1, listing and listing place are different.

The listing place is different from the enterprise. Listing is usually carried out in local equity trading centers, such as Shenzhen Qianhai Equity Custody Trading Center, Shanghai Equity Custody Trading Center and Hunan Stock Exchange. The listing places are two national securities trading centers, Shenzhen Stock Exchange and Shanghai Stock Exchange.

2. Different trading methods.

After an enterprise goes public, the shares held by investors can only be redeemed and transferred by shareholders in the equity custody trading center, but there are basically no other investors here to undertake relevant equity transactions, and the opportunities are not liquid. After an enterprise goes public, its shares can be traded freely in the secondary market with strong liquidity.

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When a company becomes a listed company, we insist for the first time. There are three steps.

1. He must apply for public offering of shares first.

He will be guided by the insurance company.

He wants to apply to the stock exchange for listing permission.

Let's talk about distribution first.

1. The securities issuance management system includes the examination and approval system and the approval system.

2. Distribution method:

According to different issuers, it can be divided into public offering and private offering;

According to the existence of distribution intermediary, it can be divided into direct distribution and indirect distribution;

According to different purposes of issuance, it can be divided into initial issuance and capital increase issuance.

Second, talk about the conditions for initial public offering.

1. The production and operation conform to the national industrial policy;

2. There is only one common stock issued by it, and the same shares have the same rights;

3. The share capital subscribed by the promoters shall not be less than 35% of the total share capital to be issued by the company;

4. The proportion of net assets to total assets at the end of the year before the issuance is not less than 30%, and the proportion of intangible assets (excluding land use rights) to its converted share capital is not more than 20%;

5. The total share capital of the company is not less than RMB 50 million;

6. The portion to be publicly issued to the public shall not be less than 25% of the total share capital to be issued by the company. If the share capital to be issued exceeds 400 million yuan, the proportion of the public offering may be reduced as appropriate, but the minimum amount shall not be less than 65,438+05% of the total share capital to be issued;

7. The promoters have not committed any major illegal acts in the last three years;

8. Continuous profits in the past three years, etc.

Third, talk about listing counseling.

Stock issuance and listing counseling refers to the standardized training, counseling and supervision of the joint stock limited company to be issued and listed by the relevant institutions. The counseling institution for issuance and listing shall be a qualified securities institution, and in principle, it shall be the same securities institution as the lead underwriter for issuing shares for the company. Contents of consultation

① Training ② Asset reorganization, and clarifying the relationship of property rights.

(three) to formulate articles of association and establish a standardized organization.

(4) Assist the company in accounting adjustment.

⑤ Assist the company to make a fund-raising plan.

⑥ Coordinate all intermediaries.

Fourth, issue a prospectus.

Prospectus is a legal document that when a joint stock limited company issues shares, it publicly discloses relevant matters to the public and sends an offer or invitation to specific or unspecified investors to buy or sell its shares.