Yesterday, there was a message on the Internet that disclosed the IPO cost list of listed companies recently.Anzheng fashionThe total cost of listing is as high as 81.19 million yuan, and Cossen Technology has reached 76.9 million yuan. Looking at a number of listed companies, in order to achieve listing, the cost is tens of millions of yuan. This means that companies not only have to pay huge time costs when queuing IPOs, but they also have to bear high capital costs.
Industry insiders told the Beijing Youth Daily reporter yesterday that the fees that listed companies usually need to pay during the IPO process include: sponsorship fees, audit fees, attorney fees, statutory information disclosure fees, issuing fees, and stamp duty, among which the highest proportion of sponsorship underwriting fees It can usually account for more than 70% of the total cost of issuance, and some even up to 90%, and the audit fees of CPAs often only account for 3% to 6% of the issuance costs. Such as ShenzhenSmall and medium boardofGossbergThe total amount of sponsorship underwriting expenses is 34 million yuan, accounting for 73% of the total cost of 46.12 million yuan, while the audit capital verification fee is 6.3 million yuan and the lawyer's fee is 1.65 million yuan. The latter two ratios are about 13% and 3.5%. Among the companies listed recently, the total underwriting expenses of Corson Technology of Shanghai Stocks amounted to 59.57 million yuan, accounting for more than 77% of the total expenses. The proportion of auditing fees and legal fees was 9.3% and 6.1% respectively;gementerpriseFei RongdaThe total amount of sponsorship underwriting expenses was 44 million yuan, accounting for 81% of the total expenditure of 54.29 million yuan. The ratio of auditing, evaluation and capital verification fees to lawyers' fees was 9.1% and 3.13% respectively.
For the high sponsorship underwriting expenses, some people compare the corporate IPO to the sales process of a commodity - the sponsor underwriter is equivalent to a salesman, the biggest hero who directly sells the goods, and naturally should receive the highest commission. However, although it seems that the cost of sponsorship underwriting is considerable, there are people familiar with the matter. The sponsor underwriters have formed a community of destiny with the companies to be listed, because the IPO project income of the sponsor underwriters is mainly divided into financial advisory fees, sponsor fees and Underwriting fees, in which the financial advisory fee is earned earlier, and the latter two are issued after the release. This means that if the company's listing is successful, then everyone is happy, and the sponsor underwriters can get the full cost as they wish. However, if the company's listing plan is terminated, the sponsor underwriters can only get a very low percentage of sponsorship fees, which are usually several million yuan, or even the cost.
Therefore, the sponsored underwriters seem to have the most lucrative sponsorship underwriting fees, but the lawyers and audit fees are relatively low-risk. In fact, because the process of listing a company is often slow, sometimes it can take several years to achieve a positive result. According to relevant regulations, in this long process, it is necessary to periodically refresh the data report and conduct audits, and these fees are charged on a per-time basis. of. For example, the financial data updated every six months, each time need to be audited, each time is about 300,000 yuan. If the company waits for three years to go public, it means that it has to pay six audit fees during this period. The lawyer’s fees are also paid annually. This is undoubtedly a bottomless pit for spending money for a number of listed companies that have been queued for a few years.