1、Going PublicCapital Market ServicesYour decision to go public is a significant milestone in the development of your company,offering the exciting prospects of propelling your company to higher ground.A listing offers many benefits,including a new source of capital for future growth,and for private e
2、quity investors,a preferred exit strategy to realise the fruits of dedication and investment.However,the listing process can be challenging.The path to listing requires a large commitment and realistic timelines.Proper planning for each stage of the initial public offering(IPO)process is essential.T
3、o ensure you can continue focusing on your companys operations while moving towards an IPO,you need professional advisors who are familiar with the IPO process and who can foresee issues and help you in resolving them at an early stage.When partnering with PwC,you can rest assured in knowing that th
4、e firm has extensive experience in public offerings,listings and private placements,both locally and internationally,across a broad range of industries.Over the past five years,PwC has served as the reporting accountant for newly listed companies on the Hong Kong Main Board,and accounted for 48%of t
5、he total listing funds raised.As a market leader and a pioneer in the capital markets,we were the reporting accountants of the first H-share listing and the first GEM listing in Hong Kong.In terms of China A-shares,PwC has a lot of experience in assisting these enterprises to successfully list,regar
6、dless of small and medium-sized private enterprises or central and regional state-owned enterprises.The great majority of the companies we helped to list remain our clients today.The firm has thorough knowledge of different regulatory regimes,listing rules and procedures to provide high-value servic
7、es to companies interested in raising funds through all major capital markets in the world,including Beijing,Shanghai,Shenzhen,Hong Kong,Singapore,London and New York.PwC is with you every step of the way.Your decision to go public1Going PublicAfter you have made the strategic decision to go public,
8、there are various important issues to consider during the critical pre-listing period.At this stage,the reporting accountant plays an important role to guide you during the various issues and considerations and help you to get ready for IPO.Pre-listingOverview of the listing processGoing Public2Dete
9、rmine the listing businessEquitystoryWhich marketTrackrecordStrategic investorsGroup restructuringTaxationCorporate governance&internal controlsAssess IPO readinessDecide to listYou realise you have a business with a proven track record and exciting business prospects.You have an idea about how to g
10、o for a listing to raise funds and to enhance your reputation and realiseyour growth potential,but you do not know how to proceed.At this stage,your business may be organised under various companies with a different ownership structure.Certain businesses will not be included in the listing plan and
11、have to be taken out.At this very important pre-listing stage,it is common to conduct a corporate restructure to streamline the company and put all relevant business under a single listing vehicle.In addition,companies may have funding needs before going public.Some of them will seek angelor strateg
12、ic investors at this stage to obtain funding on the one hand and to access their businessexperience on the other.At the outset,your companys streamlined efforts during the pre-listing stage are critical to thesuccess of the IPO process.The right advisor will make all the difference.Assess readiness
13、for a public listing,especially when it is combined with the requirements of regulatory agencies,identify potential listing concerns(such as appropriate shareholding structure issues,independence issues,related party transactions,continuing operations and profitability issues,financial normative iss
14、ues,etc.),assess the importance of the issues,and provide feasible solutions and timelines;Review accounting implications on group restructuring and suggest necessary actions;Provide strategic advice on capital market alternatives and fund raising possibilities and introduce strategic investors;Prov
15、ide advice on Environment,Social and Governance(ESG)disclosures and strategy;Provide a wide range of tax services to achieve greater tax efficiency for the businesses under the proposed listing and operation structure,and for the owners;Assist company shareholders and core executives in personal tax
16、 planning;Advise on the regulatory requirements and process for an IPO and develop together with you a viable strategy to handle the listing process and enhance the equity value of the listing proposition;Review key internal control procedures in relation to financial reporting processes and provide
