论文部分内容阅读
最近几年,海外中概股所遭遇的信任危机掀起了新一轮的上市公司私有化浪潮,本文从私有化的法律特征与行为动机切入,分析上市公司私有化的新发展,即私有化后转板再上市(PPP)的模式的操作可行性,试图为海外中概股提供一条解困之道。但是,PPP模式在实施过程中存在一些特殊的监管难题,如因为转板再上市而产生的跨市场监管以及特殊的再上市环节使得私有化交易中中小股东利益保护的问题更加复杂,本文在发现问题的同时提出了解决这些难题的几点设想。
In recent years, the crisis of trust in overseas Chinese stocks triggered a new round of wave of privatization of listed companies. This essay analyzes the legal characteristics of privatization and behavioral motives, analyzes the new development of privatization of listed companies, that is, after the privatization Transfer plate to market (PPP) mode of operation of the feasibility of trying to overseas stocks provide a solution to the problem. However, the PPP model has some special regulatory problems in its implementation. For instance, the cross-market supervision due to the re-listing of shares and the special re-listing process make the issue of protecting the interests of minority shareholders in the privatization transaction more complicated. At the same time put forward some ideas to solve these problems.