Chapter 1840 One Battle Will Determine the Outcome (Third Update)

When Ma Yun's Alibaba wanted to be listed in Hong Kong, the Hong Kong Stock Exchange, which was already gradually declining, agreed to all the conditions in order to have a shocking stock listing, except for one thing it couldn't agree to.

That is "same shares with different rights".

Ma Yun requires that his shares in Alibaba have different rights for the same shares, but the Hong Kong Stock Exchange insists on the same rights for the same shares.

The difference here does not lie in the par value of the shares themselves, but in the voting rights.

Different rights for the same shares is a strategy developed by the Americans.

As the founders continue to raise capital, they will continue to reduce the shares held by the company.

In order to maintain maximum control over the company, founders may want to convert their shares into shares with the voting rights of two, three, or even ten shares of common stock.

In this way, even if it is only 10% of the stocks in their hands, they can still play a role of 20%, 30% or even more.

In a super-large stock market like the United States, the president of a listed company can be considered invincible if he can hold 30% of the voting rights - usually institutional investors can hold 3% or 5%. There are already too many. Thousands of institutional investors may not even be able to control 1% of the stocks.

Therefore, this kind of clause of different rights for the same shares is very beneficial to these entrepreneurs.

But for other investors, whether they are institutional investors or ordinary investors, Wu Lu is not so friendly.

I worked hard to buy stocks. Although making money is the most important thing, you have deprived me of my right to vote and my right to express my attitude towards the company. This is a bit uncomfortable.

It's just that this kind of atmosphere has already formed in the United States, and under extreme conditions, when other shareholders unite to oust the founders who hold 40% or 50% of the voting rights, it is not Never had.

So they can still accept it.

Xiangjiang stated that it is determined to defend the rights of every investor. Every stock issued by Alibaba represents a voting right, no more, no less.

If you want to be different from others, then it violates our rules. I am very sorry and cannot agree to it.

Of course Ma Yun disagreed.

He only holds about 7% of Alibaba shares. If the same shares have the same rights, he might step down if several shareholders unite one day.

Therefore, when the conflict between the two parties could not be reconciled, Ma Yun gave up the Hong Kong Stock Exchange and chose Nasdaq in the United States.

This was deeply regretted by the people in Hong Kong, so they criticized the Hong Kong Stock Exchange for being so pedantic and letting a big fish, or rather a whale, go.

Why do Hong Kong stock investors scold the Hong Kong Stock Exchange for being pedantic?

In fact, it’s not just because they want to get Alibaba’s shares and make money, the most important thing is that they have actually experienced such an era before.

They have experienced the era of different rights for the same shares.

In the 1970s and 1980s, Xiangjiang had similar shares with different rights.

Take Wheelock now as an example. It is a typical stock with different rights.

It's just a different way.

There are two types of Wheelock stocks.

One is A shares, which are stocks with normal market value. One share represents one vote.

The other is B shares, whose price is one-tenth of A shares, but one share represents one vote.

Did you see that?

Isn’t this a typical case of different rights for the same shares?

A large number of the 14% stocks held by the Madden family belong to this type of B shares, thus ensuring that their family's control over Wheelock is no less than the voting rights held by Zhang Yuliang.

At that time, people in Xiangjiang were very dissatisfied with Wheelock's approach.

So after the establishment of the United Stock Exchange, they abolished the measure of AB shares and could only have the same shares with the same rights.

Whether this approach is good or not, or whether it has any disadvantages, is not what we will discuss today.

Any policy move in the world will have both good and bad aspects, depending on the environment and position at the time, as well as the final effect obtained.

Today, Xiangjiang's stock market is in a period of weakness after a surge.

The lowest point last year was in late July, when the Hang Seng Index fell to a miserable 747 points.

But at the end of the year, after the joint statement came out, the Hang Seng Index continued to skyrocket, reaching 1,200 points by the end of the year, with a total increase of 60.6%.

In January this year, Kirin Real Estate announced that apartments in Kirin Peninsula were on sale. The price of 1,000 yuan per square foot encouraged the market, and the highest point reached 1,350 points.

However, as the Spring Festival approaches in February, the stock market lacks the stimulation of good news and is now trading sideways, with the Hang Seng Index falling to the 1,280-point range.

However, the surprise appeared suddenly.

In the midst of preparations, on February 14, Singaporean tycoon Khoo Teck Puat publicly made a takeover offer to all shareholders of Wheelock.

His acquisition offer was 6 yuan per share for A shares and 6 cents per share for B shares.

At the same time, Qiu Deba announced that he had acquired 14% of the Madden family's shares, making him the second largest shareholder after Zhang Yuliang.

Under this inevitable winning attitude, Wheelock's stock rose all the way, and the trading volume was very high.

Because Qiu Deba's price has exceeded the market price by 10%.

Don't underestimate this 10%.

Although there is no limit on the rise or fall of the stock market in Xiangjiang, the prices of those junk stocks that were speculated increased by 20% one day and another 20% the next day... Not many investors bought such stocks.

Everyone has been trading stocks for many years, how come they don’t even know the basic knowledge?

If you want to get rich, in addition to luck, you also need to find the right stocks.

And the first criterion for success in stock trading is not to lose money.

