Definition of listed companies
A listed company refers to a joint stock limited company whose shares are listed and traded on the stock exchange with the approval of the securities administration department authorized by the State Council or the State Council. The so-called unlisted company refers to a joint stock limited company whose shares are not listed and traded on the stock exchange. A listed company is a joint stock limited company, which must meet certain conditions besides being approved to be listed and traded on the stock exchange.
Characteristics of listed companies
(1) The listed company is a joint stock limited company. A joint stock limited company may be a non-listed company, but a listed company must be a joint stock limited company; (2) A listed company must be approved by the competent government department. According to the Company Law, a joint stock limited company must be approved by the securities management department authorized by the State Council or the State Council, and may not be listed without approval. (3) Shares issued by listed companies are traded in stock exchanges. The issued shares are not traded on the stock exchange, but they are not listed.
Basic requirements for a company to issue shares in the market:
(1) The stock has been approved by the securities management department of the State Council and has been publicly issued to the public; (2) The total share capital of the company is not less than 50 million yuan; (3) It has been in business for more than 3 years, and has been making profits continuously in the last 3 years; (4) The number of shareholders holding shares with a face value of more than RMB 65,438+0,000 yuan is not less than 65,438+0,000 shares, and the shares publicly issued to the public account for more than 25% of the total shares of the company; If the total share capital exceeds 400 million yuan, the proportion of public offering exceeds15%; (5) The company has no major illegal acts in the last three years, and its financial and accounting reports have no false records.
Generally speaking, listing has both advantages and disadvantages. Income: 1, get funds. 2, the boss of the company sells a part of the company to the public, which is equivalent to finding the public to take risks with himself, such as 100% holding, losing 100, 50% holding, only losing 50%. 3. Increase the liquidity of shareholders' assets. 4. Escape from the control of the bank without relying 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 some shares are transferred to the manager, the agency problem between the manager and the shareholders of the company can be improved. Disadvantages also include: 1, and listing costs money. 2. While enhancing transparency, it also exposes many secrets. 3. Inform shareholders of the company's information at regular intervals after listing. 4, it may be malicious control. When listing, if the stock price is set too low, it will be a loss for the company.