17、 recommendations to enhance the relevant processes;Conduct pre-listing audits before IPO listing enables the company to make more accurate judgments based on the audited results.It can also shorten the time required for listing.How PwC can help3Going PublicBy now,you have begun the IPO process and h
18、ave formed an IPO-dedicated internal working team to deal with the demands of listing.You have also appointed various professional parties for the IPO,including sponsors and underwriters,the reporting accountant,lawyers,and a valuer.Prepare offering documentVetting of offering document by regulatory
19、 authoritiesApproval for listingAppoint professional partiesWith the assistance of your appointed professionals,you are now preparing the offering document to apply for the listing.The regulatory authorities will review the draft offering document and pose questions throughout the vetting process un
20、til the document is finally approved.Only after your offering document is approved can you start your marketing roadshow to sell the shares and finally get listed.Going Public4ListingDecide to listIntroduce professional parties,manage IPO projects on your behalf and coordinate with all parties to en
21、sure deadlines are met;Act as reporting accountant for the IPO and perform applicable procedures on historical and prospective financial information where applicable;Act as internal control and corporate governance consultant and provide recommendations;Provide accounting advisory services,such as c
22、onverting the financial statements from local accounting principles into International or Hong Kong Financial Reporting Standards.How PwC can helpStrategic investorsRoadshow(public offering&private placing)Form an internal workingteamDuring the listing5Act as your auditor and carry out periodic audi
23、t/review and report to shareholders,directors and the audit committee;Assist your company in identifying and executing merger and acquisition opportunities;Provide and share information on the latest developments and changes in accounting standards,financial reporting,corporate governance,listing ru
24、les and other applicable regulatory matters;Provide updates on the latest developments and changes on accounting standards,financial reporting,corporate governance,listing rules and other applicable regulatory matters;Act as internal control and corporate governance consultant and carry out reviews
25、to provide enhancement comments;Act as reporting accountant for on-going capital market transactions,such as issuance of new shares,bonds,major restructuring and other transactions.The IPO process and challenges do not end after you have listed.From time to time,a listed company will be under strict
26、 public scrutiny to disclose up-to-date information to investors.How PwC can helpGoing PublicFinancial and regulatory reportingOngoing complianceInvestor relationshipMergers&acquisitionsRegulatory authorities require at least an interim report and an annual report to be published and issued to share
27、holders within a given timeframe.You will need to have an experienced finance team and adequate financial reporting systems to cater ongoing reporting requirements.Going Public6ListingEnhancementof corporate governancePost listingWhy PwC?Leadership in professional services in Chinese mainland,Hong K
28、ong and TaiwanPwC is one of the largest professional service organisations in the world.Our professionals from around the globe offer world-class services and unparalleled insights to clients.PwC entities in Chinese mainland,Hong Kong,Macau and Taiwan,coordinate on a collaborative basis,subject to l
29、ocal applicable laws.Collectively,we have over 28,000 professionals,including over 1,000 partners.We possess extensive experience,specialist knowledge and skills required for structuring,merger and acquisition and regulatory issues.We are also the tax advisors to a large number of listed groups and
30、multinational corporations.3428,000peopleofficesOver7in Chinese mainland,Hong Kong,Macau and TaiwanGoing PublicPwC continued to lead and excel while providing our clients with high-quality audit services.We continue to earn trust from regulators,clients and the industry,while maintaining the leading
31、 position in the market:In 2022,PwC ranked first in Chinas CPA industry for the 19th consecutive year 1PwC was also named the“2022 Best Service Provider of the STAR Board”2As at 2022 year end,PwC ranked no.1 in audit market share attaining a total of RMB 38.4 trillion total market capitalisation of
32、our audit clients in A-share market,Hong Kong market and Chinese companies listed in the U.S.In 2022,PwC ranked first in terms of total funds raised on the A-share Main Board,as well as for the largest IPO in terms of funds raised on both the A-share Main Board and the STAR Board.PwC also secured th
33、e top spot in terms of the total number of IPOs on the Hong Kong market.Remarks：1.“Top 100 accounting firm in 2021”rankings released by the Chinese Institute of Certified Public Accountants(CICPA)2.The award was issued by Caijing magazine and the STAR Market Data CentreGoing Public8PwC has experienc
