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(一)“借壳上市”一词之“壳”在此特指证券交易所所在地有关证券交易的法规中,允许上市的公司。“借壳上市”就是指一些不符合条件的公司,凭靠具备上市规定条件的公司而达到间接上市的活动。证券交易所是为分散的投资者提供直接投资场所。为了确保投资者利益。证交所要求上市公司必须具备相应资格,而取得该资格是需要条件和时间的。没有资格的公司要想尽快上市就只好“借壳”了。借壳上市又可细分为“造壳”上市和“买壳”上市。“造壳”上市有些证券交易所允许在指定地区注册的公司,上市时手续更为简便。准备上市的公司就可以用独资或合资在该地区注册一家控股公司,并以此公司申请上市。最具代表性的是新加坡商人黄鸿年将中国太原双喜轮胎公司和杭州橡胶公司的控股公司——中国轮胎公司在百慕大注册,93年7月在纽久证券交易所上市,发行新股610万,筹集资金1亿多美元,投资于国内轮胎行业的生产。
(A) “shell” “shell ” in this specifically refers to the securities exchange where the relevant securities transactions, allowing listed companies. “Backdoor listing ” refers to a number of non-qualifying companies, by virtue of the listing requirements of the company to achieve indirect listing activities. Stock exchanges are places for direct investment by diversified investors. In order to ensure the interests of investors. Stock Exchange requires listed companies must have the appropriate qualifications, and to obtain the qualification is the need conditions and time. Unqualified companies have to “backdoor ” to be listed as soon as possible. Backdoor listing can be subdivided into “shell ” listing and “shell ” listing. “Make shell ” listed Some stock exchanges allowed to register in the designated area of the company, listing procedures easier. A company that is going public can register for a holding company in the region with a wholly-owned or joint venture and apply for the listing. The most representative is Singaporean businessman Huang Hongnian China Taiyuan Double Happiness Tire Company and Hangzhou Rubber Holding Company - China Tire Company registered in Bermuda, July 93 listing on the New York Stock Exchange, the issue of 6.1 million new shares to raise funds Over 100 million U.S. dollars invested in the production of the domestic tire industry.