What does "listed company" mean?

A listed company refers to a joint stock limited company whose publicly issued shares are listed and traded on the stock exchange with the approval of the securities administration department authorized by the State Council or the State Council. A listed company is a joint stock limited company, which must meet certain conditions besides being approved to be listed and traded on the stock exchange.

The listing requirements of listed companies are:

1. With the approval of the State Council Securities Regulatory Authority, the stock has been publicly issued to the public.

2. The total share capital of the company is not less than RMB 30 million.

3. It has been in business for more than three years and has been making profits continuously in the last three years; If the original state-owned enterprise is established after being rebuilt according to law, or if it is newly established after the implementation of this law, and its main sponsors are large and medium-sized state-owned enterprises, it can be counted continuously.

4. The number of shareholders holding shares with a face value of more than RMB 1000 yuan is not less than 1000, and the shares publicly issued to the public account for more than 25% of the total shares of the company; If the company's total share capital exceeds 400 million yuan, the proportion of its shares issued to the public is more than 10%.

5. The company has no major illegal acts in the last three years, and its financial and accounting reports have no false records.

6. Other conditions stipulated by the State Council.

Extended data:

Advantages and disadvantages of listing companies.

First, advantages

1, get the funds.

The boss of the company sells a part of the company to the public, which is equivalent to letting the public take risks with themselves. For example, 100% of companies will lose money 100, 50% of companies will lose money, and only 50% will lose money.

3. Increase the liquidity of shareholders' assets.

4. Escape from the control of the bank without relying on bank loans.

5. Improve the transparency of the company and increase public confidence in the company.

6. Improve the company's popularity.

7. If a certain share is transferred to the manager, the contradiction between the manager and the company holder can be alleviated, that is, the agency problem.

Second, shortcomings.

1, listing costs money.

2. While enhancing transparency, many secrets are exposed.

3. Inform shareholders of the company's information at regular intervals after listing.

4. It may be maliciously controlled.

When listing, if the stock price is set too low, it will be a loss for the company. In fact, this is a common practice. Almost all companies will set their share prices higher when they go public.

References:

Listed company-Baidu Encyclopedia