34、ed professionals involved in public offerings,listings and private placements,both locally and internationally.To help our clients to raise funds or complete capital market transactions successfully in any of the major stock exchanges,we have a dedicated capital market specialist group to provide su
35、pport on different regulatory regimes,listing rules and related regulations.The Chinese mainland and Hong Kong Capital Market Services Group is part of the global network of capital markets specialists.It comprises a core team of specialists who provide services to companies in connection with all a
36、spects of Chinese mainland and Hong Kong capital market transactions.These include advising our clients preparing for becoming a listed company,selecting the right market and advisory team,advising on group restructuring,accounting and regulatory issues and acting as reporting accountants.capital ma
37、rket functionsWell connected 9Going PublicPwCs Global IPO Centre has a unique global network of people,values and services,bringing world-class solutions to all of our clients with our collective knowledge and experience.We have a team of over 500 professionals deployed in over 30 key global capital
38、 markets.With our in-depth knowledge of the execution process and the rules and regulations governing the worlds leading capital markets,we can help clients choose the right markets for their businesses and navigate every phase of the complex IPO process.Our IPO Centre makes it easier for you to und
39、erstand what you need to know,and what you need to do,to complete an IPO.We can help you evaluate the pros and cons of an IPO,navigate the listing process and prepare your business for life as a public company,regardless of the market you choose to list on.Global IPO CentreEurope&AfricaIPO CentreAme
40、ricas IPO CentreAsia&Australia IPO CentreNational Capital Markets Groups/SpecialistsGoing Public10Xuemei LiPartner,Beijing,PwC China+86(10)6533 2927Going Public11Brian ChoiCapital Markets and Accounting Advisory Services Leader,PwC China+86(10)6533 2068China NorthGeorge YuenPartner,Beijing,PwC China
41、+86(10)6533 2060Yansheng WuPartner,Beijing,PwC China+86(10)6533 5906China CentralEdmond ChanPartner,Hong Kong,PwC Hong Kong+852 2289 1128China SouthEddie WongPartner,Hong Kong,PwC Hong Kong+852 2289 2896ContactsJie ShenPartner,Shanghai,PwC China+86(21)2323 3659Pauline LeungPartner,Hong Kong,PwC Hong
42、 Kong+852 2289 1809Michelle ZhaoPartner,Shanghai,PwC China+86(21)2323 5504To further understand our business and services,please contact us at:12PwC officesGoing PublicBeijing26/F,Office Tower A,Beijing Fortune Plaza 7 Dongsanhuan Zhong RoadChaoyang District Beijing 100020,PRCTel:+86(10)6533 8888Fax
43、:+86(10)6533 8800Shanghai11/F,PricewaterhouseCoopers Center 2 Corporate Avenue,202 Hu Bin Road Huangpu DistrictShanghai 200021,PRCTel:+86(21)2323 8888Fax:+86(21)2323 8800Guangzhou18/F,PricewaterhouseCoopers Center10 Zhujiang Xi Road,Pearl River New City Tianhe DistrictGuangzhou 510623,PRCTel:+86(20)
44、3819 2000Fax:+86(20)3819 2100Shenzhen34/F,Tower A,Kingkey 100 5016 Shennan East Road Luohu DistrictShenzhen 518001,PRCTel:+86(755 8261 8888Fax:+86(755)8261 8800Hong Kong22/F,Princes Building,Central Hong Kong,PRCTel:+852 2289 8888Fax:+852 2810 9888Macau14G,Finance and IT Center of Macau Avenida Dout
45、or Mrio Soares No.320,Macau,PRCTel:+853 8799 5111Fax:+853 8799 5222ShenyangUnit 2717,Office Tower 1,Forum 66 1-1 Qingnian Da JieShenhe DistrictShenyang 110063,PRCTel:+86(24)8615 6588Fax:+86(24)8615 6500Tianjin36/F,The Exchange Tower Two,189 Nanjing RoadHeping DistrictTianjin 300051,PRCTel:+86(22)231
46、8 3333Fax:+86(22)2318 3300Dalian8/F Senmao Building 147 Zhongshan Road Xigang District Dalian 116011,PRCTel:+86(411)8379 1888Fax:+86(411)8379 1800JinanRoom 1801,China Overseas Plaza No.6636 2nd Ring South Road Shizhong DistrictJinan 250002,PRCTel:+86(531)6879 4988Fax:+86(531)6879 4900Qingdao37/F,Tow
47、er One,HNA IMC Center 234 Yanan Third RoadShinan District Qingdao 266071,PRCTel:+86(532)8089 1888Fax:+86(532)8089 1800ZhengzhouUnit 15A12,Tower 8,KineerCenter North 51 Jinshui East RoadZhengdong New District Zhengzhou 450046,PRCTel:+86(371)6197 6988Fax:+86(371)6197 6900Xian7/F,D Block,ChanganMetropo
48、lis Centre88 Nanguan StreetXian 710068,PRCTel:+86(29)8469 2688Fax:+86(29)8469 2600NanjingRoom 12A01,South Tower,Jinmao Plaza 201 Zhongyang RoadGulou DistrictNanjing 210009,PRCTel:+86(25)6608 6288Fax:+86(25)6608 6210HefeiUnit 4306,Block B,China Resources Building 111 Qianshan RoadShushan District Hef
49、ei 230022,PRCTel:+86(551)6488 4688Fax:+86(551)6488 4600Going Public13TaiwanTaipei27/F,No.333,Sec.1,Keelung Road Xinyi Dist,Taipei 11012,TaiwanTel:+886(2)2729 6666Fax:+886(2)2729 6686Tainan12/F,No.395,Sec.1,Linsen RoadEast DistTainan 70151,TaiwanTel:+886(6)234 3111Fax:+886(6)275 2598Kaohsiung22/F,No.
