Of course, listing is not without any defects, and listing is not suitable for all enterprises. In summary, the list includes the following considerations:
1, list cost
There is no free lunch in the world, so the listing of a company requires certain costs, including underwriting fees, accountant fees, lawyer fees, appraiser fees, roadshow fees, sponsorship fees, information disclosure fees and so on. Take BBK (00225 1), which was listed on June 9, 2008, as an example, the underwriting and sponsorship fee is 33 million yuan, the reporting accountant fee is 2.36 million yuan, the lawyer fee is 1 10,000 yuan, and the IPO registration and initial listing fee is165,200 yuan. For example, the listing cost of Chuanda Zhisheng (002253) listed on June 23, 2008 is 5 million yuan for underwriting and 6 million yuan for sponsorship. The lawyer's fee is 960,000 yuan; The CPA fee is 835,000 yuan; The assessment cost is 250,000 yuan; The registration custody fee and initial listing fee are 82,000 yuan; Media promotion related expenses are 3.82 million yuan.
2. Enterprises need to standardize their operations.
Before a company goes public, it can be decided by the founder, especially the family business. However, after listing, enterprises, as public companies, need to follow the procedures determined by laws and regulations, such as convening the board of directors or shareholders' meeting.
In addition, in the financial operation of enterprises, before listing, enterprises may have many financial operation problems such as irregular related party transactions. However, after an enterprise goes public, it must put an end to all non-compliant financial operations in accordance with the special provisions of listed companies.
3. Transparency of enterprise information
One of the most important tasks of listed companies is to disclose important information of the company. The obligation of information disclosure not only makes the financial situation of the enterprise completely open to the whole society, but also makes some important business decisions in the process of enterprise operation open to the society. It is easier for competitors to understand the business strategy of enterprises, and it is easier for competitors to imitate or adopt corresponding competitive means.