Chapter 321: Surprises and CCTV Calls
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When Li Xiaofan left the Nasdaq exchange demonstration hall, the highest share price of Yahoo was US dollars.
And now, after coming back from the nearly hour-long interview, the Yahoo stock price displayed on the screen, driven by surging buying, has reached a new high and reached the US dollar, and is making great strides towards the US$60 mark. The integer has left the US$60 mark. Only one step away!
Wall Street and investors from all over the world, fueled by major television media and online media, became enthusiastic, and enthusiastic buying came in like a tide.
On the first day of listing in the previous life, Yahoo's opening stock price was US dollars, and the highest price in the session was US$43. The highest price in the session that day increased by 170% relative to the opening price.
Yahoo's opening price today is US dollars. If it can achieve the range of its previous life, the highest price can reach about US$86.
Of course, these are all things that happened in the past life, and many situations in this life have changed. The stock market is unpredictable, but the amazing performance of Yahoo's stock price today surprised everyone. The entire Nasdaq exchange demonstration hall was filled with joy and a festive holiday atmosphere.
Tang Xinyi looked at the screen in surprise, jumping up and down like a little girl with excitement, holding Li Xiaofan's arm, and kept urging Li Xiaofan:
"Dear, if the 2.96 million shares of Yahoo stock you control are priced at the current price, your worth has reached an astonishing more than 170 million U.S. dollars, which would be equivalent to an astonishing RMB 1.5 billion in mainland China! Let's meet OK, let’s get rid of it and dump some Yahoo stock?”
Li Xiaofan put his arm around Tang Xinyi's waist and said with a smile: "Dear, don't worry. It's not that I don't want to sell it, but according to the provisions of US law, the Yahoo stocks held by our three Singapore investment companies are all within the lock-up period. , I can’t throw it away yet!”
"Ah, is there still such a rule?" Tang Xinyi is a guinea pig and doesn't know much about investment matters.
Li Xiaofan explained:
"The U.S. stock market crashed in 1929, and a serious stock market crash occurred. The U.S. government learned from the experience after the 1929 stock market crash and established various laws and rules to protect public investors. Among them, the famous U.S. Regulations promulgated in 1933 Regulation No. 144 in the Securities Law stipulates that related parties such as major shareholders holding more than 5% of the shares of a listed company, senior management and directors of the company, and persons who obtain stocks from related parties, When selling stocks, you must Strict slow-moving and disclosure procedures are required. Such stocks are "restricted securities" and are strictly monitored. The 2.65 million shares of Yahoo held by Singapore Yifan Holdings Pte. Ltd. account for the total share capital of Yahoo. About 10.2% of . Therefore, these 2.65 million Yahoo shares are restricted stocks and cannot be sold for the time being. During the lock-up period, our 2.65 million Yahoo shares must be locked up for one year before we can reduce our holdings, and there will be strict penalties from the US Securities Regulatory Commission when we reduce our holdings. Preparation and disclosure process provisions..."
"Oh, that's it. Then dear, don't you have two other Singapore investment companies holding 310,000 shares of Yahoo stock on your behalf? These 310,000 shares only account for a small proportion of the total share capital of Yahoo, so you can always sell them. ?”
Li Xiaofan replied: "These 310,000 shares cannot be sold, they are also temporarily banned shares!"
"Ah, why? Didn't you just say that Regulation No. 144 in the U.S. Securities Act only has special regulations on reduction of stocks held by more than 5% of major shareholders or company executives and related parties. These 310,000 shares represent The stocks you hold don’t fall into this category, so why can’t you sell them?”
