Chapter 0298 Conditions for a company to be listed
The national market gradually opened up, and then, what the Wang family had to do was to watch the money in the company's account rise. Pen % fun % Pavilion www.biquge.info
And then, Wang Zheng's second plan began to be implemented intensively.
Wang Zheng's second plan is to go public.
In my previous life, I only knew that the first listed company in Luzhong City was Luzhong Iron and Steel Plant, which was listed in April 1997. Later, when I graduated, I bought shares of Luzhong Iron and Steel a few times, but I never made any money.
Then the second listed company, the name is Jinlei Wind Power. Jinlei Wind Power was listed in 2015, when Wang Zheng originally thought that it was a hometown enterprise and bought a little when he speculated in stocks, but he didn't dare to buy it when he saw the price of more than 100 yuan, and he didn't have much money.
In his previous life, although he said that he started to speculate in stocks in 2006 with the A-share bull market, he experienced the peak of 6124 points in 2007, and also saw the trough of 1664 points, saw the spectacle of 1,000 shares, and experienced the tragedy of 1,000 shares. However, although he has speculated in stocks, the Wang family knows nothing about how the company is listed or something.
It doesn't matter if you don't understand, you can learn.
So, in the same month that Wang's ginger wine opened the market nationwide, Wang Zheng studied how to list his company.
Taking advantage of the weekend, Wang Zheng came directly to the only securities company in Luzhongcheng, Shenyin Securities Company.
Then after consulting about how the company went public, Wang Zheng shook his head.
If it is listed, it will be subject to mandatory shareholding reform, and then the control of the company will need to be forcibly handed over. This is something that Wang Zheng absolutely does not want to see.
Moreover, Wang Zheng also saw that if the ginger distillery was to be listed, it didn't seem to be in line with the regulations. Because the ginger distillery was established for too short a time, by April 1996, the ginger distillery had only been established for less than two years, which did not meet the criteria for listing.
The control of the company must not be handed over, and now the main money-making business of the Wang family is ginger wine, and the control of this piece must not be handed over.
However, after learning about the conditions met by the listed company, Wang Zheng's eyes suddenly lit up again.
There are not many conditions to be met by listed companies, the enterprise has been established for more than three years, has been profitable for three consecutive years, has a total share capital of more than 50 million, and has more than 1,000 people with a face value of more than 1,000 shares.
Wang Zheng looked back, didn't the cold storage of his head office already meet the listing conditions?
Wang's "Taohualing Cold Storage" was built in the winter of 1992, and it has been more than three years since April 1996. Moreover, the cold storage side has been profitable for three consecutive years, and the profit scale can reach the level of tens of millions a year. Such a level of profitability and the size of the company can fully meet the conditions for listing.
Wang Zheng wanted to realize the wish of the first listed company in Luzhong City at the beginning of 1997, so now he must hurry up.
The next work is to carry out the shareholding system reform.
Now all the assets of all the companies of the Wang family are owned by the Wang family. However, such a company is not allowed to be listed, and if it wants to be listed, it must be reformed by shares.
How to carry out the share transformation?
Take the Wang family's "Taohualing Cold Storage" in Taohualing Village as an example.
First of all, Wang Xiangzhong, who is the owner of the assets of "Taohualing Cold Storage", wants to initiate a share transformation in a qualified securities company.
Then, the Wang family has to divide and evaluate all the assets and calculate the total assets of the company. After the completion, the shares are generally divided according to the price of 1 yuan asset and one share. The assets such as "Taohualing Cold Storage" mainly include ten cold storages, equipment in cold storage, more than 3,000 acres of land, staff dormitories, staff canteens and the balance on the company's books. All these things are counted, and the total assets of the Wang family's "Taohualing Cold Storage" are about 80 million.
Then the total assets of 80 million can be divided into 80 million shares. These 80 million shares cannot all be placed in the hands of the Wang family, and the conditions for the listing of listed companies must be met. One of the conditions is to meet the conditions of thousands of people and thousands of shares.
That is, these shares are distributed before they go public.
As the owner of the assets, the Wang family has the right to give these shares to others free of charge. However, unless people who are too anxious to go public in order to meet this condition will be stupid enough to do so, in most cases, these shares need to be subscribed for. In other words, you give me the money of the Wang family, and I will give you the shares of the company. Under normal circumstances, to meet the condition of thousands of people and thousands of shares, you must go to a venture capital company to achieve this condition.
Because once listed, the market value of the stock will increase several times or even dozens of times, so there are still people who are willing to subscribe for shares. However, this share subscription must also bear a certain risk, in case the company to be listed cannot be listed, then the venture capital company's investment is likely to be lost.
Of course, in order to reward those who have made outstanding contributions to the company, the actual controller of the assets will also give away shares as a means of reward.
And even if you pull venture capital and give away shares, you may not be able to get thousands of shares. Then there is another way, which is to subscribe for shares.
Sometimes, companies even force the issuance of employee shares in order to meet the conditions for listing as soon as possible.
In his previous life, Wang Zheng remembered that when Luzhong Iron and Steel Plant was listed in 1997, in order to meet the conditions of thousands of people and thousands of shares, the company issued shares to internal employees, but as a result, the employees did not realize that this was an opportunity to make a fortune, but refused to accept it. Then some people who know a lot will ask for the stock options that others don't want, and they subscribed for a lot of shares, and the structure was later doubled as soon as the company was listed, and the valuation doubled, and they made a fortune.
The owner's three types of venture capital, giftees and employee subscription shares can be called original shares, and these shares are not considered with a price-earnings ratio.
Then, after this condition is met, the company will be listed with a minimum of 25% of the total share capital for public offering.
However, this public offering of shares is not issued on a dollar-per-share basis, but on the basis of the average price-to-earnings ratio of the market at that time. Generally speaking, because the operating capacity of Wangjia cold storage is very high, and the share capital is small, the price of listing may be very high, about more than ten yuan.
After the price is set, the company will contact the underwriters to underwrite the 25% of the company's shares. Then after all of them are sold, the company can go public in the true sense of the word.
There are pros and cons to going public, but Wang Zheng still plans to go public first for the sake of future influence. After all, the title of CEO of a listed company is much higher than that of a farmer entrepreneur.