Other companies will definitely not do what Lu Ming does when issuing convertible bonds, especially companies with poor operating conditions. They may even want to lower the minimum subscription unit to 1, because these companies borrow money from the market and may not necessarily need the money themselves.
Can raise money.
The nature of capital is that it despises the poor and loves the rich. The poorer you are and the more money you need, the less it will lend you money. The richer you are and the less money you need, the more likely it is to lend you money. Because the poor are worried about not being able to pay back, there is no need to worry about the rich at all.
Can't afford it.
Tiansheng Capital is not short of money. In a sense, this is an act of giving money to the market. The first convertible bond has basically completed the conversion, bringing the total share capital of Tiansheng Holdings to more than 80 million shares.
The extra 2 million shares will definitely be repurchased through the secondary market in the end, so that the total share capital will eventually be maintained at 80 million shares.
Lu Ming made arrangements for the company's second convertible bond, and then began to formulate the company's repurchase plan, that is, the extra 2 million shares would be repurchased and canceled with the company's money.
"26342..."
Lu Ming opened the market software and looked at the current stock price of Tiansheng Holdings. After thinking for a moment, he typed out a repurchase price on the document: 25,500 yuan.
"The repurchase price per share is no less than 25,500, that's it!" Lu Ming nodded and thought to himself.
The decision was made on the spot, and of course it had to be decided by the board of directors. However, Lu Ming had already decided, and the board of directors' decision was just a matter of process, with everyone discussing it, and the final decision was made by the ultimate BOSS.
The number of shares repurchased in this repurchase plan is 2.42 million shares. It is expected that the repurchase funds will use about 75 billion. In fact, Tiansheng Capital invested about 45 billion, and the other 30 billion was offset by the issuance of convertible bonds.
.
In other words, this repurchase is equivalent to a profit of 45 billion yuan to all shareholders of Tiansheng Holdings.
Lu Ming organized the documents, then printed out the paper documents through the printer, and held a board meeting that afternoon.
At the meeting, decisions were made on two proposals put forward by Lu Ming. One was the new issuance of Tiansheng Zhuan 2, and the other was the formulation of a 75 billion repurchase plan.
Both proposals passed the resolution of the board of directors without any suspense. After the market closed that day, at around 17:30 p.m., Tiansheng Capital officially issued an announcement disclosing the company’s proposed 75 billion fund repurchase plan, repurchasing 2.42 million shares, accounting for a total of 2.42 million shares.
The share capital ratio is 2.93%, and the repurchase price is not less than 25,500 yuan per share.
The issuance of Tianshengzhuan 2 has not been announced to the market for the time being, and only the repurchase plan has been disclosed.
As soon as the news came out, the market received various interpretations and attention that day. On the one hand, the outside world was amazed at the generosity of Tiansheng Capital. The repurchase scale of 75 billion can be regarded as an astronomical figure.
On the other hand, the market's interpretation of Tiansheng Capital's buyback plan is bearish on the market, believing that Tiansheng Holdings' buyback at this time is suspected of supporting the market. The market has returned to the era of below 3,000 points, from a high of 3,587
Hitting below 2900 points, the cumulative decline during this period exceeded 20%, and the market has officially entered the technical bear market stage.
The market's interpretation is that Tiansheng Capital's buyback plan is certainly not a bad thing for the company itself, but it may be a bearish omen for the market.
…
Less than half an hour after Tiansheng Capital disclosed the repurchase plan, Lao Yang saw the news. After reading the content, he sent the announcement link to the group and said in his voice: "Tiansheng's outflow is good, and it is a major good. Now you can
It is 99% certain that Tiansheng Holdings is currently in the bottom range, and the stock price of 25,500 yuan has super strong support."
A group of friends read the repurchase announcement in the link and chatted in the group: "The repurchase of Tiansheng Capital is very cool. Other listed companies have repurchase plans, and the written statements are no higher than a certain price. Brother Yi
Better yet, if you go the other way, the repurchase price will be no less than 25,500 yuan."
Lao Yang laughed and said: "So 25,500 yuan has super strong support. If it falls to this price, Tiansheng Capital will pay for the repurchase, and it is a super large-scale fund of 75 billion. It is basically telling the market that 25,500 yuan has 750 yuan."
