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M&A

01.

Mergers (including partial mergers)

― As unlisted companies merge with listed companies, unlisted firms are split and unlisted shareholders are take over new shares issued by listed companies.

02.

Comprehensive stock exchange

― Becoming a wholly owned subsidiary of a listed company through backdoor listing by transferring all unlisted company equity securities to listed companies and issuing new shares.

03.

Technology· sales acquisition & Increase in third party allocation (or stock transfer)

― An unlisted company transfers all or part of its business to a listed company, and the listed company issues new shares or transfers shares to third-party assigned capital according to payment of funds.

04.

Asset transfer (stock swap + acquisition of other equity securities) & capital increase by allocation to third parties (or transfer of stocks)

― Take advantage of converting unlisted equity securities into listed stocks by issuing new stocks, transferring shares, or selling unlisted shareholder equity securities to listed companies and participating in third-party assigned capital increase.

05.

Investment in kind

― Unlisted company shareholders pay shares in kind (private equity securities), through participating in a third-party assigned capital increase by issuing new stocks.