Introduction to International Capital Markets
U.S. Stock Market
Requirements: registration-based IPO system (no income and profit restrictions for innovative companies and companies with good development prospects)
Time cost: it cost generally 6-9 months for IPO, shorter for RTO
Advantage: investors are mainly institutional investors, (large financing volume), flexibility in refinancing after listing
Market Openness: Brings together outstanding companies from all over the world, highly free and open
Hong Kong Stock Market
Requirements: combination of registration-based verifying-based system (higher threshold for listing)
Time cost: the listing process is relatively fast, but slower than the US
Advantage: international capital market, relatively free and open
Market openness: international capital market, relatively free and open
A-share Market
Requirements: verifying-based system (limited listing resources, high listing thresholds, and many requirements)
Time cost: uncertain, generally 2-4 years
Advantage: the market value of A-share listing is higher
Market openness: for domestic companies, relatively closed
Listing Method
IPO
SPAC
DPO
RTO
The world's major stock exchanges
National Association of Securities Dealers Automated Quotations
National Association of Securities Dealers Automated Quotations(NASDAQ) is the world's earliest and largest over-the-counter stock trading market, all of which adopts computer network trading (no stock trading hall); NASDAQ is an independent exchange derived from a subsidiary of OTC Securities Trading Group, with the largest amount of financing 1. The number one trading volume, with an average price-earnings ratio of 30 times; global companies can be listed on NASDAQ and are subscribed and traded by global investors.
New York Stock Exchange
The New York Stock Exchange (NYSE) is the world's largest listed company in terms of total market capitalization (2009 data), first in the number of IPOs and market capitalization (2009 data), and second in trading volume (2008 data) Exchange. There are approximately 2,800 companies listed on the NYSE with a global market value of US$15 trillion. As of July 2004, 30 companies in the Dow Jones Industrial Average were listed on the NYSE except Intel and Microsoft. NYSE is still operating On the Wall Street trading hall, ringing the opening bell is a permanent custom of NYSE trading.
OTC Securities Exchange Market
OTC Stock Exchange Market (OTC Markets) was established in 1904. It is the world's earliest organized over-the-counter securities market. It is commonly known as the Growth Enterprise Market and does not require profitability. The initial IPO does not require public offerings. OTC Markets is relatively loosely regulated. , Listing is a filing system, and most companies go public by buying shells and backdoors. The listing time on OTC Markets is short, usually 3-4 months (compared to IPOs generally between 12-16 months), and transfer to NASDAQ Or the New York Stock Exchange is relatively simple and easy. It takes 4 to 6 weeks to meet the requirements to apply for transfer. So far, OTCMarkets has 6,700 listed companies.
Hong Kong Stock Exchange
Hong Kong Stock Exchange (HKEX) is a trading company recognized by the Hong Kong Securities Regulatory Commission. It officially started stock trading in 1891. HKEX is a comprehensive capital market for stocks, bonds, funds, etc., with a wealth of financial products, strict and strict Management and requirements for profitability, strict laws, and relatively standardized capital markets. HKEX ranks second in global fundraising, with most Chinese companies. As of March 2018, there are 2,172 companies listed on the Stock Exchange, including 1,822 on the Main Board and 350 on the ChiNext .
Listing Process
Set up a listing coaching team
Effectively improve the speed of listing
Meet the demands of enterprises in real time
Effectively connect with third-party institutions
Reorganization of Equity Structure
Equity structure design and construction
Open offshore company accounts
Legal opinion
Clarify the legality of the structure
Provide relevant legal opinions
Business presentation revising
Set up operating model
Company financial planning
Clarify the financing amount and purpose
Financial Audit Report
Understand the company's operating conditions
Preliminary company financial review
Issue a financial audit report
Prospectus Drafting
IPO Capital Raising Materials
Business Plan & Financing Proceed Plan
Company Structure & Shareholder Info.
Financial Audit & Risk Control
Prospectus Filing & Effectiveness
SEC Hearings
Stock Exchange Hearings
Preparation For Public Roadshows
Public Offering Roadshow
Launch Of Global Roadshow
Investors Set Up Securities Accounts
Completion of Public Offering
Selecting Trading Date
Settlement Of Financing Amount & Shares
Open For Trading
Post-market maintenance
American Attorney Consultant
Audit and Periodic Disclosure
IR and Media Promotion
Our IPO cooperative service team and listed cases
Law Firm Cooperative Team
Service Case
Audit Cooperative Team
Service Case
Industry Analysis Cooperative Team
Service Case
Evaluation Cooperative Team
Service Case
Broker Cooperative Team
Service Case
Secretary Company Cooperative Team
Service Case
IR Cooperative Team
Service Case
Investment Bank Cooperative Team
Service Case
Post-listing market value management