Hundreds of millions of funds are waiting to be picked up, and Tiansheng Holdings' market outlook will rise even before the market opens. The possibility of falling below 2.55 is not said to be zero, but it is certainly extremely low."
Group friend: "Brother Yi is really arrogant and inhumane. The scale of this repurchase has also set a repurchase record for Big A, right?"
Group friend: "Brother Yi is so poor that all he has left is money."
Group friend: "I have to say that Brother Yi is still very conscientious. If the price is not higher than 2.55, it will be over. If the buyback is not completed, the stock price will basically not rise above 25,500 yuan."
Group friend: "He is indeed a very conscientious boss of a listed company. He pays dividends and buys back, and he makes super generous purchases. I wonder if Big A really can't find another boss of a listed company who is so conscientious."
Group friends: “I don’t know how long it will take for the market to rise.”
Lao Yang: "It probably depends on when the repurchase plan is completed, but in any case, this is good news for Tiansheng Holdings. It greatly eliminates the risk of decline and makes the market outlook more certain. The market outlook will definitely be bullish."
.”
Group friend: "I have a question. Wouldn't it be difficult for Tiansheng Holdings to complete the repurchase plan? As we all know, when the probability of a bullish market outlook is extremely high, people will be stupid enough to sell stocks easily.
?”
Lao Yang: "Because of this, I judge that it will be difficult for Tiansheng Holdings to rise in a short period of time. It may be that the super main force is not willing to pull up, nor does it want to fall too deep, so it came up with such a buyback plan.
The stock price cannot rise or fall. As for when it will rise, only the super main force knows, but no matter what, we just hold it and wait for it to rise."
…
It is indeed difficult for holders to hand over their chips when Lu Ming devised such a repurchase plan, but Tiansheng Capital is not in a hurry. The repurchase time can be one month, a quarter or even half a year, no problem.
During this period, there will always be funds coming in and out, and people will always have three emergencies. Some holders will face capital turnover due to other problems and have to cash out and leave.
At the opening of the next day, Tiansheng Holdings did not see a sharp rise, as if the 75 billion buyback plan had not happened. Ordinary retail investors said they could not understand that such a huge positive stock price did not respond. This type of investors obviously
I didn't understand it.
Those who understand clearly, such as Lao Yang, are not surprised by Tiansheng Holdings's satisfactory and volatile performance today. On the contrary, this is the market reaction that is in line with expectations.
No one is willing to sell, and the holders want to wait for others to hand over their chips, so of course they will not be able to fall.
At the same time, they are waiting for funds from Tiansheng Capital to enter the market for repurchases. Of course, if the repurchase funds are not released, the stock price will not rise, because no one is willing to spend money to increase the stock price. If the stock price rises, Tiansheng Capital will not repurchase it.
We want Tiansheng Capital to complete the repurchase, which means that the number of listed and circulating shares will decrease, and the total share capital will decrease, which will make the stocks in our hands more valuable, and also reduce the market selling pressure.
But the problem is that there are too many smart people, and they all want Tiansheng Capital's repurchase funds to complete the repurchase plan, but they don't want to hand over their chips. Of course, the stock price is stuck here, neither rising nor falling.
When everyone is smart, in a sense, there are no smart people. Only fools can reflect smart people. Once smart people appear, it means that there must be fools who bring out the intelligence of others.
In addition, there is another important reason that cannot be ignored, that is, the high stock price of Tiansheng Holdings has shut out hundreds of millions of retail investors, thereby eliminating the influence of this group of warriors who chase the rise and kill the fall on the stock price.
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If the current stock price of Tiansheng Holdings is 25 yuan per share, coupled with the company's profitability, fundamentals and the reputation influence of Brother Yi, such a big bright-brand benefit is revealed, thousands of retail investors may not be able to point it out.
During the collective bidding process, I was given a one-word ticket.
The power of retail investors cannot be ignored. Once they are guided to form a joint force and become brave, even the super main force cannot resist them. Although they have small funds, they cannot resist the large number of people.
Some time ago, Zijing Mining, a super large-cap stock with a market value of 100 billion, although its market share was extremely large, its stock price was less than 4 yuan when it was low. It was stunned that these warriors pushed it out of the nine consecutive market. This incident is still vivid in my mind.
