In the early morning, Zhang Yida directly called Son Zhengyi and showed off his loose Japanese.
"Kong Ni Qi Wa!"
Son was confused for a moment and replied "Good morning" in Japanese.
After he finished replying, he realized that this was Zhang Yida.
He doesn't speak Chinese, but only speaks Japanese, Korean and English.
He smiled and said in English: "Mr. Zhang, your Japanese is really good. Did you learn it recently?"
Zhang Yida smiled and said, "No, I only know a few words. I taught myself by watching Japanese movies."
"What movie?" Sun Zhengyi asked. He was a little interested in what kind of Japanese dramas Zhang Yida watched.
"Uh...what's it called? It seems to be "Female Investigator"."
Son Zhengyi laughed and did not continue the topic, but asked about Zhang Yida's purpose.
"That's right, BBPay is going to change its equity. Let me ask, do you have any intention of transferring the equity?"
Son Zhengyi frowned, what does this mean? Does he want to expel SoftBank?
"Mr. Zhang, although competition between Ruixiang, Ali, and Paypay is fierce, including Grab and Lazada in Southeast Asia, there is also competition between Paytm and BBPay in India.
However, SoftBank has always abided by its duty as an investor and did not impose any instructions or act in favor of any party."
Zhang Yida smiled and said: "I understand, I can trust Mr. Sun's character.
Let me ask, the main reason is that BBPay is currently directly controlled by Chinese capital. It is inconvenient to do business in India and there are various constraints.
We plan to penetrate the equity, half of which will be directly held by Ruixiang, and the other half by shareholders.
In addition, a part of the equity will be sold to Singer, so that BBPay will be the same as Ali and Ruixiang, a completely local company, except that it has foreign investment."
Sun Zhengyi understood immediately that he was going to go behind the scenes.
He felt that this was the right approach, as Ruixiang's previous methods were too crude.
However, it is not too late to wake up now. Generally speaking, the relationship between the two big countries is relatively peaceful.
"Then wouldn't it be over if all of our shareholders would allocate part of their equity and sell it to Singer?"
Zhang Yida then told Sun Zhengyi about Singer's ideas, including the acquisition of shares in the form of loans, the interest rate, and the loan period without concealing anything.
In fact, Zhang Yida arrived in a hurry and did not hold any board meetings.
Telling Singer that it was the board of directors' idea was just a pretense.
Once Singer has settled things down, it will be enough to add another board of directors. It's a very simple matter.
As soon as he heard that the shares were obtained in the form of loans, Son Zhengyi retreated.
He dared to borrow money from oil tycoons to make venture capital, so he naturally felt that the return on risk investment could cover the loan interest.
Now let him do it in reverse, this will definitely not work!
"Mr. Zhang, how about this? Don't you personally hold nearly 50% of the shares in Ruixiang? You can just sell 20% of the shares to Singer."
Zhang Yida secretly cursed the old fox, if he thought it was a good deal, he would have done this long ago and there would be no need to call you.
"The situation is a bit complicated. After Ruixiang lent Singer 20% of his shares, our shareholding dropped to 30%. If there are several rounds of financing in the future, our status as a major shareholder will be shaken."
Masayoshi Son thinks this reason is a bit far-fetched. Can’t you still participate in subsequent financing?
Moreover, after the equity change, your personal direct shareholding in BBPay will be more than 20%.
By selling your own shares, Ruixiang will retain its 50% shareholding, and its status as a major shareholder will not be shaken.
"Let's see, Ruixiang will contribute 10% here, and Mr. Zhang, your personal shareholding platform will contribute 10%. Doesn't this make up 20%?"
Or you can ask other shareholders if any of them are willing to withdraw?"
Son Zhengyi clings to BBPay's equity, which makes Zhang Yida a little confused.
But if you think about it carefully, it's not difficult to understand.
The Indian market is so big that the winner can’t take it all. Just like the Chinese market, there are either two or three giants left in one track.
Masayoshi Son wants to take advantage of the two major Internet markets of China and India.
Alas, being rich is such a willful thing.
Zhang Yida saw that he could not convince Sun Zhengyi, and the other party was indeed unwilling to sell shares.
We simply held a remote video conference in BBPay's office.
Even Zhang Yida is not particularly clear on how many investment institutions there are in Ruixiang.
Because in addition to accepting venture capital, many small shareholders will also be included in external equity mergers and acquisitions.
Although the shareholding ratio is very low, it does not even account for one point, not even 0.1 point.
But Ruixiang’s current valuation of US$220 billion is 0.1 points at US$220 million.
That is to say, Zoom video can support up to 500 people holding remote video conferences at the same time, otherwise it would really not be able to accommodate more than 100 shareholders.
Zhang Yida was sitting in his office, discussing matters related to the equity change of BBPay with more than a hundred institutional shareholders.
Singh did not attend the meeting out of avoidance of suspicion.
After explaining Singer's conditions clearly, Zhang Yida said calmly: "Anyway, the condition is this. Either Ruixiang will give 10%, and our shareholders who penetrate the equity will add another 10%, or the shareholders who directly hold the shares will take the initiative to sell.
, and the rest will be made up by Rui Xiang.”
"Does Singer have to be given 20% equity?" Shen Beipeng asked.
Zhang Yida nodded, "It seems that his shareholding is higher than Sharma's, and he is an extremely authentic Indian company."
"Hey, Mr. Zhang, it would be great if you were an American. Have you ever considered immigrating?" Robert said with a hint of ridicule.
"I have no idea of immigrating. China is Ruixiang's largest and most stable market. I love my motherland deeply."
Zhang Yida's answer was impeccable. There were more than 100 shareholders present and they were also very particular about answering questions. It was hard to say that the news would not leak out.
"Mr. Zhang, after the equity penetration, you directly hold more than 20% of the shares in BBPay. Why don't you invest a little more?"
Zhang Yida looked at the shareholder, a middle-aged man, and couldn't remember who he was.
She directly criticized him: "The trading of shares is free and fair, I don't need you to make the decision for me."
That person was probably a small shareholder who had recently joined Ruixiang from companies such as Lilith and Xiaohongshu that had been acquired. Zhang Yida scolded him. His face didn't look good and he felt very embarrassed, but he didn't say anything.
In the circle, only the strong have the right to speak. There is nothing wrong with what he just said, but it is just not his place to say it.
Other institutional investors have expressed their opinions. Most of them do not take the initiative to sell their shares and choose to pay proportionately.
Some small shareholders were eager to give it a try, but the total number did not amount to 2%, so they were directly rejected by Zhang Yida.
In the end, Zhang Yida's plan was followed: Ruixiang shared the task of selling 20% of the shares to all shareholders.
It is equivalent to a group of shareholders multiplying their shareholding ratio in Ruixiang by 0.8, which is each other's shareholding ratio in BBPay.
Only half of the equity is mixed with Ruixiang, a large shareholding platform, and the other half is directly held by each investment institution.
Doing so is equivalent to reducing the Chinese capital component of BBPay to 40%. For subsequent financing, Zhang Yida is also considering further reducing his holdings and maintaining it at around 30%.
As for foreign giants such as Temasek, Goldman Sachs, Morgan Stanley, UBS, and Abu Dhabi Investment Authority, they will directly appear on BBPay's shareholder list.
The luxurious lineup of more than 100 institutional investment shareholders is enough to remove the suspicion of Chinese capital from BBPay, and at the same time increase the weight of BBPay in the eyes of the Indian authorities.