2. A stock exchange is an on-market market, that is, a joint-stock company that does not trade in the on-market market can only be called a listed company. As a result, all companies listed on the OTC market (including the New Third Board and regional equity markets). ) can't be called a "listed company", only a "listed company".
Listing only gives the company the qualification of a public company, but the company still does not have many qualifications, such as public offering qualification, competitive trading mechanism, fixed-income qualification and so on. The realization of assets and value and financing that most listed companies can achieve are achieved through public offering qualification and fixed increase, so most listed companies are actually unable to obtain financing.
In a narrow sense, listing is initial public caffengs(IPO initial public offering), which refers to the process in which an enterprise issues shares to investors for the first time through the stock exchange in order to raise funds for enterprise development. When a large number of investors subscribe for new shares, they need to draw lots for allotment, which is also called drawing new shares. Investors who subscribe expect to sell at a price higher than the subscription price.
In the environment of China, listing can be divided into three ways: China companies are listed in China or Shenzhen Stock Exchange (A shares or B shares); China companies go directly to overseas stock exchanges (such as new york Stock Exchange, Nasdaq Stock Exchange and London Stock Exchange) (H shares); China companies indirectly set up offshore companies overseas and listed on overseas stock exchanges in the name of offshore companies (red chips).
A listed company refers to a joint stock limited company whose registered place is in China, and its shares are listed and traded in the agency share transfer system.