Chapter 1527: The Broken Ship Still Has 3000 Nails
Monday, May 11.
At 9:30 in the morning, the Hong Kong stock market opens!
The opening price of Teng Xun was 31.2 Hong Kong dollars.
As soon as the market opened, the decline exceeded everyone's expectations.
When Yuanfang announced that more than 100 million users had uninstalled Teng Xun's products, Teng Xun's biggest confidence was that the number of QQ users who were online at the same time fell below 10 million, which once again made investors panic.
At this time, countless stockholders are crying and waiting for the receiver, waiting for someone to come to rescue.
And Teng Xun also responded to appease.
According to Ma Huateng's words, if it falls again, some things will still be there.
For the 10% shares of Yuanfang Mall, f still has one year of agency rights left. According to Li Dong's bragging, these two things alone are worth tens of billions of RMB!
Plus Teng Xun's fixed assets, patented technology, brand...
Even if Teng Xun has nothing now, there is always something worth 20 billion Hong Kong dollars!
In fact, it is far more than this price. After all, unless Teng Xun really does not continue to operate, as long as it continues to operate, although it has withdrawn from the ranks of first-tier IT giants, it is still no problem to hang some second- and third-tier companies.
If the market value falls again, it will not fall below 30 billion Hong Kong dollars, right?
What Teng Xun said this time is very straightforward. Based on the total share capital of 1.7 billion, if it falls below 20 Hong Kong dollars, someone is definitely manipulating the stock market. In fact, it should not be below 30 Hong Kong dollars.
Of course, 30 Hong Kong dollars means that Teng Xun’s market value is still above 50 billion Hong Kong dollars. It’s hard to say whether anyone agrees with this.
But no matter what, the panicked stockholders were a little quieter.
If it falls again, it will not fall below 20 Hong Kong dollars. This is what Teng Xun said. Although Teng Xun's credibility is very doubtful at this time, you should trust Li Dong's stuff, right?
Unless, Li Dong slaps himself in the face and insists that his products are worthless.
If you really want to do this, Li Dong will lose in the end, and it will only be bigger!
Once he says that Yuanfang Mall is worthless and f is worthless, what will happen to the financing in the future? What about going public?
Although big guys can talk nonsense sometimes, it doesn't mean they can talk nonsense repeatedly.
Besides Teng Xun’s products from far away, their own stuff is still there. As long as compatibility is restored, I dare not say that all users will come back, and returning a batch is inevitable.
At that time, Teng Xun may have lost his status as the overlord, and he was still a giant among the second-tier IT companies.
Even Internet companies such as Focus, Ctrip, and Netease currently have a market value of several billion dollars. Even if Teng Xun does not do instant messaging, or if it is smaller, based on their foundation, it will not be too big to focus on game platforms or other things. Difference.
Don't dare to say that the previous market value of 20 billion U.S. dollars is not worth 5 billion U.S. dollars?
Therefore, Teng Xun said that it would not fall below 20 Hong Kong dollars, which was unanimously recognized by the industry and the outside world, and some institutions even gave a purchase price of 30 Hong Kong dollars.
As long as the stock price in the secondary market falls by 30 Hong Kong dollars, it is worth buying.
Next, no matter whether Teng Xun regroups and continues to return to the front line, or chooses to withdraw from the field of instant messaging and move to other fields, they will not lose money.
Or, Teng Xun chooses to suspend trading and reorganize, split and merge the industry, anyway, the camel will be bigger than the horse in the end.
Unlike Ali, which fell below the issue price, this possibility does not exist for Teng Xun.
Ali’s listing price is actually somewhat inflated. Their total share capital is much higher than that of Teng Xun. The listing price starts at 13.5 Hong Kong dollars. According to the issue price, the market value is as high as about 9 billion U.S. dollars.
So Ali can fall below the issue price, but Teng Xun will not.
A few days ago, it was necessary for publicity. Yuanfang and a large number of experts hoped that stockholders would panic, and they needed to suppress Teng Xun before saying that they would delist at the issue price. In fact, this possibility obviously does not exist.