Li Xiaofan explained: “If it is not specified in Regulation 144 of the U.S. Securities Act, although the U.S. Securities and Exchange Commission does not have special mandatory regulations on the IPO lock-up period, it will generally be signed by the company to be listed and the underwriters. Lock-up period agreement is pending The targets of lock-up period restrictions are usually disclosed when submitting listing documents, including controlling shareholders, actual controllers, senior executives and some employees, and also include venture capital institutions such as Sequoia Capital, Singapore Yifan Holdings and Singapore Longyue and Longmeng. Early investors like investment companies…”
Li Xiaofan continued: “Although the U.S. Securities and Exchange Commission does not mandate a lock-up period for IPOs, signing a lock-up period agreement is already a very common practice in the U.S. stock market. Underwriters generally also require the signing of a lock-up period agreement, such as the lock-up period for original small shareholders. The period is generally agreed to be 90-180 days. Before Tiger Company went public, the lead underwriter, Morgan Stanley, had asked two Singapore investment companies, Longyue and Longmeng, to sign a lock-up period agreement. The agreed lock-in time was 90 days after the listing, which means three months later. , I won’t be able to sell these 310,000 shares of Yahoo until mid-July this year.”
"Oh, I probably understand, it's so complicated! My dear, you are still planning to ask me to go to San Francisco to help you manage Yifan Investment Company in the United States. I feel a little dizzy after hearing what you just said... "
"Haha, everyone is born with this knowledge. There is a process of familiarity and learning. You are so smart, I believe you will have no problem!"
"Hmph, you can coax me and give me candy!" Tang Xinyi said angrily.
The US stock market has a long trading time, from 9:30 am to pm Eastern Time from Monday to Friday. US stock trading is continuous, with no breaks in between, unlike the Chinese stock market, which takes breaks in between to let you take a nap or something. This may be a difference caused by the different cultures of the two countries.
At around 11:00 am, when Li Xiaofan and Tang Xinyi left the Nasdaq Exchange in Times Square, Yahoo's stock price had exceeded $65.
On the way to the luncheon, the topic of the two people's discussion was still the 2.96 million shares of Yahoo stock.
The central topic today was Li Xiaofan's net worth, and their mood fluctuated with the fluctuations of Yahoo's stock price.
"Dear, let me calculate it. When we left just now, Yahoo's stock price was US dollars. Multiply it by 2.96 million. My God, US$100 million! Xiaofan, in a short while, your net worth has increased by another 20 million US dollars! If US$100 million is converted into Singapore dollars, it is 350 million. Dear, you are already a rich man in Singapore!" Tang Xinyi exclaimed.
Li Xiaofan smiled and said, "I seem to be a little numb now. Numbers, these seem to be just a number game..."
"Dear, your Yahoo stocks have a one-year lock-up period. They won't plummet after that year, right?"
Li Xiaofan laughed after hearing this and said, "Unless the world war breaks out again during this period, generally speaking, this possibility is very small. I guess this wave of Internet stock boom will last for four or five years?"
Li Xiaofan remembered that in his previous life, under the leadership of Wall Street in the United States, the global Internet bubble did not burst until after 2000, so it's still early now.
...
At noon, Yahoo's thank-you banquet for successfully logging into the NASDAQ market was arranged at the Waldorf Astoria Hotel, the oldest and most prestigious hotel in New York.
The Waldorf Astoria Hotel, built in 1893, has witnessed many important events in the history of the United States and the world. For example, Li Hongzhang, the governor-general of Zhili and the minister of Beiyang of the Qing government at the end of the 19th century, took a ship to inspect European and American countries. The hotel he stayed in in New York was the Waldorf Astoria Hotel, becoming the first Chinese politician to stay in the hotel in history.
During the luncheon, the busiest person was Alice, the public relations director of Yahoo, whose phone kept ringing.
After the live broadcasts of famous TV news media such as CBS, NBC and ABC in the morning, Alice received many calls to make appointments to interview Yahoo founders Jerry Yang and Filo. These calls were basically from major news media organizations in the United States.
After Li Xiaofan and Tang Xinyi toasted Jerry Yang and his wife, before they returned to their seats, Alice came over and whispered in his ear: "Mr. Li, you became famous after your TV interview was broadcast on these major TV media in the United States this morning! I just received a call from the CCTV correspondent station in the United States. They specifically asked to interview you. Do you think it is convenient?"
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