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缇庡浗鍏徃涓婂競鍜ㄨIPO

涓€鑸€岃█锛岃荡娴峰涓婂競铻嶈祫涓嶅睘浜庡澶栫洿鎺ユ姇璧勮寖鐣达紝浣嗛殢鐫€涓浗缁忔祹涓嶆柇鍙戝睍锛岃秺鏉ヨ秺澶氱殑涓浗浼佷笟寮€濮嬬櫥闄嗙編鍥借偂甯傘€傞壌姝わ紝鏈€婃寚鍗椼€嬪璧寸編涓婂競铻嶈祫杩涜绠€瑕佷粙缁嶃€?/span>

缇庡浗璇佸埜甯傚満鍒嗕负涓ゅぇ鏉垮潡锛氫氦鏄撴墍甯傚満鍜屽満澶栦氦鏄撳競鍦恒€?/span>

锛堜竴锛変氦鏄撴墍甯傚満鍏稿瀷浠h〃鏄航绾﹁瘉鍒镐氦鏄撴墍锛圢ew York Stock Exchange锛孨YSE锛夊拰缇庡浗璇佸埜浜ゆ槗鎵€锛圓MEX锛夛紝璺濅粖宸叉湁200澶氬勾鍘嗗彶锛屾湁闆嗕腑浜ゆ槗澶у巺锛岄噰鐢ㄧ珵浠峰埗搴︺€?/span>

锛堜簩锛夊満澶栦氦鏄撳競鍦烘潵婧愭槸鎸囨棭鏈熶竴浜涗紒涓氳偂绁ㄥ湪浜ゆ槗鎵€澶栬繘琛屼氦鏄擄紝浜轰滑褰㈣薄鍦扮О涓?ldquo;鏌滃彴浜ゆ槗”锛圤TC锛歄ver the Counter锛夋垨“鍦哄浜ゆ槗”锛岃繖浜涗氦鏄撶敱鍥戒細浜?939骞存巿鏉冭绔嬬殑缇庡浗璇佸埜鍟嗗崗浼氾紙NASD锛夌鐞嗐€?/span>

鎸夌収涓婂競鎶ヤ环瑕佹眰浠庨珮鍒颁綆鐨勯『搴忥紝OTC甯傚満娑电洊浜哊ASDAQ锛堝叏缇庤瘉鍒稿晢鍗忎細鑷姩鎶ヤ环绯荤粺锛屽父琚О涓?ldquo;绾虫柉杈惧厠鑲$エ甯傚満”锛夈€丱TCBB锛堢編鍥藉満澶栨煖鍙颁氦鏄撶郴缁燂級鍜岀矇绾㈠崟甯傚満锛圓merican Pink Sheet Market锛夈€侽TCBB渚涗笉鑳芥弧瓒砃ASDAQ鏉′欢鐨勫満澶栦氦鏄撹偂绁ㄨ繘琛屼氦鏄擄紱绮夌孩鍗曞競鍦烘槸缇庡浗鏌滃彴浜ゆ槗锛圤TC锛夌殑鍒濈骇鎶ヤ环褰㈠紡锛屽畠涓洪偅浜涢€夋嫨涓嶅湪浜ゆ槗鎵€鎸傜墝涓婂競銆佹垨鑰呬笉婊¤冻鎸傜墝涓婂競鏉′欢鐨勮偂绁ㄦ彁渚涗氦鏄撴祦閫氱殑鎶ヤ环鏈嶅姟銆傞€氬父锛屽湪绮夌孩鍗曞競鍦轰氦鏄撶殑鍏徃鏄瘮OTCBB涓婅妯℃洿灏忕殑鍏徃銆?/span>

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浜屻€佷腑鍥藉唴鍦颁紒涓氬湪缇庝笂甯傛暣浣撴儏鍐?/span>

