摘要：In recent years the mergers of companies have seen a setback due to the economic crisis and the implications that it has generated in the market. As such, the reasons behind the implementation of mergers have changed, if, in prior periods the common reason for merger was the desire to integrate into current business activity and the profits resulting from the resources which were to be invested in that business creation and development, under the present conditions, the mergers are becoming more and more a way to keep the business or selling on the best terms. One of the options available, especially for small and medium sized private companies, seeking new sources of funding, is to achieve a reversed merger. The objective of this paper is to present the concept of reversed merger in relation to Initial Public Offering. A company must always set to the smallest detail, the reasons for wishing to change its status from private to public. One way to obtain public status is given by the reversed merger, an alternative to the Initial Public Offering. The private company that wants to go public, purchases over 80% of a public company but inactive, company called shell company. Once this shell company merges with the operational company of the buyers, they form an active company, a listed company, in which the majority of the shareholders are represented by the major founders of the operating company
关键词：Initial public offerings; Reversed mergers; Shares; Capital
