At least one third of the board members of a listed company should be independent directors, including at least one accounting professional.
At least 1/3 of the members of the board of directors of listed companies are independent directors, but the proportion of independent directors in the board of directors of listed companies acquired by management buyouts should reach or exceed 1/2.
: List requirements
1. Public offering of shares with the approval of the State Council securities management department;
2. The total share capital of the company is not less than 30 million yuan;
3. The publicly issued shares account for more than 25% of the total shares of the company; If the total share capital exceeds 400 million yuan, the proportion of shares issued to the public exceeds10%;
4. The company has no major illegal acts in the past three years, and its financial and accounting reports have no false records. Most companies have joint-stock system. Of course, if the company is not listed, these stocks are only in the hands of a few people. When the company develops to a certain extent, it needs development funds. Listing is a good way to absorb funds. The company put some of its shares on the market and set a certain price to allow these shares to be traded in the market. The money from selling stocks can be used for further development. A stock represents a part of a company. For example, a company has 6,543.8+0,000 shares, the chairman holds 5,654.38+0,000 shares, and the remaining 490,000 shares are sold in the market, which is equivalent to selling 49% of the company's shares to the public. Of course, the chairman can also sell more shares to the public, but in this case, there are certain risks. If the malicious acquirer holds more shares than the chairman, the ownership of the company will change. Generally speaking, listing has both advantages and disadvantages.
Benefits:
1. Get funds.
If the owner of the company sells a part of the company to the public, it is equivalent to asking the public to take risks with him. For example, if he holds 100%, he loses 100%, and if he holds 50%, he loses only 50%.
3. Increase the liquidity of shareholders' assets.
4. Get rid of the control of banks and no longer rely on bank loans.
5. Improve the transparency of the company and increase public confidence in the company.
6. Improve the visibility of the company.
7. If certain shares are transferred to the manager, the contradiction between the manager and the shareholders of the company will be alleviated, that is, the agency problem.
Disadvantages:
1. Going public costs money.
While enhancing transparency, it also exposes many secrets.
3. After listing, notify shareholders of company information every time.
4. It may be maliciously controlled.
When going public, if the share price is set too low, the company will lose money. In fact, this is a common practice. Almost all companies will set their share prices higher when they go public.