Chapter five hundred and fifty seventh tender offer
"Mr. Zhou, Zhang Yida wants to privatize Digital Domain... What do you think?"
Xie An reported to an old man in his sixties about the negotiations with Zhang Yida.
Zhou Yongming frowned, "Are the major shareholders not satisfied? Do we have to go private?"
Xie An nodded, "The desire for control is too strong, and the last time it is estimated to be controlled by multiple shareholding platforms."
Zhou Yongming shook his head and said angrily, "No, it's not like we can't survive. We have to accept his recruitment."
Xie An asked: "What do you mean?"
"Of course I rejected it and reintroduced new strategic investors."
Xie An sighed, "It's a pity. In fact, our business and Ruixiang are quite complementary.
Cooperation is more beneficial to both parties, and maybe Digital Domain can turn losses into profits."
Zhou Yongming smiled and shook his head, "But he wants to be alone and won't let us play.
Digital Domain is our business, not just about money, but also about years of hard work and hope."
Xie An also felt that the other party was too strong, and there was a huge disparity in strength between the two sides. It would be easy for him and others to lose even the scum.
"Hey, what if Zhang Yida agrees to strategically acquire 29.9% of the shares?"
This question... Zhou Yongming began to think deeply, thought about it, and said: "Then it is probably a fraud, so I can't agree."
Xie An also thinks this view is reasonable. Judging from Zhang Yida's various performances, he should not agree with this plan.
If you really agree, then there is something really wrong.
After two days of delay, the two sides held a final showdown on the phone.
"Mr. Xie, I thought about it and decided to give up investing in Digital Domain.
Of course, if you are willing to privatize it, I am still willing to take it over for HK$4 billion."
Xie An smiled and said, "I'm really sorry. After discussing with Mr. Zhou, I decided not to sell the company and plan to continue operating it because it carries..."
Xie An talked a lot about some bullshit ideals, and Zhang Yida knew that these were all polite words.
If we offer 8 billion, see if they sell it?
But why pay a high price for something that can be obtained at a lower price?
After hanging up the phone, Zhang Yida thought for a while, then called Lan Lan, Bao Fan, and Ding Siyao, and the four of them had a small meeting.
"Xie An refuses my friendship, so he can only use force."
Bao Fan knew that the other party was planning to attack by force, so he stopped trying to persuade him and began to help with suggestions.
"Currently, the total share capital of Digital Domain is 26 billion shares, and the current stock price is HK$0.127, of which Zhou Yongming and the company behind him hold 18.92% of the shares, and Xie An and the company behind him hold 9.23%. The two are acting in concert, with a total shareholding of 28.15%
.
Redmond, an investment company under Li Jiacheng, holds 9.23% of the shares, SoftBank China holds 8.57%, CITIC Group holds 8.57%, and Kingkey Group holds 6.34%...
The top ten shareholders hold a total of 81.23% of the shares, indicating relatively concentrated ownership.”
Bao Fan looked at Zhang Yida and asked: "Do you have a good relationship with any of these shareholders?
Anyway, I know that you have a good relationship with SoftBank and CITIC.
If you acquire all the shares of the third to tenth largest shareholders, your shareholding can exceed 53%, which can directly trigger an unconditional mandatory cash offer.
The next thing is simple, launch a comprehensive tender offer, privatize and delist."
Zhang Yida shook his head, "You are talking about an ideal state. What if Li Jiacheng, Xie An, Zhou Yongming and others are of the same mind?"
Bao Fan replied with a smile, "The shareholding may be between 30% and 50%, and what is triggered is a conditional cash mandatory offer.
Small shareholders can choose to accept or not accept the offer. If they accept it, and our equity exceeds 50%, it will naturally be converted into an unconditional cash offer, and the acquisition will be successful.
On the contrary, if our shareholding ratio does not exceed 50%, then the offer will be invalid and the privatization will fail.
Moreover, if you want to withdraw at that time, it will be difficult to withdraw, and you may suffer some losses.”
Zhang Yida nodded, "So the terms of this offer are very important. The price offered must be able to impress the small shareholders."
Ding Siyao interjected: "We can build a position in advance and push it up, and then we can smash the market and drive down the stock price."
Bao Fan shook his head, glanced at Zhang Yida, and said with a smile: "If our stockholder friends know that you initiated the tender offer, the stock price will not rise to the sky.
To "force" small shareholders to accept the offer, the stock price must be lowered below the offer price.
This requires setting up a good game, which requires a lot of time, energy and funds, and at the same time, you also have to bear a certain risk of loss."
Bao Fan advised Zhang Yida: "The best way is to transfer the equity of the top ten shareholders through an agreement, and then land it directly and safely after exceeding 50%.
It saves time and is less risky.”
Zhang Yida spread his hands and said, "With so many shareholders, how do you know that no one is with Zhou Yongming and others?
As soon as we came into contact with them, they turned around and sold us.
If Zhou Yongming, Xie An and others become defensive, it will be difficult to deal with them."
Bao Fan sighed, "That's true, people's hearts are separated from each other!"
"However, Digital Domain has been losing money for so many years. To be honest, it is not a good company.
Everyone is betting on the future. If you are willing to exchange Ruixiang's stocks, I will definitely be willing to exchange it for you."
Zhang Yida nodded, he didn't mind the equity acquisition.
After all, with a size of 205 billion US dollars, the valuation or market value will only increase more and more slowly.
"In that case, let's assign tasks."
Zhang Yida looked at Ding Siyao and said: "The hedge fund you manage will build a position first, and the action will be smaller. The stock price does not exceed 0.15 Hong Kong dollars. Buy as much as you can."
Ding Siyao nodded, "Okay, we will proceed with caution."
Zhang Yida looked at Lan Lan again and ordered: "You are responsible for interviewing Digital Domain's third to tenth largest shareholders, and you must try your best to get 30% of the shares."
"Okay, what about the price?" Lan Lan asked.
"The average closing price of the last 30 trading days shall not exceed 20%, and cash or Ruixiang stock subscription qualifications are acceptable."
Lan Lan nodded, "Then there is no problem on my side. I will discuss acquisitions as much as possible."
Zhang Yida looked at Bao Fan again, who looked at him, waiting for his task.
"Mr. Bao, you are so eloquent, and you have the talents of Zhang Yi and Su Qin, so why not just act together with Lan Lan."
Bao Fan nodded, "There is no problem on my side. I will inform you of the latest news in a timely manner."
After the task was arranged, Zhang Yida returned to the capital, and others began to act according to the plan.
The recent trading volume and turnover rate of Penny Stock Digital Kingdom have increased slightly, and the stock price has also increased by several points.
Some retail investors who were deeply trapped tried to sell some of their stocks and sold them quickly.
This was so serious that retail investors began to flee in large numbers.
Because they were afraid, those who came in last year had their waists cut off, and if they were dragged any further, the soil would be buried up to their necks.
Some people are afraid, and naturally some people are greedy.
Some old stock investors with keen sense of smell came one by one as if they smelled the smell of blood.