What does iPo mean?

IPO is the abbreviation of English Initial Public Offerings, which is defined as initial public offering in Chinese. It refers to the first time that an enterprise or company (joint stock limited company) publicly sells its shares to the public (initial public offering refers to the way in which a joint stock company publicly issues its shares to the public).

As far as valuation models are concerned, different industry attributes, growth and financial characteristics determine that listed companies apply different valuation models. Commonly used valuation methods can be divided into two categories: income discount method and analogy method. The so-called income discount method is to estimate the future operating conditions of listed companies in a reasonable way, and choose appropriate discount rate and discount model to calculate the value of listed companies, such as the most commonly used dividend discount model (DDM) and cash flow discount model.

Extended data distribution requirements

1. The stock is publicly issued with the approval of the securities management department of the State Council.

2. The total share capital of the company is not less than RMB 30 million.

3. The publicly issued shares account for more than 25% of the total shares of the company.

4. If the total share capital exceeds 400 million yuan, the proportion of public offering is above 65,438+00%.

5. The company has no major illegal acts within three years, and its financial and accounting reports have no false records.

IPO has four major impacts on the stock market.

First, it strengthens the financing color of the stock market. Although the stock market that can't achieve financing is not a sound market, the market that has paid too much attention to financing for a long time should be treated differently. According to statistics, in recent 10 years, the A-share market financing was 1.76 times cash dividend.

Second, it has hit investors' investment confidence. The stock market must fall! With the introduction of negative policies, the confidence of shareholders in holding shares will also decline.

Third, it distorts the essence of value investment. The resumption of IPO will inevitably involve many problems, such as the "three highs" phenomenon of stocks, the fraudulent behavior of some enterprises trying to go public and so on. Suppose that the PE value of a company before listing is about 15 times, and its net profit will increase by 30% in the next three years.

Fourth, it has contributed to key issues such as interest transfer. Talking about this, we can easily think of the four auxiliary institutions of IPO, namely, securities companies, law firms, accounting firms and IPO consulting institutions.

Baidu encyclopedia-initial public offering (IPO)