Wheelock's stock will not lose money, but it will definitely not make money.

Because they, the management, are best at losing money to shareholders and enriching themselves, even though Wheelock's profits have always been good, its stock price has not increased much.

On the contrary, if there is a stock market crash, Wheelock will definitely be the first to drop in price.

So suddenly Wheelock was acquired, and the price offered was still 10% profit. Of course, many investors who had been dissatisfied for a long time directly sold their stocks.

But there are also many investors who hold stocks in their hands and want to see if there is any movement from Zhang Yuliang.

After all, Qiu Deba came here to control Wheelock. If Zhang Yuliang did not want to be squeezed out, he would definitely fight back.

Qiu Deba is a rich man in Singapore, and Zhang Yuliang is not bad either. He definitely has a comprehensive asset of 5 billion Hong Kong dollars.

If we include the property of the four Zhang brothers, it will not reach 10 billion Hong Kong dollars, but it will not be much different.

By the next day, there was indeed a new trend.

But it was not Zhang Yuliang who took action, but the chartering king.

The charter king suddenly announced that the Bao family, in the name of Bao's private consortium, already owned 34% of Wheelock's equity and was preparing to completely control Wheelock.

For companies in Xiangjiang, the standard for major shareholders is 34.9%, and the standard for complete control is 50%.

With a shortfall of 16% of the shares, the chartering king showed the courage to acquire Wharf back then.

The prices he gave were 8 yuan per Wheelock A share and 8 cents per Wheelock B share.

Calculating the price, it is 133% of Qiu Deba's.

Qiu Deba didn't even react. He and his staff had been in meetings all morning. Before he could decide whether to engage in this brutal acquisition war, Kirin Group's CEO Le Yiling issued a statement.

"Kilin Group will provide HK$10 billion in loans to the Bao Group for normal commercial acquisition activities."

All right.

If the chartering king had messed around and disrupted Qiu Deba's plan with high prices before, Le Yiling's statement was a fatal blow.

10 billion Hong Kong dollars!

How many companies in Asia have so much cash?

But Qiu Deba is convinced that Qilin Group did not lie at all.

Their monthly income exceeds HK$5 billion, and they hold more than HK$100 billion in their hands.

Although most of it is unpaid money from last year's house sweeping and sweeping, it can be used for misappropriation, and there will be no problem at all.

Now if the Kirin Group says it wants to borrow money, even banks far away like Royal Bank of Scotland, Royal Bank of Holland, and Bank of Zurich will have to rush in to compete with Citibank of the United States and Sumitomo Bank of Japan. Loan more to Kirin Group.

Money is an important factor in deciding whether to acquire or not.

But on the other hand, it’s still momentum.

Just like the charter king in this acquisition war.

Five years ago, the Charter King and Jardine Matheson competed for the Wharf, and the battle was really fierce.

In the end, the chartering king raised the price to 105 yuan per share in one breath, which scared off the chief executive of Jardine Matheson Co., Ltd. and won the victory.

In fact, if the two companies really compete for financial resources, no matter how rich you are as a charterer, you will not be able to compare with Jardine Matheson, the largest commercial house in Hong Kong.

But the chartered king's relentless drive convinced Niu Bijian that if he tried to fight, he would suffer heavy losses if he won.

It would be better to give in and give up the Wharf to the charter king, and then sell the stocks and get a lot of profits.

So the charter king won.

The current 133% of the Charter King is certainly his usual momentum, but compared to the Wharf takeover battle, the Charter King now has one more momentum.

That is the "power" lent to him by the Kirin Group!

What kind of company is Kirin Group?

In addition to HSBC, the Kirin Group is the largest company in Hong Kong, and its capital has far exceeded that of Jardine Matheson.

His boss Yin Jun is the richest man in Hong Kong and the world!

The most important thing is that Yin Jun has a higher status in the hearts of Xiangjiang people than Mr. Huo and the Charter King, and most Xiangjiang people are willing to listen to him!

Now that Yin Jun has come out to support the chartering king, you can only imagine who those Wheelock investors will sell their stocks to.

After thinking about all this, Qiu Deba stood by the window as if he had aged a few years, without saying a word for a long time.

After a long time, he sighed and ordered: "Contact Mr. Bao, I want to treat him to a meal!"

Those present were all veterans who had followed Qiu Deba for many years.

They were all very sad when they heard the boss's tone.

This feeling of being forced to admit defeat before even trying your best is so cowardly!

But they are not fools. They all know that the boss's decision is the most correct and the best way to protect themselves.

Otherwise, let alone one Qiu Deba, even ten Qiu Deba would not be able to fight with Yin Jun and the Charter King in Xiangjiang.

Rather than getting a bloody head-on, it would be better to admit defeat and exit in advance, and maybe get some benefits.

At least, these Wheelock stocks in my hand should be able to be sold at a good price, right?

After all, when doing business, making money is important, but stopping losses is equally important.

If the business fails, you can still make a little money and get out, which is even more important for a group company.

But everyone also felt deeply sorry.

If this battle is successful, Qiu Deba can enter the Xiangjiang market and greatly expand his business!

…

The pony leader who grew up eating hot pot rewarded a leader and a leader. I tried my best to update three chapters. Thank you so much!