As soon as these analyzes came out, Teng Xun's stock price was still falling, but when it fell to around 28 Hong Kong dollars, it began to maintain.
There are capital institutions entering the market!
Profit-seeking is the instinct of capital institutions. Although Teng Xun's current situation is difficult, he may completely lose hope of returning to the front line again.
However, even if it cannot be killed back, the current price is affordable.
Moreover, these institutions are very well informed, and the Huaxia government has already begun to intervene.
As soon as Monday started, the person in charge of Yuanfang was interviewed, as were Teng Xun and Baidu.
Although the Internet is a virtual world, it does not mean that you can act recklessly. The two-day war on Saturday and Sunday has seriously affected the interests of countless netizens.
In fact, there was a department conducting mediation on Sunday, but the distant party was delaying the time, and the other party could bear it for a day.
On Monday, some leaders from the Ministry of Industry and Information Technology personally called Li Dong, and their tone was more severe.
In this case, if Yuanfang doesn't want to hate these departments, within three days at most, it will definitely restore compatibility, so as not to be enforced in the end and lose face instead.
Three days, plus the first three days, the longest time is six days. Although Teng Xun must have suffered heavy losses, six days is not enough to completely kill Teng Xun.
These situations are all obvious, and capital institutions are not stupid. When they don’t enter the market at this time, when they enter the market, and if they wait any longer, they may all have to enter the market.
Of course, there must be restrictions on entering the market from afar.
While the other party uses special means to suppress the other party in business, while entering the stock market at a low price, a reputation for manipulating stock prices is unavoidable.
To be honest, the distance will also suffer.
At this time, the probability of Li Dong entering the market is not high, especially on a large scale. It is not a big problem to play with a small amount of money.
In fact, for Li Dong and the others, making a small fortune in the stock market doesn't make much sense.
Winning Teng Xun is much more cost-effective than making small troubles in the stock market.
...
distance.
Several people from Yuan Chengdao gathered together, and Liu Honghui reported: "ih made a condition, and they also guessed the next choice between us and Teng Xun.
In fact, this kind of thing can't be hidden from ih, after all, the other party is the largest shareholder.
What ih means is that they redeemed the shares in the hands of absa, holding a total of 44.5% of Teng Xun's shares.
And these shares, they hope to continue to keep them, and wait for our restructuring plan to be completed, and the proportional dilution will be carried out.
Of course, the other party is still the same as before. It only pays dividends and does not participate in the operation.
This condition is actually not unacceptable..."
Liu Hong glanced at Li Dong as he spoke. He knew what Li Dong was thinking, but this condition was really not too harsh.
Moreover, even if Yuan Fang wants to buy back, he must have money!
According to the current market price, at 30 Hong Kong dollars per share, the other party holds 44.5% of the shares, and the market value is more than 22 billion Hong Kong dollars.
Now that ih has seen the purpose of Yuanfang, the possibility of price reduction is very low.
Before, it was Yuanfang's attitude of killing everything, which made ih a little panicked, but now Yuanfang reveals the meaning of mergers and acquisitions, and the form is completely different.
Of course, capital institutions don't want to have too much trouble with the management team, which is not good.
Yahoo has had a lot of trouble with Ali, and now both sides are at a disadvantage.
ih gave up management rights and voting rights, and only hoped to retain their original interests. They also hoped that Li Dong could create greater wealth for them. In fact, they didn't want to make trouble with Yuan Fang.
Generally speaking, if the original major shareholder is so straightforward, the acquired company will only be happy.
But Li Dong is not easy to say.
Liu Hong said and said: "Besides, since we are going to acquire Teng Xun for restructuring, and even directly use it to go public, then the financing plan..."
Li Dong frowned and said, "Of course we will continue! Where can we get the money without financing? How can we acquire Teng Xun without money? Do you really think that Ma Huateng gave us away for nothing?"
Liu Hong coughed lightly and said: "Actually, what I mean is that we first acquired Teng Xun so that we can get all the war dividends.
