the stock split and Sugu the applying namely quite essential. For example

1.20110303, Nature 5 (400001) - Close: 6.31 yuan, traded: 625 hand.
2. Beijing Zhongxing 5 (400,006) - Close: 2.38 yuan, traded: 3525 hands. Today, the Taurus (400 006) is 5 5, the merely two webs share the stock dripped.
three new board of 9 suspect China Securities Journal: The new three-plate
preparations and deployment of the SFC, is expected to launch this year, China's OTC market, where people commonly known as the Main Board and GEM) the restricted capability, coupled with the honesty of issuers and sponsors awareness of the quality of legal awareness and investors are still to be improved. Therefore, the Main Board and GEM system can only be made by the trial approval system. Approved Although strict control of way to the system's texture, but it is, at last, increased audit prices, reducing the efficiency of the company listed. Conversely, it may also elicit the issuer and the sponsor of moral hazard. For this cause, people have been advocating the presence of market option within the registration system to replace the agreement system. but I believe that the market to implement the registration system at the venue was precocious, but may think in the OTC market (new three board) trial registration system. In this course, both the motherboard and the Venture for the future Registration System for the collection of board experience, but also for small and medium high-tech enterprises to facilitate access to equity financing.
listed objects - traditional industries, high-tech emerging industries
OTC PK market is a market floor important supplement to category. The new historical mission of the Third Market, mainly for those who are not qualified because listing in the Exchange market equity financing for SMEs to provide a become. However, along to the experience of foreign OTC market, the new thing should be listed on the three board set high-tech SMEs, converge on encouraging the evolution of new industries, in order to endow to establishing one innovative country. In addition, three new board is also provided for the delisting, object key advocate for two categories of companies may be considered: First, from the board, small board and the GEM delisting of the company; two non-listed high-tech, high-growth small and middling enterprises, and their listing standards should be much lower than the GEM. But the new Three board should not be shut out of traditional industries, this will aid to encourage the folk business, encourage entrepreneurship to build jobs, to promote industrial upgrading and economy restructuring.
listing standards - the high threshold low-threshold
PK in the listing standards, three new board should be significantly lower than that small board and the GEM, but to protect the legitimate rights and interests of small investors, the initial period of the threshold can not be set too cheap, to await for the new expansion of the three panels and then gradually decreased to a certain size listing standards. in the initial listing standards , you can distinguish among two differ object settings: First, from the board, small board and GEM board turn over the delisting company, no condition, can be instantly listed in the new three-plate; Second, non-listed, high technology, high-growth small and medium enterprises listed in the new three-panel, at least absence to encounter three conditions: the aggregate share chief of not fewer than 1,000 shares; elapse three continuous profitable, and three years of cumulative net profit of not less than 10 million yuan; net assets not less than 1,000 yuan. (the time is ripe, then slit a new three-line listing standards board)
delivery means - PK incremental stock publish
issued three new board function of the availability of equity financing depends primarily on the listed shares distribution methods. The new three-way board listed shares issued no more than two: First, the stock issuance; the second is issuing new shares. stock holdings of issued shares of the company's important shareholders of the process, but also the major shareholder money equity behavior. However, listed companies, the stock issuance does not have the financing function. issuance of new shares are listed ashore the inherent requirements of the company growing, it has a financing function. small companies listed in the new three panels, the basic function is listed, pricing, migrate, addition awareness, presentation of new strategic investors, issuing new shares afterward the time is mellow financing, and can choose the approximate (Main Board and GEM) listed.
transaction mode - centralized competitive market maker quotations
the OTC PK market information incomplete, the emerging industrial investment vocational, uncertainty, paired with the listed companies are small, high mortality, therefore, appearance the Western amplified market maker trading system is generally accustom to fashion a twice auction mechanism: an is listed among the company's multiple market maker bid, and second, market makers and investors command. I believe that in the initial launch of the new three-panel, you can Stock Exchange's transplant to accommodate retail or small investor trading habits; At the same time, or zero in the block trading volume occurs, you can attempt manipulating the market maker system. until the time is ripe, in the Third Market and the full implementation of the new market production business transaction system, annul the centralized auction trading.
strict information disclosure system
new three board listed companies are routinely small, single business, accounting simple and easy to prepare and inspect monetary expressions, therefore, fully new three board company implementation of strict accounting and auditing system. Meanwhile, three new board company because of lofty mortality, investment hazard, therefore, should promptly and accurately unveil to investors the company more than ample information. I trust that the three new board company's information disclosure In addition to a cloud of magnificent entities, the disclosure should also be four quarterly and daily reports on a normal basis to reserve the investors hazard and operational risks hinted the industry, and all reports filed with the SEC.
split, Sugu and stock par value < br> Hong Kong stock market, if in China or in the U.S. stock market, stock splits are listed companies with Sugu
especially in the current three-plate system with the Transfer of Stock Exchange, the stock split and Sugu the applying is quite essential. For instance, from the embark, small board and GEM board turn over the delisting the corporation, in mandate apt return to Stock Exchange listing, they tin be Sugu, then the train of introducing strategic investors to attain the re-listing intentions; Similarly, the three panels in the current fast-growing listed companies tin too be split to preoccupy investors, enhance mart emotion; course In the new three-board nailed titular amount tin not be unified (for example, the provisions of the existing par merit of 1 million), in truth, numerous alien titular value of shares of listed companies is no uniform, not fixed, it can be set independently along the company.
transfer new three-panel board system
China's future for OTC, it is important to build a multi-level chapter of the stock market. When the new board after the achievement of the three, it will melodrama two important roles: First, as the scrap yards, three new board will be responsible for entirely received from the board, small board and the GEM of the delisting companies, providing them the opportunity to transfer; Second, as the emerging industries or entrepreneurial business incubator and cultivation of the new board will be three motherboards, small board and entrepreneurship board to provide new, prevalent market, resource sharing, the purpose of an orderly withdraw. The new three-panel alternate board system, the Main Board and GEM can be used as hair trial system to
delisting system
order to protect the interests of small investors, yet also to discourage a new three-board diluted to a licensing standards can be extra uncomplicated, more effortless to operate, case in point, the three panels listed in the new phase, all 3 years in a row, Top free software stocks (new research reported Daquan) Nature 5 (400,001) Beijing Zhongxing 5 (400 006): age and shares the two networks who PLAY?