企业买壳上市研究

目前,我国企业并购活动的一个重要特征就是企业兼并与收购呈现证券化的趋势。“买壳上市”是上市企业并购活动中的一朵奇葩。所谓“买壳上市”,是指非上市企业通过并购控股上市企业的股份来取得上市地位,然后用反向收购方式注入自己的相关业务和资产,从而达到间接上市的目的。本文就对“买壳上市”的动因、目标“壳”企业的选择、“买壳上市”的实现模式及“买壳上市”中存在的问题等进行探讨。

To Study about the "Purchase Shell Corporations" and Go on the Market

At present, one of the characters of the M&A is that the M&A market turns on the trend of negotiable securities." Purchase shell corporations" is an odd flower in the M&A market. "Purchase shell corporations "is that the non-list corporations to be list corporations by means of control the stocks of the list corporations, and then put into themselves operations and assets. Consequently, achieving the aim of to be list corporations. This article reveals the issues of the motivations, choice of the target shell corporations ,realizing mode and existent problems of the "purchase shell corporations"and go on the market.