50、95,Minzu 2nd Road Xinxing DistKaohsiung 80048,TaiwanTel:+886(7)237 3116Fax:+886(7)236 5631Taichung12F,No.402,Shizheng RoadXitun DistTaichung 40757,TaiwanTel:+886(4)2704 9168Fax:+886(4)2254 2166Taoyuan30/F,No.1092,Zhongzheng RoadTaoyuan DistrictTaoyuan 33045,TaiwanTel:+886(3)3158888Fax:+886(3)3585499
51、Hsinchu City5/F,No.2 Industry East 3 Road Hsinchu Science Park Hsinchu 30075,TaiwanTel:+886(3)578 0205Fax:+886(3)577 7985SuzhouUnit 02,42/F West Tower,Trirun Fortune Plaza 9 Suzhou Avenue WestSuzhou Industrial Park Suzhou 215021,PRCTel:+86(512)6273 1888Fax:+86(512)6273 1800WuxiUnit 701,Xinfa Huirong
52、 Plaza D26 Hefeng Road,Xinwu DistrictWuxi 214135,PRCTel:+86(510)8056 8688Fax:+86(510)8056 8600WuhanUnit 04,3/F,Building No.6 Red T Fashion Creative Block 8 Jiangwang RoadJianghan Economic Development Zone Wuhan 430000,PRCTel:+86(27)5974 5818Fax:+86(27)5974 5800ChengduUnit 04,26/F Tower 1,Raffles Cit
53、y Chengdu No.3,Section 4,South Renmin Road Wuhou DistrictChengdu 610041,PRCTel:+86(28)6291 2188Fax:+86(28)6291 2088HangzhouUnit 1301,Block A,China Resources Building 1366 Qianjiang RoadJianggan DistrictHangzhou 310020,PRCTel:+86(571)2807 6388Fax:+86(571)2807 6300NingboRoom 1203,Tower E,Ningbo Intern
54、ational Financial Center268 Min An Road East JiangdongDistrict Ningbo 315040,PRCTel:+86(574)8187 1788Fax:+86(574)8187 1700ChongqingRoom 1905,19/F Chongqing Metropolitan Oriental Plaza 68 Zou Rong Road Chongqing 400010,PRCTel:+86(23)6393 7888Fax:+86(23)6393 7200ChangshaUnit 1918,19/F,Tower 2,HC Inter
55、national Plaza No.109,FurongRoad Middle Section 1 Kaifu DistrictChangsha 410008,PRCTel:+86(731)8633 7000Fax:+86(731)8633 7010KunmingUnit 04,26/F Tower 1,Raffles City Chengdu No.3,Section 4,South Renmin Road Wuhou DistrictChengdu 610041,PRCTel:+86(871)6553 5988Fax:+86(871)6553 5900XiamenUnit E,10/F I
56、nternational Plaza 8 Lujiang RoadSiming District Xiamen 361001,PRCTel:+86(592)210 7888Fax:+86(592)210 8800HaikouUnit 404,International Offshore Innovation Building Fullsing Town Zone E32 Binhai Avenue,Longhua District Haikou 570105,PRCTel:+86(898)6860 8888Fax:+86(898)6860 8800ZhuhaiUnit 2303,Zhuhai
57、Tower1663 Yinwan Road,XiangzhouDistrict,Zhuhai 519030,PRCTel:+86(756)2721 588Fax:+86(756)2721 500GuiyangUnit 1802,Tower 9 Financial City,55 Changling North Road,Guanshanhu District,Guiyang 550081,ChinaTel:+86(851)8861 2288Fax:+86(851)8861 2200This content is for general information purposes only,and should not be used as a substitute for consultation with professional advisors.2023 PwC.All rights reserved.PwC refers to the PwC network and/or one or more of its member firms,each of which is a separate legal entity.Please see for further details.
sgpjbg002
工作日 9:30 - 18:00
会员动态：
报告分类
新质生产力
ChatGPT
新能源汽车
大模型
Sora
机器人
微短剧
芯片
薪酬
白皮书
低空经济
数据要素
创新药
人工智能
AI产业
信息科技
互联网
消费经济
汽车交通
电商零售
传媒娱乐
医药健康
投资金融
能源环境
地产建筑
传统产业
英文报告
其它
扫码登录
手机快捷登录
账号登录