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锛堜竴锛変粠浼佷笟鎬ц川鐪?/span>

浠ヤ腑灏忓瀷姘戣惀浼佷笟涓轰富锛屽ぇ鍨嬪浗鏈変紒涓氱浉瀵硅緝灏戙€?/span>

锛堜簩锛変粠琛屼笟鍒嗙被鐪?/span>

鍦ㄧ航浜ゆ墍銆佺撼鏂揪鍏嬭偂绁ㄥ競鍦轰笂甯傜殑涓浗浼佷笟澶氶泦涓湪鏈嶅姟涓氥€侀珮绉戞妧銆佽兘婧愮瓑琛屼笟銆傝繎鍑犲勾锛岃繕鍑虹幇浜嗚緝澶氭秷璐圭被銆佸尰鑽敤鍝佺被鍏徃銆?/span>

涓夈€佸唴鍦板叕鍙歌荡缇庝笂甯備富瑕侀€斿緞鍜屾柟寮?/span>

锛堜竴锛夎荡缇庝笂甯傜殑涓昏閫斿緞鍜屾柟寮?/span>

1銆侀娆″叕寮€鍙戣锛圛nitialPublic Offering锛孖PO锛夛紝鍗虫牴鎹編鍥借瘉鍒告硶瑙勫畾锛岀粡鍚戠編鍥借瘉鐩戜細娉ㄥ唽鍚庤繘琛岀殑鍏紑铻嶈祫鍜屼笂甯傘€?/span>

鑰冭檻鍒拌瘉鍒哥粨绠楀拰涓嶅悓鍥藉埆鐨勮瘉鍒哥◣璧嬬瓑鍥犵礌锛屼腑鍥藉叕鍙歌荡缇庤繘琛岄娆″叕寮€鍙戣閫氬父閲囩敤鍙戣缇庡浗瀛樻墭鑲¤瘉鎸傜墝锛圓merican DepositaryReceipt锛孉DR锛夌殑褰㈠紡銆傜編鍥藉瓨鎵樺嚟璇佹槸闈㈠悜缇庡浗鎶曡祫鑰呯粡缇庡浗瀛樻墭浜哄彂琛屽苟鍦ㄧ編鍥借瘉鍒稿競鍦轰氦鏄撶殑瀛樻墭鍑瘉锛屽彂琛屼汉鐨勮偂绁ㄦ槸鍏跺搴旂殑鍩虹璇佸埜銆侫DR鍙戣涔熸秹鍙婂埌璇佸埜鐨勫叕寮€鍙戣锛屽洜姝ゅ彂琛孉DR鐨勭編鍥藉瓨鎵樹汉涔熼渶瑕佹敞鍐岋紝鑰屽彂琛屼汉鍒欓』灞ヨ瀹氭湡鎶ュ憡鐨勪箟鍔°€侫DR鍙垎涓烘棤淇濊崘鐨勫瓨鎵樺嚟璇侊紙Unsponsored ADR锛夊拰鏈変繚鑽愮殑瀛樻墭鍑瘉锛圫ponsored ADR锛変袱澶х被銆傛湁淇濊崘鐨勫瓨鎵樺嚟璇佹牴鎹叾涓嶅悓鐨勭璧勮兘鍔涖€佷氦鏄撳満鎵€浠ュ強娉ㄥ唽鐧昏瑕佹眰绛夛紝鍙堝彲杩涗竴姝ュ垎涓虹涓€绾с€佺浜岀骇銆佺涓夌骇浠ュ強Rule 144A瀛樻墭鍑瘉鍥涗釜缁嗙被銆?/span>

閫氬父鍏紬鍏虫敞鐨勫浗鍐呰荡缇庝笂甯傜殑澶ч儴鍒嗗叕鍙告槸绾у埆杈冮珮鐨勭涓夌骇ADR锛屾槸闇€瑕佸悜缇庡浗璇佺洃浼氭敞鍐岀殑鍏紑鍙戣锛屽叿澶囪瀺璧勫姛鑳斤紝骞堕渶灞ヨ涓ユ牸鐨勪俊鎭姭闇蹭箟鍔°€?/span>

