Chapter 168 Listing Requirements (4th Update)
Recently, there are a lot of people on the stock exchange.
Not only stockholders, but also businessmen and investors.
They are not here to speculate in stocks, but to see if they can list their company on the exchange.
Since the giant cotton textile company engaged in this so-called listing, everyone's eyes are red.
Originally, in their eyes, even if the Jumian Company successfully broke through under the encirclement and suppression of the Phantom Textile Company, it would be worth about six million at most.
They think the price is more pertinent. Jumian's own equipment, factories and whatevers are worth three million. The remaining three million is the trust in the company's earning ability and the expectation of future prospects.
Like the price given by the appraisal agency, they will not believe it. What a valuation of tens of millions, too empty!
This is all nicely said, they are all coaxing, and it is not a big deal to watch the excitement. The more you don't sell your shares, the more they will bid. If you sell the company directly for 10 million, will you see if anyone buys it?
Definitely not! This is the experience of these businessmen for many years.
As a result, Jumian Company went public, divided 100% of its shares into one million shares, and sent them to the market.
Then, they were all confused.
watched the five-yuan stock rise all the way, one price a day, and it only stabilized after it rose to the current eighteen or nineteen yuan.
Good guys, the market value of five million has risen to eighteen or nine million!
And this is not a valuation, this is what shareholders are pushing up with real money!
I bought the first batch of shares for five yuan, and if I hadn't sold them before, even if I only had 1,000 shares, I would have earned 134,000 from the cost of 5,000, which is a profit margin of more than 200 percent!
This is just ordinary shareholders, and they are even more envious of being the majority shareholder of Jumian Company!
For example, Luo Yin, the largest shareholder, became a multimillionaire in just a few days!
Isn't that blushing!
However, while everyone's eyes were red, there was also some confusion or disapproval of Luo Yin.
Because Luo Yin still has 67% of the shares in his hands.
Why do you want so many shares? If they were Luo Yin, they would have to keep 34% at most. Sell another 33%, which is 330,000 shares! After all, at the current price, 330,000 shares can be worth six million!
Even they can understand that if there is more selling, the price will fall. But after their observation during this period of time, they can see that the stability of Jumian Company's stock is extremely strong, even if the price is reduced, as long as the company has nothing major and has been operating normally, it will not be reduced too much, at least it is no problem to sell five million.
But Luo Yin sold 15% and stopped, and he just held on to so many shares in his hand. After their calculations, Luo Yin made less than two million from these shares, although there is a lot of money, but for Luo Yin, he can earn more!
These people can't wait to sell these stocks instead of Luo Yin, and they also want to see a myth of getting rich rise in front of them!
Of course, that's impossible, after all, they are them, and Luo Yin is Luo Yin. But since Luo Yin doesn't want to be this myth, then they come!
They are all businessmen, who doesn't have a company in their hands!
It's nothing more than getting some kind of exchange, and then dividing the shares into stocks.
Just a few days after the listing of Jumian Company, many companies in Qiongbi City began to learn how to make their own exchanges, and try to sell stocks by themselves.
Outcome...... It's miserable.
First of all, the exchange thing looks simple, but when they actually get it up, they find it very difficult, and they can't even get the most basic trading right, let alone the rest.
And then there's the issue of trust, and after they get the exchange out, people don't believe you at all. If you don't come to speculate on stocks, then it's useless for you to send more stocks!
Just when they felt helpless, news suddenly came out from the Luo Yin Lane Exchange that they welcomed other companies to list here.
At this time, everyone realized that this exchange was not a giant cotton spinning
Exclusive to the weaving company!
They used to think that a listed company should be equipped with an exchange. It turned out that they were overthinking.
Now that there is a ready-made exchange to use, they leave and run over to list here.
But the exchange told them that the conditions for listing have not yet come out, and they will be notified when they come out, and during this time, they can prepare for the listing.
This preparation means that the company's operating conditions must be good, and the exchange has made it clear that it is impossible for any company to list you, and it needs to be reviewed.
So, during this time, there were bosses who came to the exchange every day, just to see if the listing rules had been figured out.
Today, everyone entered the exchange and found that there was an extra sign in the hall, and when we looked at it again, it turned out to be the listing rules!
The bosses were suddenly excited and hurried to check. It's just that after reading it, everyone looked at each other a little.
This rule is so difficult!
Since there is an exchange, Luo Yin naturally wants to do a good job, and he can't issue shares to any company, otherwise if he loses his reputation, he will be blind.
There are several listing rules, and they say that the rules will continue to be updated, which means that listing is relatively simple now, and it will become more and more troublesome in the future.
First, the company's market capitalization is more than 1 million United Coins.
Second, the annual financial statements must be submitted to the CSRC and the company's shareholders for reference.
Third, the public offering of shares reaches more than 10% of the total number of shares of the company.
Fourth, the company has no major violations in the past six months, and there are no false records in the financial and accounting reports.
Fifth, the company's ......
These rules were discussed by Luo Yin in the parliament.
He also deliberately proposed the establishment of a department of the China Securities Regulatory Commission to supervise and manage the city's stock market in a unified manner, maintain market order, and ensure its legitimate operation.
Although Luo Yin set up an exchange, it is impossible to trade everything he says, and he has to be supervised by an official department.
If no one manages it and the exchange grows bigger, Luo Yin can't guarantee what will happen. And without official management, it's unlikely that you want to be big. Even if the town hall doesn't care, the kingdom will definitely have to take care of it in the future. Rather than waiting to be passively restricted in the future, it is better to take the initiative to put a layer of shackles on the exchange now to prevent wild growth.
Luo Yin served as an honorary chairman in the Securities and Futures Commission, the kind that doesn't care about anything. This is an affirmation of him as a founder.
There are not many conditions for a company to go public, but each condition is not simple.
Most of the bosses present were crying and sad, they wanted to go public and make a lot of money, but their companies couldn't meet the conditions for listing at all.
However, there are also people whose eyes are shining, and they come to the counter and send out the listing application to the staff.