Question 1: What does matching financing mean? Matching financing means that when a listed company conducts mergers and acquisitions, it also issues additional shares to investors for financing.

Scope of application of matching financing:

(1) Raising matching funds to improve the performance of mergers and acquisitions of listed companies mainly includes: paying cash consideration in mergers and acquisitions; Pay M&A integration fees such as M&A transaction taxes and personnel welfare fees; The construction and operation fund arrangement of the underlying assets under construction involved in the merger and acquisition; Supplementing the liquidity of listed companies, etc.

(2) Under the following circumstances, matching funds shall not be raised on the grounds of supplementing liquidity: the asset-liability ratio of listed companies is obviously lower than the average level of listed companies in the same industry; The use effect of the previous raised funds obviously did not reach the planned progress or expected income publicly disclosed; The merger and reorganization plan is limited to the acquisition of minority shareholders' rights and interests of the holding subsidiaries of listed companies; The merger and reorganization plan constitutes a backdoor listing.

Question 2: What is "matching financing"? Matching financing means that when a listed company conducts mergers and acquisitions, it also issues additional shares to investors for financing. Opinions on the application of Articles 13 and 43 of the Measures for the Administration of Major Asset Restructuring of Listed Companies-Opinions on the Application of Securities and Futures Law No. 12 stipulates that part of the matching funds raised by listed companies when they issue shares to purchase assets are mainly used to improve the integration performance of reorganization projects, and the proportion of matching funds shall not exceed 25% of the total transaction amount, which shall be reviewed by the M&A audit committee.

From: MBA think tank encyclopedia

Question 3: What is the meaning of matching financing for issuing shares through asset replacement? It is to exchange junk assets (assets with poor profitability) for high-quality properties, and then issue stocks to make a fuss about this part of high-quality properties.

Question 4: What does it mean that the regulatory authorities prohibit backdoor listing supporting financing? The regulatory authorities prohibit backdoor listing supporting financing, which means that it is forbidden to use backdoor listing to issue additional shares for financing.

note:

1. Matching financing means that when a listed company conducts mergers and acquisitions, it also issues additional shares to investors for financing.

Backdoor listing means that private companies gain a certain degree of controlling rights by injecting assets into listed companies with low market value, and use their status as listed companies to list the assets of their parent companies. Usually shell companies change their names.

Question 5: What do you mean by issuing shares, purchasing assets and supporting financing? This event constitutes a major asset reorganization of the company.

I. Overview of this reorganization

Two. Brief information on the purchase of assets by issuing shares this time.

Reference: sc.stockfol/13081123,1776,15733469,00.shtml.

Question 6: Does the cancellation of supporting financing for major asset restructuring mean the cancellation of good news?

Question 7: Do private placement and matching financing issue two stocks? number

Matching financing means that when a listed company conducts mergers and acquisitions, it also issues additional shares to investors for financing.

In other words, some listed companies obtain matching funds through private placement to realize mergers and acquisitions, so private placement and matching financing are the same thing here.

Question 8: Does the new refinancing regulation1August include matching funds for mergers and acquisitions? Three core contents: 1. The interval between the municipal company's application for additional issuance, allotment and non-public offering of shares is less than 18 months. Control financing frequency and restrain financing; 2. The number of shares to be issued by the municipal company applying for non-public offering of shares exceeds 20% of the total share capital before issuance, and does not affect mergers and acquisitions; 3. Defining the pricing benchmark can be the first influence of the issuance period of non-public offering shares. Point 1, point 3, guiding the new policy platform on three main aspects of arbitrage space policy: 1, reducing fixed speculation, public offering, allotment, convertible bonds and preferred shareholders; 2. The third fixed increase basically disappears unless the control right is increased; 3. Nearly 90% of non-princesses are published in 1 without increasing space. Growth enterprise market has more advantages. Its fixed issuance needs to be locked in the first time. You can continue to reduce your holdings. The new policy is the same as that of existing shareholders. The policy was pushed faster than expected. There is less room for games. Look at the policy guidance attitude of the regulatory authorities. We are determined not to compare the market impact with the supporting emission reduction policies. From the perspective of the regulatory authorities, we hope that the market will introduce water. At present, the company's operating pressure is particularly high, 5 billion. Companies without cash can start mergers and acquisitions, and mergers and acquisitions will become more and more strict. New regulations will be issued to release the first pricing policy. M&A will be priced at an average price of 20 120, and PE and M&A funds will be innovated. Supporting the financing department can lead to a small proportion of cash price, raise enough funds for the basic assets, improve the initial stock price of asset quality, and increase the difficulty of issuing and subscribing for asset quality. Generally speaking, the new policy is not new.

Question 9: Whether it is good or bad for a company to issue shares to buy assets to support financing depends on the quality of assets. Too high a premium is not good.

Question 10: The two questions upstairs about whether the matching financing for restructuring exceeds 25% are correct ~ the matching financing amount is 25% of the total plate ~ generally it will be below 25%. More than 25% is equivalent to going through the IPO again, and the advantages of backdoor can't be reflected ~ I don't know if there are more than 25% cases, I hope an expert can add it ~