—— Why go public?——

Going public has always been a hot topic for many companies. Whether to go public or not is a crucial decision for a company that will directly determine the company's future development plan and direction. Many entrepreneurs may see the benefits brought by listing thus go prepare for listing urgently without understanding what exactly going public can bring to them. Before deciding to go public, you need a more comprehensive and thoughtful consideration. The following is our list of the pros and cons of going public for your reference.

Raise funds for development

By going public, companies can obtain the funds needed for development, improve their capital structure and improve their ability to resist risks.

Expand financing channels

Enterprises can publicly issue shares through listing, increasing the company's net capital and shareholder equity ratio, which will enhance the company's ability to recruit funds in the future.

Regulate corporate management

Enterprises must establish and improve various regulations to be listed, which will help improve the governance structure and give full play to management and institutional advantages in market competition.

Enhance brand awareness

By holding new product launches or press conferences, listed companies are more likely to get the attention of the business world, investors, the press and consumers.

—— How to go public?——

Listing Process

01
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

02
Reorganization of Equity Structure

Equity structure design and construction
Open offshore company accounts

03
Legal opinion

Clarify the legality of the structure
Provide relevant legal opinions

04
Business presentation revising

Set up operating model
Company financial planning
Clarify the financing amount and purpose

05
Financial Audit Report

Understand the company's operating conditions
Preliminary company financial review
Issue a financial audit report

06
Prospectus drafting

Company Structure and Opinions
Financial Audit and Risk Prevention and Control
Commercial and Financing Plans

07
Submission and Effectiveness of Prospectus

Completion of the SFC hearing
Public offering
Preparatory work for public offering

08
Apply for stock code

Market Maker Application
Stock code confirmation

09
Public offering completed

The investor opens a stock account
Share deposit and settlement
Opening and trading

10
Post-market maintenance

American Attorney Consultant
Audit and Periodic Disclosure
IR and Media Promotion

Market Comparison

Market comparison

30 seconds to understand how to choose the listing market
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

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

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 location ——

—— Listing method——

IPO

DPO

RTO

SPAC

SPAC

Special Purpose Acquisition Company (SPAC). SPAC listing and financing methods integrate the characteristics and purposes of financial products such as direct listing, overseas mergers and acquisitions, reverse acquisitions, and private placements, and optimize the characteristics of each financial product to complete The purpose of corporate listing and financing.

ADR

M&A

Initial Public Offering (IPO) refers to the process by which a company issues additional stocks to investors through the stock exchange in order to raise funds for corporate development. Generally, the shares of a listed company are based on the The terms agreed in the issued prospectus or registration statement are sold through brokers or market makers. Generally speaking, once the IPO is completed, the company can apply for listing on the stock exchange or quotation system.
Direct Public Offering (DPO) on the Internet, that is, the issuer of securities publishes listing information and transmits issuance documents on the Internet without the help or through underwriters or investment banking companies, thereby directly issuing public offerings. Company stocks. DPO does not have the cumbersome registration procedures and strict information disclosure requirements like IPO (Initial Public Offering). It can make full use of the advantages of cross-space provided by the Internet and directly connect listed companies with investors.
Reverse Take-Over (RTO) is also called Back-door listing. It means that the shareholders of a non-listed company control the company through the acquisition of shares in a shell company (listed company), and the company reverses Acquire the assets and business of a non-listed company to make it a subsidiary of a listed company. The shareholders of the original non-listed company can generally obtain the controlling rights of most of the listed companies, thereby achieving the purpose of indirect listing.
Special Purpose Acquisition Company (SPAC). SPAC listing and financing methods integrate the characteristics and purposes of financial products such as direct listing, overseas mergers and acquisitions, reverse acquisitions, and private placements, and optimize the characteristics of each financial product to complete The purpose of corporate listing and financing.
American Depository Receipts/Shares (ADRs/ADS) is a transferable certificate issued by U.S. commercial banks to assist foreign securities trading in the United States. It usually represents the publicly tradable stocks and bonds of non-U.S. companies.
Mergers and Acquisitions (M&A), including mergers and acquisitions two meanings, two methods. It is customary in the world to use mergers and acquisitions together, collectively referred to as M&A.

—— Our IPO cooperative service team and listed cases ——

Law FirmCooperative Team

Law FirmService Case

AuditCooperative Team

AuditService Case

Industry AnalysisCooperative Team

Industry AnalysisService Case

EvaluationCooperative Team

EvaluationService Case

BrokerCooperative Team

BrokerService Case

Secretary CompanyCooperative Team

Secretary CompanyService Case

IRCooperative Team

IRService Case

—— Listing Compliance Service ——

Before listing

Financial and equity combing
Business model optimization
Establishment of Risk Control System
Corporate Governance Standardization

In the process of listing

Overall coordination of work
Docking with third-party professional institutions
Suggestion of Financing Plan
Professional Talent Training

After listing

Public Corporate Governance
Market value management consulting
Market value management consulting
资产重组与并购
ATIF has a professional service team, rich practical experience in IPO guidance, and international professional organization cooperation resources, such as auditing agencies, lawyers, appraisal agencies, investment institutions, investment bank sponsors, stock brokerage companies , Investor Relations (IR) institutions, etc., could provide companies with one-stop professional listing compliance services, allowing more high-quality companies to enter the international capital market

Service Process

Comprehensive Due Diligence

Establish a special team to conduct a comprehensive due diligence on the intended enterprises

Determine the direction of listing

According to the results of due diligence, determine the securities market suitable for the company through discussions

Determine the listing method

Based on the results of due diligence, the best way to go public is determined through discussions

Project combing and optimization

Comprehensively sort out the listing targets, and provide a comprehensive and feasible optimization plan for the business model, equity structure, and internal governance

Full compliance service

Comprehensive arrangements, providing standardized listing compliance services, docking and coordinating third-party professional institutions, and providing legalized financing advice, transporting professional talents that companies need

Follow-up service

After the company is successfully listed, continue to provide professional public corporate governance, market value management, asset restructuring, IR and other consulting services

—— Cooperative Agency ——

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