What does IPO mean? If a company listed in Hong Kong buys at IPO price, what will be its income?

"IPO" means the listing of new shares.

IPO is an initial public offering, that is, an initial public offering.

Initial public offering refers to the first time that a private enterprise sells shares to the public. Usually, the shares of listed companies are sold through brokers or market makers according to the terms agreed in the prospectus or registration statement issued to the corresponding stock exchanges. Generally speaking, once the initial public listing is completed, the company can apply for listing on the stock exchange or quotation system.

Another feasible method of listing on the stock exchange or quotation system is to stipulate in the prospectus or registration statement that private companies are allowed to sell their shares to the public. These stocks are considered to be "freely traded", which makes enterprises meet the requirements of listing on the stock exchange or quotation system. Most stock exchanges or quotation systems have rigid regulations on the number of shareholders of listed companies, which stipulate the minimum number of freely traded shares.

Why did it take so long to implement IPO? Because the main task in the last year is the share reform, and this task is basically over one year after the share reform, then the stock market will certainly resume its basic functions.

In addition to IPO, it can also be raised by issuing additional shares, allotment, bonds and other financing methods.

The advantage of IPO is to bring new blood to the stock market, good investment varieties and good return on investment to investors.

"IPO" means the listing of new shares. Unlisted enterprises, through the listing of shares, can make all the venture assets of shares swell, and when the shares are sold, they can get an income to expand reproduction. The background of the sharp increase of IPO in the United States is entrepreneurship, venture capital, accounting law firms and investment bankers, who provide venture enterprises with business and business regulations such as development funds, finance, taxation and law, as well as personnel management services, forming a complete IPO system. These stock affairs participated in the whole process from the establishment of venture enterprises to the public listing of stock standards, forming the IPO industry.

According to the survey data of Nikko Research Center, the growth of American venture enterprises generally goes through three stages. In the early stage of a startup, angel (individual investor) invested 1 ~ 2 years in R&D; After the venture enterprise runs for 2 ~ 5 years, the products leave the factory, and then venture capital is invested; When product sales are on the right track and investment enterprises want to expand production, they can raise a lot of capital through IPO. Can this process be completed as soon as possible? Can a venture enterprise succeed? The key is entrepreneurship and the support of IPO industry. Compared with the United States, China still lacks in these aspects.

First of all, full of entrepreneurial spirit. Americans will not let huge bureaucracies and big enterprises stand in the way of their future. Many of them will soon join the ranks of entrepreneurs after entering large institutions or enterprises. The American ideal is to be an entrepreneur, and as an entrepreneur, you must make achievements.

Second, venture capital, accounting law firms and investment bankers explore and find venture enterprises and strive to support IPO. In the United States, angels make initial investments in enterprises. Venture capital not only invests in enterprises, but also participates in enterprise management, sales plan, financial strategy and talent recruitment. American accounting law firms also participate in the IPO operation of venture enterprises, charging certain service fees and consulting fees. Service charges are generally very cheap. In the United States, not only large investment banks like Merrill Lynch have many high-risk enterprises such as high-tech, biology, electronic communication and Internet, but also some small and medium-sized investment banks have more than 1000 venture enterprise investors, and some even have a waiting list. These investment bankers dig and look for venture enterprises all over the United States, and strive to cultivate them into listed enterprises.

In China, the situation is very different. It's hard to find "angels" in a venture technology. Even if there is, it is a state-owned enterprise or a state-owned scientific research institution, although sometimes the government will give some subsidies. Venture capital and accounting law firms hardly participate in IPO operation. They only have relations with enterprises when they start to set up or apply for listing, or when they encounter legal disputes. The investment concept of venture capital in China is short-term, and little attention is paid to the growth of enterprises, which can be reflected in the phenomenon of "fund insider" and "illegal stock speculation" in a stock market. China's investment funds are still far from perfect. Until now, the trust law and the investment fund law have not been promulgated. On the one hand, a large number of retail investors make irrational speculation in the environment of asymmetric technology and information; On the other hand, the number and scale of investment funds are small, which makes it difficult to meet the investment needs of investors. There are even fewer investment bankers in China, and it is difficult for China people to entrust their money to others for management, which is related to the lack of trust, responsibility and restraint. In the United States, investment bankers dig and collect venture enterprises everywhere, and train them to carry out IPO. In China, only when venture enterprises go public, they hire investment bankers to carry out "listing packaging".

It is under such circumstances that the fees paid by venture enterprises to accounting firms, securities firms and investment banks are quite expensive, especially the rent-seeking fees are much higher than the service fees. In order to establish China's Growth Enterprise Market, it is urgent to establish entrepreneurial spirit and cultivate risk talents. Establish our own IPO mechanism such as "venture capital, accounting firm, investment banker" and form our own IPO industry. We know that the high risk of venture enterprises comes from three aspects: technology, market and management.

Due to the asymmetry of technology and information, it is difficult for small and medium-sized investors to resist market risks by directly investing in venture enterprises. Therefore, it is necessary to cultivate a large number of institutional investors, for example, to set up various specialized high-tech investment funds, such as online stock investment funds, new materials stock investment funds, bioengineering stock investment funds and so on. And these investment foundations do venture capital. Because of the large scale of investment, investment funds need to train a group of experts to conduct in-depth research and planning on the invested enterprises. The strong strength of investment funds may also train a large number of high-level experts who can judge and choose IPO enterprises and make rational investments. After holding the shares of start-up enterprises for a certain number of years, all kinds of investment funds are allowed to circulate and transfer in the stock market to realize the withdrawal of investment funds. In this way, on the basis of expert financial management, we will gradually form our own IPO system and industry.