After that, we can introduce capital and carry out restructuring plans, so that we can maximize our benefits. "
Once the financing is completed and Teng Xun is acquired with the financing funds, the profits will be shared with the financing companies.
Before that, Teng Xun was acquired, and the financing plan could be delayed. Of course, it was not called financing at that time, but asset restructuring.
As for why these institutions are introduced in the reorganization, the key is the issue of money.
It is impossible to acquire Teng Xun without spending money. There is no money in the distance, and borrowing money is actually not a good thing, especially now.
Introduce capital institutions, let PP borrow part of the funds first, and then use the financing money to repay. In this way, it is equivalent to using their money to monopolize Teng Xun's dividends.
And the capital institutions will not be unhappy. After all, after the reorganization, the listing will be resumed. There will definitely be money to be made, and everyone will benefit from each other. No one will lose. There is no reason not to agree.
Teng Xun's reorganization and listing still needs the support of some institutions.
Especially this time, once Teng Xun backdoored, he could only choose to go public in Xiangjiang.
With the scale after the reorganization of PP and Teng Xun, the scale of listing and financing will not be too small. Without the support of these capitals, it will not be possible to rely solely on scattered shareholders.
The listing of a company is a feast for both capital and management.
If you want to leave one side alone and enjoy it for yourself, there is no such possibility.
Li Dong tapped on the table lightly, and said after a while: "Teng Xun's total share capital is now 1.7 billion shares. After our reorganization, I will make a budget first, and plan to add 3.3 billion share capital, a total of 5 billion shares.
ih occupies 750 million shares out of 1.7 billion shares. If the total share capital is 5 billion shares, the other party still holds a diluted 15% stake, which is a bit high. "
Even if pp wins this time, it is actually impossible to surpass Teng Xun by twice in the end. Of course, there is still hope if he wins from afar.
Teng Xun at this moment is different from the previous few days.
In the end, the total listed share capital was 5 billion shares, and ih occupied 15% of the shares. Li Dong was a little unhappy.
Liu Hongwen said: "Then we can talk about it again, we will buy a part and settle it in cash.
The other part is maintained at around 10%. What do you think?
Anything less would be hard for IH to agree with.
Of course, we can do some negotiations on the purchase price, and even in the subsequent restructuring process, we will use our advantages to continue to expand the proportion of PP.
You said 5 billion shares, is there no hope for 5.5 billion shares?
I think there are still some, even 6 billion shares, keeping Teng Xun's total share capital unchanged, there is something to be said..."
While he was talking, Tan Haiying on the side suddenly said: "Actually, we can talk about buying back the shares of the mall!"
"Cough cough cough!"
Everyone coughed, Ma De, are people in the distance so greedy now?
At this time, repurchase the shares of the mall, think too much!
What's more, the cooperation between the mall and Teng Xun is still necessary. After Teng Xun resumes listing, he can't help Yuanfang Mall open the port for free, right?
Moreover, the repurchase does not cost money!
Don't say that Teng Xun didn't agree, but if he agreed, Yuanfang had to consider whether it was worthwhile.
It’s not that Li Dong said that the value of the mall is as much as it is. The price Teng Xun paid at the beginning was not low, and after Teng Xun’s reorganization, even PP was counted in Teng Xun’s industry. Now that he has repurchased the shares of the mall, he will ask you for a shared rental fee , the mall has to pay a large amount of money extra.
Li Dong has always been relatively independent, talking about sharing, but actually wishing that everything was his own.
But at this time, even Li Dong couldn't help coughing lightly and said: "There is no need to repurchase the shares of the mall, not to mention that Teng Xun still owes us 2 billion in cash, in fact we made money.
Next, the 2 billion cash can also play a big role.
With the 2 billion in cash, it is no problem to exchange some of the shares of Teng Xun for the money that cannot be obtained.
We hold a part in our hands, weaken the strength of the original Teng Xun system, and dilute part of it after the reorganization. In this way, the share capital held by the original Teng Xun system will eventually be reduced to less than 1 billion shares, which is more in line with our expectations.
