Chapter 1231 Two pieces of news
Apple's director Adrian Piccia took the lead in opening fire on Jing Shufeng, and Shen Nanpeng quickly tried to smooth things over. He still remembered the fear of being dominated by Boss Jing!
Because he offended Boss Jing, at that time his, Hillhouse Capital, and Jinshajiang Investment were locked up in the Uber project, which made him so stressed that he wanted to hold a mixed party for male and female celebrities to release the pressure.
He feels secretly happy now, but he will still take care of the situation. Otherwise, if the news reaches Mr. Jing's ears, he may be dealt with by Mr. Jing.
Alas, he is considered the number one figure in Shanghai, and is a proper capital boss in the entertainment industry, but in front of bigger bosses, he has to be treated as a younger brother.
"Adrian, since Boss Jing has sent Mr. Jing to take charge of Uber, he must have made arrangements. Don't be impatient, be patient! We still have to respect Boss Jing's ideas."
Then he said to Jing Shufeng: "Mr. Jing, Adrian is a straightforward character. Don't take it to heart. How does Uber plan to deal with the stock price now? When you came to work for Uber, what gift package did you bring? The current stock price is indeed It’s so ugly. We are very anxious.”
In fact, he has a lot of contact with people in the American business community. It is nonsense to say that Americans are very straightforward and direct. Americans are also very sophisticated, right? When doing business, they still lick.
Chinese people have this impression: "Americans are very straightforward", which is flattered by the idiot media.
Adrian is definitely not the straightforward person he said. He just uses his reckless appearance to achieve his goals. Apple also holds a large amount of Uber stock! How can it not be anxious now?
Of course, Sequoia China also holds about 5% of Uber's shares, and the valuation of this share is now directly discounted by half. He is also very anxious in his heart.
Sequoia (China), as a private equity fund company, is said to have a partnership system, but in fact it is chaired by Shen Nanpeng. Their funds are not all funds from domestic wealthy families, but also a lot of funds from overseas.
Generally speaking, it is difficult to check the source of funds that operate in the form of funds. Many domestic venture capitals obtain funds from the United States as their white gloves. For example, the more famous Hillhouse Capital. Its founders Zhang Lei and Yale The funds move closer.
As a private equity fund, Sequoia (China) also has performance pressure. If the fund valuation drops for several consecutive quarters, it will have a great impact on the next fundraise and its reputation.
Jing Shufeng nodded slightly to Shen Nanpeng as a gesture of gratitude. Then he looked around the people at the conference table and said calmly: "Dear directors, in response to the current plummeting stock price of Uber, I have two suggestions.
First, our major shareholder Phoenix Group intends to increase its holdings. You should see an announcement in the next two days. Will this move increase the stock price?"
Several directors immediately responded positively to the news.
"This is acceptable."
"Boss Jing should have issued an announcement to increase his holdings long ago! Otherwise, the stock price would have dropped to half. This is normal."
"Mr. Jing, what else is there? Increasing holdings by major shareholders is a common method. Whether it can be effective depends on the market's reaction. We need some quick-acting methods to defeat the short sellers!"
Given Boss Jing’s grievances in the world, the stock price of Uber, which was listed on the Hong Kong Stock Exchange, plummeted this time. It is strange that no one is shorting.
Jing Shufeng said: "Second, I just explained to the directors my new ideas after taking charge of Uber. I have found a new fund and am willing to purchase our bonds. This fund will be used for Uber's internal reforms.
.”
Chief Financial Officer (CFO) Tian Qi said slightly excitedly: "Mr. Jing, how much is this fund?" As a financial officer, he is responsible for the company's funds.
The rest of the people are also concerned about the amount of the funds. With Uber's qualifications, it is not a big problem to issue bonds in domestic and overseas markets. But the question is how many people are willing to pay for it.
Especially with Uber's current stock price plummeting.
Jing Shufeng said: "This funding comes from Zhang Yanqi, the former chairman of Uber, and Magic Capital's private equity firm Blackbird Investment has prepared US$1 billion to purchase our bonds."
One billion dollars is a very nerve-wracking number.
"How many?"
"Fuck!"
"Mr. Jing is so generous!"
The solemn atmosphere in the conference room suddenly became relaxed at this moment. As for Jing Shufeng saying that he had found the funds, everyone pretended not to hear it. It must be the support of Boss Jing!
Do you really think that anyone can get this money? Do you really think that Boss Jing’s assets are the US$5 billion listed on Forbes and Hurun wealth lists?
Innocent!
Apple's director Adrian Piccia apologized to Jing Shufeng: "Mr. Jing, I'm sorry. I was too worried about the stock price just now and had a bad attitude. Please forgive me."
Jing Shufeng smiled and said: "It's all for work. I accept your apology." He said, facing the crowd: "The term of our current board of directors will expire in one year. In view of Zhang Yanqi's contribution to Uber, I
We will nominate Mr. Zhang as an independent director of Uber, and I hope to get everyone’s support!”
As soon as these words were said, the meeting room that was just full of joy suddenly looked a bit miserable.
Because Jing Shufeng is showing his power.
As the person in charge sent by the controlling shareholder Phoenix Group, Jing Shufeng, as the chairman, has the ability to remove discordant directors at the shareholders' meeting. It does not mean that if you hold shares in Uber, I will definitely let you go.
Being on the board of directors is two different things!
Shen Nanpeng, Adrian Piccia, Chief Operating Officer (COO) Gu Rui, Chief Financial Officer (CFO) Tian Qi, and Tencent's Liang Fengxia who just "baby-viewed" Jing Shufeng were all extremely cautious.
No one wants the first of the three fires of a new official to burn on them.
"That's it for today, adjourn the meeting!" Jing Shufeng put away the notebook in front of him, signed the meeting minutes handed over by Secretary Xin Gui, and left the large conference room on the 36th floor with his assistant Xiaoxia.
Shen Nanpeng left the Uber building and took a car back to Sequoia China's Magic City headquarters. He sat in the Mercedes-Benz and untied his tie: "Made, you are worthy of being someone who came from Mr. Jing's side. This method is in the same vein!"
Liang Fengxia, Tencent's vice president of legal affairs, called her bosses to report as soon as she finished the board meeting.
…
…
There is a media hall in the Uber headquarters building. After the board meeting on Monday morning, Secretary Xin Gui immediately held a media conference in the afternoon and announced two pieces of news to stabilize the stock price.
First: Repurchase by major shareholders. Second, US$1 billion of debt was discovered and large capital subscriptions were obtained.
More than a dozen media outlets took photos and spread the financial news along the Internet.
Uber's stock price immediately rose on Tuesday morning.
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This chapter has been completed!