What Are the Different Types of IPO Jobs?

IPO underpricing refers to the fact that the initial public offering price is significantly lower than the initial market price.

IPO underpricing

New stock offering high underpricing provides the market

(1) Relevant theories on the reasons for foreign IPO underpricing

1.

IPO listing conditions

(1) The issuer should have a certain profitability. In order to meet the financing needs of different types of enterprises, GEM has set up two quantitative performance indicators for issuers, so that issue applicants can choose: The first indicator requires the issuer to make continuous profits in the past two years, and the cumulative net profit in the last two years is not less than 10 million yuan, and continued growth; the second indicator requires the latest year to be profitable, and the net profit is not less than 5 million yuan, the operating income of the latest year is not less than 50 million yuan, and the growth rate of operating income in the last two years No less than 30%.

(2) The issuer shall have a certain scale and duration. According to the provisions of Article 50 of the Securities Law on the total share capital of a company applying for a stock listing of not less than 30 million yuan, the "Administrative Measures" requires issuers to have a certain asset size, and specifically stipulates that the net assets at the end of May 2003 shall not Less than 20 million yuan, the equity after the issue is not less than 30 million yuan. It is required that the issuer has a certain scale of net assets and equity to help control market risks. The "Administrative Measures" stipulates that the issuer should have a certain continuous operating record. It specifically requires that the issuer should be a company limited by shares established in accordance with the law and which has been in continuous operation for more than three years. For a company, the continuous operation time can be calculated from the date of establishment of the limited liability company.

(3) The main business of the issuer shall be outstanding. Start-up enterprises are small in scale and are in the stage of growth and development. If the business scope is scattered and the core business is lacking, it is not conducive to effectively controlling risks or forming core competitiveness. Therefore, the "Administrative Measures" requires issuers to concentrate limited resources to mainly operate a business, and emphasizes compliance with national industrial policies and environmental protection policies. At the same time, it is required that the funds raised can only be used to develop the main business.

(4) Put strict requirements on the issuer's corporate governance. According to the characteristics of GEM companies, and in accordance with the strict requirements of mainboard listed companies in corporate governance, the Board of Directors is required to set up an audit committee to strengthen the duties of independent directors and clarify the responsibilities of controlling shareholders.