2銆佸弽鍚戝吋骞?/span>锛圧everseTakeover锛孯TO锛夛紝淇楃О“鍊熷3涓婂競”锛屾槸涓€绉嶇畝鍖栧揩鎹风殑涓婂競鏂瑰紡锛屾槸鎸囦竴瀹剁浜哄叕鍙搁€氳繃涓庝竴瀹跺嚑涔庢病鏈夊疄闄呯粡钀ヤ笟鍔$殑涓婂競鍏徃鍚堝苟锛岃绉佷汉鍏徃鍙嶅悜骞跺叆璇ヤ笂甯傚叕鍙革紝璇ヤ笂甯傚叕鍙告垚涓轰竴涓叏鏂扮殑瀹炰綋銆傚弽鍚戝吋骞跺寘鎷互涓嬩袱绉嶅叿浣撴柟寮?

Form-10浜ゆ槗銆?/span>

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Re-IPO锛氫篃绉?ldquo;閲嶆柊涓婂競”銆?/span>

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涓婅堪涓ょ浜ゆ槗鏂瑰紡涓昏宸紓鍦ㄤ簬锛?/span>

涓€鏄?/span>Form-10浜ゆ槗涓嬬殑澹冲叕鍙稿師鏉ヤ粎鍏锋湁鍏紬鍏徃鍦颁綅浣嗗叾鑲$エ鏈笂甯傦紝鑰孯e-IPO浜ゆ槗涓嬬殑澹冲叕鍙稿彲鑳藉師鏉ュ凡缁忓湪涓绘澘涓婂競銆?/span>

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锛堜簩锛変笉鍚岄€斿緞鍜屾柟寮忛€傜敤涓嶅悓绫诲瀷鐨勪紒涓?/span>

1銆両PO

IPO鏄紶缁熻瀺璧勪笂甯傛柟寮忥紝闇€涓ユ牸鎸夌収缇庤瘉鍒告硶銆佷氦鏄撴墍瑙勫垯灞ヨ鐢宠銆佹敞鍐屻€佹嫑鑲″拰涓婂競鐨勪竴绯诲垪绋嬪簭銆侷PO涓婂競杩囩▼閫氬父鐢辫涓氬0瑾夎緝濂姐€佽川閲忚緝楂樼殑涓粙鏈烘瀯鍥㈤槦鍗忓姪銆傜敱浜庤繖涓€杩囩▼鐩存帴娑夊強鍙戣鏂拌偂鍜岃瀺璧勶紝鍥犳缇庤瘉鐩戜細瀹℃牳鐩稿涓ユ牸锛屽彂琛岃垂鐢ㄧ浉瀵硅緝楂橈紝鏁翠綋娴佺▼娑夊強鏃堕棿杈冮暱銆?/span>

閫氳繃IPO鏂瑰紡涓婂競鐨勫叕鍙革紝杈冨弽鍚戝吋骞朵笂甯傜殑鍏徃锛岄€氬父鏈夋洿濂界殑甯傚満褰卞搷鍔涳紝涓绘祦鏈烘瀯鐮旂┒瑕嗙洊杈冨锛屼笂甯傚悗浜ゆ槗鐩稿娲昏穬銆傜敱浜庝笉灏戜紒涓氬湪涓婂競鍓嶅紩鍏ヤ簡椋庨櫓璧勬湰鍜岀鍕熷熀閲戞姇璧勮€咃紝澶栭儴鎶曡祫鑰呬篃閫氬父瑕佹眰浼佷笟閲囩敤IPO鏂瑰紡涓婂競銆?/span>

2銆佸弽鍚戝吋骞?/span>

鍙嶅悜鍏煎苟涓昏浼樺娍鍦ㄤ簬涓婂競鎴愭湰杈冧綆锛屾墜缁緝灏戙€傛澶栵紝鍙嶅悜鍏煎苟涓嶄絾鍙互浣跨敤鐜伴噾锛屼篃鍙互浣跨敤鎹㈣偂鏂瑰紡锛屽浜庤祫閲戠煭缂虹殑浼佷笟鏉ヨ涔熸槸涓€澶т紭鍔裤€?/span>

锛堜笁锛変笉鍚屼笂甯傞€斿緞鐨勪富瑕佹硶寰嬪拰鏀跨瓥渚濇嵁

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