SOME COMMENTS ON ROADSHOW IN OVERSEAS MARKET receive, important, companies, chance

594meng

也就是在美国上市的优点或必要性

5566

Stockbrokers see many companies each week coming though their doors to sell a story. Invariably the broker is looking for a reason to buy the stock, but just as importantly he is looking for a reason why not too. If one thing doesn't sound right to him, or someone contradicts what someone else says, then they will not give you a second chance, they'll move on to the next opportunity. So preparation from your team is vitally important. Being prepared for all the questions you expect to receive and have it worked out beforehand who will answer which questions.

* Following on from that, I believe it is important that you avoid where possible talking to each other too much in Chinese. Invariably the broker may be a little sceptical and will wonder what they are talking about. If you do need to, make sure that yourself  explains to the brokers what is being discussed.

* Focus on reassuring the brokers in the areas of corporate governance and investor relations. They will all have memories of what happened in the mid 90's and it is important that you highlight how much things have changed since them and how corporately China is vastly different. Regular contact and updates post listing is imperative. Maybe committing to being here quarterly to give update presentations. Very important that the investors are not forgotten post listing. You want them to be long term investors and they need to feel comfortable and informed on an ongoing basis. Good news or bad news, they must be kept informed.

* As mentioned previous, as very clear explanation regarding the reasons for listing in US will be important.

* Avoid any comments such as "we will consider or think about that after listing". That will not hold, they will expect a clear direction and clear policies that the company will stick too.