对原水吸收合并凌桥的换股比例估算的思考.doc

对原水吸收合并凌桥的换股比例估算的思考
1.2万字 13页



论文摘要
一、 换股比例估算方法的选择
二、 换股比例的估算
1、 模型的选择
2、 确定模型参数的比例关系
2、 确定换股比例
三、 上市公司间吸收合并的流通股比价问题
1、 国有股减持配售
2、 发行认股权证
参考文献




论文摘要

本文以估算原水股份吸收合并凌桥股份的换股比率为例，说明上市公司间换股比例必须以内在价值作为交易标准，并在估价过程中体现了对换股比例估算的特殊估价理念：只须确定双方的相对价值而不必估计绝对价值，最后针对上市公司间换股合并出现的流通股和非流通股价值比较标准不一致的新问题提出两种解决方案。

[关键词] 吸收合并、相对价值、流通股和非流通股




Abstract

With the particular absorption merger case, the article mainly illustrates share exchange rate calculation as follows:
First, It deals with the point that internal values of listing shares should be set as the criteria for share exchange rate; Second, the special idea is believed that such exchange rates can be reached by calculating relevant value of stock shares other than absolute value of a single share; Third, the author brings up two eligible plans for situations when tradable and non-tradable shares have different criterias during the merger case.

Key Words：Absorption merger, relevant value, tradable shares, non-tradable shares