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定向增发新股的再融资方式,自2006年在我国资本市场采用以来,其增发数量、平均融资规模及其在再融资市场中占的比重均增长迅速,目前已经成为我国上市公司最重要的股权再融资手段。本文将从换购优质资产实现整体上市、募集项目资金、引入战略投资者、公司并购、借壳上市、反向以股抵债、股权激励等七个方面并结合实例来对定向增发的目的进行分析,以使该再融资方式在中国得到进一步的完善和发展。
The way of refinancing private placement of new shares has been increasing rapidly since it was adopted in China’s capital market in 2006, and its issuance volume, average financing scale and its proportion in the refinancing market have become the most important shareholding of listed companies in China Financing means. In this paper, we will analyze the purpose of private placement from the aspects of redemption of high-quality assets as a whole, raising of project funds, introduction of strategic investors, mergers and acquisitions, backdoor listing, reverse debt-stocking, equity incentive and so on This way of refinancing will be further perfected and developed in China.