By listing a company, despite raising fund for further expansion for the company, most importantly is to enrich the major shareholder by sell out some of their share.
2nd, by listing a company, major shareholder can establish as much private owned companies as possible which can trade within the amount set by regulation with the listed company. Those companies sure profit with guarantee sales to the listed company. Those are categorized as recurrent related party transaction.
3rd, listed company can act as final resort to buy out whatever investment or asset major shareholder would like to sell. Which mean major shareholder can feel safer to invest. If anything happen like cannot find buyer or investment turn sour, listed company will come and help.
As a minor shareholder, we are always at a disadvantage position. What we can hope for is a good corporate government and strict law and implementation by overseeing authority.
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