Let me calculate the total share capital as 5 billion shares first. Teng Xun’s original system accounted for 1 billion shares. Later, some institutions were introduced to hold 500 million shares. In addition to the existing share capital in the secondary market and our subsequent additional issuance, it is also about 1 billion. shares left and right.
In this way, we hold half of the equity in our hands, which is more in line with my expectations. "
What Li Dong calculated was Yuanfang's shareholding ratio after listing.
More than half, for a person like him who is used to holding shares, less than half, it always feels uncomfortable.
Weibo has now been diluted and dropped by 50%. Li Dong actually feels that it is not reliable, and doubts that it will become someone else's one day.
Fortunately for Weibo, Teng Xun and PP-related industries together are much larger than Weibo. If he doesn't control it, then Li Dong is not very reconciled.
Seeing what Li Dong said, Liu Hong thought for a moment and said: "If it is kept at about 50%, I don't think it is too difficult. We can talk to ih including Teng Xun's operation team first.
When the general direction has been negotiated, we will choose to suspend trading and reorganize.
As for the level of the stock market price, it doesn't have much impact on us at present, the main thing is to prevent ih and the others from continuing to buy, so as to avoid the other party's final shareholding ratio being too high.
In fact, the opponent will not choose to enter the field at this time. After all, we have not given definite information here, and everything is possible. "
Li Dong nodded and said: "That's how it is, in fact, I was planning to talk to Ma Huateng's team, but after much deliberation, IH's side is still unavoidable.
Then everyone can talk about it openly, there is no need to hide it.
At present, only when Yuanfang acquires the other party can they maximize their interests. Everyone can understand this.
As long as neither party suffers too much, the merger and reorganization is almost inevitable. On the whole, we still have the initiative.
Let the airlines prepare. We will go to Shenzhen City tomorrow morning to start negotiations.
The battle of exclusion does not need to end tomorrow, it will end immediately on Wednesday the day after tomorrow.
If it doesn't end, I can't take it anymore, old man Zhang almost scolded me on the phone in the morning..."
Li Dong shook his head, a little helpless.
The crowd couldn't help laughing, the old man Zhang he was talking about was the first brother of the Ministry of Industry and Information Technology, so Li Dong called the other old man Zhang on this occasion.
However, that person is not bad to Yuan Fang, and he is actually good to Li Dong. He did a lot of work for the Wanka license before, and when the balance account appeared, the other party was also running around.
It's not about the number of personal friends, or other transactions.
The old man has a relatively rigid personality. During the period of leading the Ministry of Industry and Information Technology, he also hopes that the Internet industry can achieve breakthrough development. Some of Li Dong's ideas are more appetizing to the other party.
If it weren't for this, so many Internet companies rejected the war this time, which caused a large-scale heated discussion among netizens. As the instigators, Yuanfang and Teng Xun would have to take the lead.
It is still in a state of mediation, and the Ministry of Industry and Information Technology is also contributing.
Li Dongneng said, everyone can't, Liu Hong nodded and said: "I will arrange it later, and it will end in the early morning of the 13th, and the four days before and after are still within the acceptable range."
"That's how it is, prepare for what you should, and I'm afraid you will meet many people when you go there this time.
Ma Yun, Zhou Hongyi, Li Yanhong, Cao Guowei...these guys may all pass by, cheer me up and hate whoever I see!
If you want to grab food from my mouth, Li Dong, you have to squeeze the thickness of your arms! "
What Li Dong said was domineering, but others were vigilant.
By now, everyone should understand that whether Teng Xun will continue to persevere, sell the property or make other choices, this is a good opportunity to grab dividends.
A large number of executives and top technical talents of Teng Xun may be a little bit confused at this time.
Pay a little price, and you may not get a bonus.
As for Yuanfang, what we have to do now is to keep the big head and prevent too much from being divided up by these people.
ps: At the beginning of the month, ask for a guaranteed monthly pass!