Recently, with the gradual warming of overseas stock markets, more and more enterprises began to reconsider plans to go overseas. On June 30, the wealth effect brought by the 361 ° mainland sporting goods dealer, the successful listing of the Hong Kong Stock Exchange, once again became the benchmark. Its IPO price was HK $ 3.61. On the very day, the stock rose as high as HK $ 4.28 in early trading. Industry insiders estimate that due to the relatively small size and speed of initial public offering of A-share IPO in the initial stage of the restart, more and more enterprises will be targeting the overseas market in the future.
International development goals
Although the impact of the financial crisis on the global real economy continues, the successful listing of 361 ° shows that overseas investors are still quite optimistic about the mainland sports sector. It is understood that this 361 ° IPO response was an unprecedented enthusiastic global eight long-term funds fully subscribed. The International Placing Shares have been over-subscribed for about 10 times while the Public Offer Shares have over-subscribed over 40 times. The funds raised during the subscription period have exceeded HK $ 2 billion.
361 ° Company official said, "the reason to be able to get the favor of international investors, and its many years of hard work in the sporting goods industry and outstanding performance growth are inseparable.In addition, as the fastest-growing domestic sportswear brand , 361 ° all over the country's distribution network, leading product design and development capabilities, unique marketing strategy, experienced professional management team, became successful this listing of the key factors.
"Enterprises to go overseas are generally based on the international capital of their own business development goals." A domestic brokerage investment bank told reporters, "such as 361 ° mainland sports brands, generally after several years of development, the mainland has A certain market base, we need to expand the market out, and Hong Kong is the first stop on the international market. "
Meanwhile, the successful listing of 361 ° in Hong Kong has also brought tremendous wealth effects to its founders. According to the share capital structure shown in the prospectus, after the listing of 361 °, the Ding Clan, including the president Ding Wu, held a total of 1.095 billion shares, accounting for 54.75% of the shares of the listed company. On the first day of the stock price calculation, Ding family worth has reached 4.27 billion Hong Kong dollars.
Multi-party encourage overseas listing
As a result of the financial crisis, the global market was sluggish. In the first quarter of this year, only five mainland enterprises in China went public in Hong Kong Main Board and South Korea Growth Enterprise Market. The number of listed companies decreased by 26 compared with the same period of last year, and the amount of financing dropped by 98.2%. This makes the overseas listing from last year's full swing, suddenly fell to freezing.
In this regard, the Ministry of Commerce and local government departments all encourage, to varying degrees, domestic enterprises to bravely "go global" and make use of overseas listings to open their "international windows." For example, the Liaoning Provincial Department of Finance rewarded 1 million yuan for agricultural industrialization enterprises listed outside China; and Chengdu High-tech Zone granted one-time reward of 2 million yuan to overseas listing of enterprises.
In the meantime, overseas exchanges have also extended their elite branches to outstanding enterprises. Xu Guangxun, former chief representative of Nasdaq Beijing in the United States, once introduced: "There are nine listing standards on NASDAQ which are very flexible and can be selected as the most favorable listing standard for the company when it goes public." Chief Representative, Beijing Representative Office, London Stock Exchange On behalf of Jiang Nan also said that because there is no need for business records, there is no need to have the scale of financing, there is no need for the public the proportion of the issuance requirements, do not need the record number of years of history management requirements, even if the high growth board "Take a treasure map can also be listed."
It is understood that there are already many enterprises, especially private enterprises to start the overseas listing plan. An international investment bank in Shanghai office told reporters, "the Yangtze River Delta, Pearl River Delta region listed companies enthusiasm for the recent start to stabilize, they have their own financing needs, as well as establish a brand internationally. At present, the overseas stock market rebounded, the former Entrepreneurs to consult the listing process also began to significantly increase. "
Go out to "find the right path"
Although the mentality of "going global" has now become more and more cautious, experts also suggest that entrepreneurs must first find a way out and not blindly go public.
A domestic company specializing in services overseas listing of consulting companies boss told reporters, "In general, high-tech companies to go to the US market is more favorable, there is no sea of ​​experience preferred Hong Kong companies more favorable, the European market is also suitable for a number of innovative high-growth companies First place for financing. "
At the same time, the president of the People's University of China, Ji Baocheng, also reminded Mainland companies that "they should not blindly go overseas to list their businesses." The listing of overseas companies will result in the hollowing-out of domestic capital markets and the country's economic security. At the same time, As well as the further loss of state-owned assets. "
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