The Express Delivery Company Goes Public Through a Backdoor Listing based on the Backdoor Listing of Dingtai New Material by SF Express

Abstract

In China, enterprises face relatively huge costs in going public, resulting in enterprises preferring indirect listing methods such as backdoor listing to Initial Public Offerings (IPO). At the same time, backdoor listing has also saved many traditional industries with declining performance, making both parties win-win. At present, the logistics industry is developing rapidly. In 2016, logistics companies have been backdoor listing, logistics industry competition is becoming increasingly fierce, and more and more logistics enterprises choose to go public in order to enhance competitiveness and improve the status of the industry. Choosing the right timing and backdoor listing with a precise strategy will produce no less wealth than an IPO. This paper takes SF Express' backdoor listing of Dingtai New Material as a case, conducts performance analysis based on a theoretical basis, studies the impact of backdoor listing on the financial performance of enterprises, and provides experience for other logistics enterprises planning to adopt backdoor listing.