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10月8日,中国证监会正式颁布《上市公司收购管理办法》和《上市公司股东持股变动信息披露管理办法》。种种迹象表明,上市公司基于国有股转让的重组正掀起证券市场新一轮重组热潮。从近期披露的情况来看,已有洞庭水殖、胜利股份、佛塑股份3家公司出现管理层收购现象,那么这种模式在中国是否对路?它究竟让谁受益是值得探索的。本刊专访了曾经为四通、好孩子等企业做过MBO的国内股份制专家刘纪鹏教授,他提出了许多值得深思的课题。
On October 8, China Securities Regulatory Commission formally promulgated the Measures for the Administration of the Takeovers of Listed Companies and Measures for the Administration of Information Disclosure of Changes in Shareholdings of Listed Companies. There are indications that the reorganization of listed companies is based on the transfer of state-owned shares are set off a new round of restructuring the securities market boom. Judging from the recent disclosure, there have been management buyouts in three companies, namely Dongting Aquaculture, Victory, and Fushu. So is this model right in China? Who is benefiting from it is worth exploring. The magazine interviewed Professor Liu Jipeng, a domestic joint stock system expert who once made MBO for companies such as Stone and Goodbaby, and put forward many issues worth pondering.