债券上市

最后，本文结合公司上市首日的交易价格提出了自己的观点，认为IPO定价的研究应结合发行价与首日交易价格进行。可转换债券上市首日溢价的实证分析

Lastly , the author brings forward that the combination of pricing and first-day dealing price is very necessary . Empirical Study on the Premium Rate of First-day Traded Price of Convertible Bond

申请公司债券上市的董事会决议；

Resolution adopted by the board of directors regarding the application for listing ;

（二）公司情况发生重大变化不符合公司债券上市条件；

The company experiences major changes , which do not conform to the conditions for a company to list its bonds ;

（三）公司申请其债券上市时仍符合法定的公司债券发行条件。

And ( 3 ) The conditions for issuing the bonds shall be met at the time when a company applies for listing its bonds .

第五十条公司申请其发行的公司债券上市交易，必须报经国务院证券监督管理机构核准。

Article 50 . The application filed by a company for listing its bonds must be approved by the securities regulatory body under the State Council .

国务院证券监督管理机构可以授权证券交易所依照法定条件和法定程序核准公司债券上市申请。

The securities regulatory body under the State Council can authorize the stock exchanges to approve a company 's application for listing its bonds in accordance with legal conditions and legal procedures .

第五十七条国务院证券监督管理机构可以授权证券交易所依法暂停或者终止股票或者公司债券上市。

Article 57 . The securities regulatory body under the State Council can authorize the stock exchanges to suspend or terminate the listing of a company 's stocks or bonds in accordance with the law .

公司解散、依法被责令关闭或者被宣告破产的，由证券交易所终止其公司债券上市，并报国务院证券监督管理机构备案。

When a company is disbanded , ordered to close in accordance with law , or announced bankrupt , the stock exchanges shall terminate the listing of its bonds and report for the record to the securities regulatory body under the State Council .

可分离债券发行上市对标的股票的影响

Study on the Impact of Warrants Bond Issue on the Underlying Stocks

江苏阳光股份有限公司是我国证券市场实施核准制以来的第一家发行可转换公司债券的上市公司。

Ltd is the first listed company that may publish convertible bonds since the ratification system was performed in securities markets in China .

我国发行可转换债券的上市公司主要集中于制造业，因此制造业发行可转债具有代表性。

And the companies which issue convertible bonds mainly focus on manufacturing sector , so the listed manufacturing companies which issue convertible bonds are representative .

债券的上市日期为当期发行债券的债权债务登记日后的第三个工作日。

The listing date of bonds shall be the third working day after the registration date of claim and debt for the bonds issued at that period .

本文从自我积累、财政注资、发行长期次级债券、上市等几个方面入手，分析了充实四大国有商业银行自有资本的途径。

The paper analyses the way of enriching self-capital of four bigger business bank from four aspects including self-accumulation , finance investment , issuing long term subordinate bonds , coming into market etc.

解决资金问题途径有很多，如银行贷款、发行债券、上市融资等，但是这些方式往往不是对企业资金要求极高就是需要一定国企背景。

Maybe there are more than one way to solve this problem , such as Loan or Securitization or IPO , but all these ways have very strict rules or will coast a long time .

从可转换债券融资看上市公司两类股东的利益冲突

Conflict of Interests between Two Types of Shareholders in Listed Companies : The Perspective of Convertible Bond Financing

我国证券市场首只浮动利息债券010004的上市，给市场提出了浮息债券应如何定价的问题。

The first floating rate T bond ( 010004 ) has gone on public in Shanghai Stock Exchange Market . So the challenging question of how to price of the floating rate bonds is put forward .

第一百零八条证券交易所依照法律、行政法规的规定，办理股票、公司债券的暂停上市、恢复上市或者终止上市的事务，其具体办法由国务院证券监督管理机构制定。

Article 108 . The stock exchange handles affairs regarding suspension , resumption , and termination of the listing of stocks and corporate bonds on the basis of law and administrative regulations . The concrete procedures are formulated by the securities regulatory body of the State Council .

汇丰大中华etf系列问世之前，已有一只汇丰债券etf在港上市。

The new HSBC Greater China ETF funds are in addition to an HSBC Bond ETF listed in Hong Kong .

这批债券将于今天上市交易。

The bonds will begin trading today .

传统的西方融资理论认为，发行可转换债券可以有效提高上市公司的绩效水平。

According to the traditional theory , the issuance of convertible bonds can effectively improve the performance of enterprises .

2.2发行人申请其所发行的公司债券在本所上市交易，应当向本所提出申请并经本所同意。

2.2 the issuer applying for listing its corporate bonds at the exchange shall apply to the exchange and obtain the consent of the exchange .

亚行已申请让这些债券在香港交易所上市，使其成为首只在该交易所交易和结算的人民币计价证券。

ADB has also applied to list the bonds on the Hong Kong stock exchange , which would make them the first renminbi-denominated securities to be traded and settled on the bourse .

除此之外，还对可转换债券优化我国上市公司治理结构等创新应用进行探索，并提出我国可转换债券市场运作模式的体系。

Besides which , this paper explores innovation application of convertible bonds in capital market such as optimizing listed corporate governances and put forward the operation mode system of China convertible bonds market .

第五十九条公司公告的股票或者公司债券的发行和上市文件，必须真实、准确、完整，不得有虚假记载、误导性陈述或者重大遗漏。

Article 59 . The documents published by a company regarding the issuance and listing of its stocks or bonds shall be true , accurate , and complete and no fake records , misleading statements , or major omissions are allowed .

发行人向本所申请其首次公开发行的股票、上市后发行的新股和可转换公司债券在本所上市，以及公司股票被暂停上市后申请恢复上市的，应当由保荐机构保荐。

The application by issuers to the bourse for the listing of initial public offerings , shares newly issued after the listing and the convertible company bonds , and the application for recovered listing after the suspension of listing the company 's shares shall be recommended by recommendation agencies .

论文选取近几年我国银行间债券市场与交易所债券市场发行上市的企业债券，参照国外学者定义抑价方法，结合我国企业债券市场，对抑价模型进行分析研究。

Our paper firstly selects corporate bonds that are publicly issued from the inter-bank bond market and bond exchange market in recent years , then discussing the underpricing model referring to the underpricing methods of scholars abroad with combining with the curent situation of corporate bond market in our country .

其次，本文分别对美国、日本和德国的公司债券市场的发展状况、公司债券品种、发行上市制度和机构投资者等方面进行分析。

Secondly , this paper analyses the market condition , varieties , IPO system and organizational investors of the corporation bond in the United States , Japan and Germany respectively .

首先介绍了研究背景及意义、国内外研究现状，从可转换债券的概念和性质出发，分析阐述了可转换债券发行对上市公司业绩影响的作用机理。

This paper introduces the background and the significance of the research , research state . Based on the concept and nature of the convertible bonds , we expounded the mechanism of the effects on the performance of listed companies .