Chapter 158 [The layout of the primary market (debt repayment 17/73)]
After the market closes in the afternoon.
An Yirou came to Lu Ming's office for a work report: "These are several new stocks that the company has participated in, among which Linglong Tire has been listed today."
Lu Ming took the list of materials.
Entering the second half of the year, Tiansheng Capital is also actively participating in offline institutions to build new businesses. After all, these are basically transactions that are guaranteed to make a profit and can easily double.
In China, the listing of new stocks is basically based on the stock market quotation. First, it will rise three to five times.
It is worth mentioning that new winning bids that participate online can be traded on the day of listing. Retail investors can basically only purchase online, and offline purchases are also possible, but the entry threshold is more than 10 million, and obviously not many retail investors can.
reach this threshold.
The current regulations for the shares held by institutions participating in the offline subscription of new shares are restricted to three months, that is, they cannot be traded three months before listing.
But having said that, the prices of new shares that institutions participate in offline subscriptions are all at the floor price, and the new shares that are listed often double and soar. Even if they are cut in half, it is still difficult for institutions to lose money on their floating profits.
There are expected to be 13 new stocks issued in July. The market value of Linglong Tire is close to 3 billion yuan, while the market value of the other 12 new stocks does not exceed 500 million yuan, and they still have to be divided up.
Tiansheng Capital participated in Linglong Tire, and Lu Ming was quite satisfied. He got about 20 million shares, and the subscription scale was about 260 million yuan. The cost of the issue price was 12.98 yuan. After the ban was lifted in three months, the price of about 30 yuan could not be paid.
question.
It can be doubled in three months, that's good.
In addition to Linglong Tire, which was listed today, Tiansheng Capital also participated in the three new stocks listed this month: Keda Guochuang, Haiqi Group, and Shiming Technology. The allocation ratio of these three targets is very small.
Much more.
But having said that, if the mosquito is small, it is still meat, and the plate is small, so it is not a big problem if these three tickets can be combined to earn hundreds of millions.
Tiansheng Capital will actively participate in the issuance of new shares every month in the future.
An Yirou said: "Ge Feng, the head of the PE investment department, submitted a report yesterday on the layout of the primary market. You highlighted the 21 companies you invested in. In addition to Ningde Times, YaoMingkang and Marui Medical
Except for the three companies, all layouts have been completed, and the current progress of these three companies is quite smooth."
These 21 unlisted companies will basically be super trend bull stocks in the next four years. They are progressing very smoothly because Lu Ming’s instructions to the PE team are to buy, buy, buy, spend money, and if they don’t give, they will be strong.
, if everyone refuses, then the offer must be too little, so give more.
Lu Ming asked Tiansheng Capital to become the major shareholder of these 21 companies. In addition to being generous and not short of money, more importantly, he promised not to interfere with the company's operating rights and proactively signed a concerted action agreement with the founder or management team.
In other words, vote with the management.
Don't be short of money, don't interfere in operations, just ignore the money and just let it go.
There is no startup company that doesn’t like this kind of investor dad in the primary market. Although Tiansheng Capital had a bad reputation last year and the “Anty War” left a bad impression on everyone, the fact that the real agreement is in front of us is enough to dispel
The concerns of the founding team.
Words may be deceptive, but an agreement written in black and white will not deceive. What is said is what it is.
Tiansheng Capital is indeed an angel investor that helps companies develop with full sincerity, providing them with support that is not limited to capital, accompanying their growth and sharing the remaining value.
It is worth mentioning that although it is done by the PE department, PE and VC are actually relatively blurred. Generally speaking, PE equity funds withdraw from the company after its IPO.
But it is obviously impossible for Lu Ming to let these 21 companies exit on the day they go public. These companies are basically super big stocks that can reach ten times, ten times or even dozens of times in fifteen years. His head was caught in the door.
Only then will they exit during the listing stage.
Becoming a major shareholder also means that there will be a sales restriction period of up to three years starting from the first trading day of listing, that is, the stock cannot be sold within three years.
At the same time, it also stipulates that starting from the day when new stocks are listed, 5% can be sold after one year, 10% can be sold after two years, and all of them can be sold after three years.
The lifting of the ban on some restricted stocks can be sold to avoid the bear market throughout 2018, while other restricted stocks, although they cannot be circulated in the secondary market during the restricted period, can be transferred through agreement transfer.
If the restricted shares comply with the relevant provisions of Article 3 of the "Interim Rules for the Agreement Transfer of Listed Companies' Tradable Shares" and the restricted shares have no other non-transferable share commitments, the share agreement transfer can be handled in accordance with the relevant requirements.
There is no doubt that Tiansheng Capital has naturally signed such an agreement with the companies it invests in. The restricted shares can be transferred through share agreement. This does not cause any loss to the company itself. It is only between the transferor and the transferee.
game.
However, the transferee of restricted shares still needs to comply with the original share restriction regulations or commitments.
In other words, if the person or institution that takes over the order wants to cash out, it cannot sell it in the secondary market. It can only sell it if it finds the next person who is willing to take over the order. If it cannot be found, then it will accept the flash crash of the stock price and bear the losses.
.
Lu Ming has clearly arranged all of this. When the time comes, the restricted stocks that cannot be sold in the secondary market will be taken over by other investment institutions. By the end of 2018, there will definitely be people who have been sold.
If the cheating institution loses money in staking and liquidates its position, then take over their meat-cutting plate and complete an epic big T operation.
After Lu Ming roughly read the first document of new materials, he picked up the second document of PE equity investment sent by An Yirou. It turned out to be the information of 18 unlisted companies that had already completed the investment layout.
Lu Ming closed the documents with satisfaction. Together with Pinduoduo and Mihayou, which he went to discuss in person last year, Tiansheng Capital has 20 venture capital companies in the primary market. Lu Ming said immediately:
"Very good, tell Ge Feng that in addition to advancing the investment in Ningde Times, Marui Medical and YaoMingkang as soon as possible, we will focus on promoting the investment in ByteDance, have a good talk with its founder, and strive to win D
Exclusive investment in a round of financing, even if you can’t get it, you have to lead the investment.”
Tiansheng Capital is currently poor and only has money. It is really not short of money. It is short of high-quality investment targets. There is no doubt that Bytedance is another giant in the domestic Internet industry with a market value of hundreds of billions of dollars. Naturally,
It is not allowed to be missed.
It’s not too late to get started now, the current valuation is less than 10 billion US dollars.
…
(Ps: The production team’s donkeys are also crazy. We strive to guarantee two and three updates every day... Let’s stop here today and continue tomorrow!)
