013 the backdoor listing has presented a blowout situation, and the successful cases have reached at least 26, the enormous wealth effect of the backdoor listing is popular in the capital market, so it is necessary to regulate the specification of backdoor listing in the current capital market. To study the path and the strategy of the backdoor listing, we can fundamentally master the core of the backdoor listing, and have an in-depth understanding of the backdoor listing.