Gao Yi had no class today, but Sun Dahai and Hu Cheng had been in the trading team since yesterday, so she simply didn't come down and stayed in the office area to process documents.
"What is Bill asking me to do? Isn't it because he wants to borrow money to buy back shares?" Sun Dahai thought as he quickly returned to his 33rd floor.
When Sun Dahai came up, Gao Yi was talking on the phone. When she saw Sun Dahai coming back, she gestured to him, indicating that it was Zhu Lihua's call.
Sun Dahai shook his head and let them continue talking. Zhu Lihua was very measured in her actions. If there was something urgent or important, she would contact him directly.
After a while, Gao Yi hung up the phone and reported the situation to Sun Dahai. It was Zhu Lihua who called to ventilate the situation in advance. Sun Dahai's casual guess turned out to be correct. As expected, it was Bill who wanted to borrow money from Sun Dahai for stock repurchase.
.
Bill is a poor man, and Sun Dahai dared to say that in front of him.
In fact, Sun Daizhang has been working very well with Bill and Paul Allen, another shareholder of Microsoft, for more than a year.
Sun Dahai personally holds 0.99% of Microsoft's shares, which he acquired on the day of Microsoft's IPO. Establishment Future Holdings holds 4.99% of Microsoft's shares, nearly half of which are shares sold by Paul over the past year.
Paul is one of the two founders of Microsoft. Initially, he and Bill held 40% or 60% of their shares. After their shares were diluted before Microsoft went public, their shareholdings became 15% and 45%.
It can be seen that the two people attach completely different importance to the company's shares, or the company's control.
However, Paul was diagnosed with cancer a few years ago, and fortunately it was still treatable. So he left the management of Microsoft and looked for other projects that interested him while treating his illness.
Paul had many hobbies and was a playboy. After his cancer was effectively treated, he decided not to return to Microsoft, but to start his own life again.
According to regulations, after the company goes public, the shares held by the founders will decrease year by year and enter the secondary market one after another. Bill is reluctant to give up management rights, but Paul does not care, so most of the founders' shares were released little by little by Paul.
Sun Dahai had a pre-existing agreement with Microsoft. He gave up his management rights and voting rights in exchange for establishing a future holding company for long-term financial investment in Microsoft.
Because of the shareholders' reluctance to sell, Sun Dahai did not ask the establishment to forcibly absorb Microsoft stocks in the secondary market in the future. He negotiated with Paul, one would sell and the other would buy, and gradually increased the share held by the establishment in the future to the exchange regulations.
The maximum value that must be raised is 4.99%.
Bill is different from Paul. He pays more attention to whether he can control Microsoft. Sun Dahai and Jia Zhu can wait for Bill's support in the future because Sun Dahai has authorized the voting rights of these shares to Bill.
Compared with those outside investment companies that would always point fingers at Bill's operations and management, he would definitely prefer Sun Dahai and Jia Zhu to join the company's board of directors in the future.
Bill was also selling his stocks, but the amount sold each time was so small that Sun Dahai didn't bother to pay attention. Unlike Paul, he wanted to invest in a project today, so he sold 30,000 to 50,000 shares, and wanted to buy a yacht tomorrow, and then
Sold 10,000 or 20,000 shares.
Sun Dahai said that Bill is a poor man, and there is evidence. Bill himself does not have much money. He lives on his salary from Microsoft and occasionally sells a few hundred shares of Microsoft stock to improve his living conditions.
His assets are all fictitious and are supported by the value of the Microsoft stocks in his hands. After this stock market crash, it is estimated that his net worth will shrink by one-third.
But everyone knows that these are imaginary numbers, so no one cares anymore. As long as Microsoft's development prospects remain unchanged, these imaginary numbers will soon rise back up.
Sun Dahai didn't stay in his office for long when Bill called. Sun Dahai looked at the time and found that it was late at night in the United States time. Bill probably calculated the time difference and waited until the morning of Xiangjiang time to call Sun Dahai.
On the phone.
The Americans didn't talk so much in convoluted words, and got down to the topic after a few simple greetings. Bill proposed that several major shareholders jointly invest and buy back shares based on 10% of their respective shareholdings to stabilize the stock price.
At the same time, the company will also carry out repurchase work according to this ratio. Sun Dahai is not worried about Microsoft. Bill's attitude towards corporate cash flow is the same as that of Sun Dahai. It is Han Xin's advice. The more the merrier.
At this point, there is even a tendency of obsessive-compulsive disorder.
The problem now is that Bill himself has no money, although he can mortgage part of his shares to the bank and get a loan.
But if the market changes and he is unable to sell the shares according to the planned plan, there will be a risk of losing his equity.
So Bill decided that part of the funds needed to repurchase his own stocks would be obtained through loans, and the other part would be borrowed through negotiation with Sun Dahai.
Compared with the vampires on Wall Street, Bill was more satisfied with Sun Dahai's performance. At least Sun Dahai had never thought about fighting for power within Microsoft.
Bill now holds 44.6% of Microsoft's shares. Microsoft has a total of 50 million shares. The price per share is more than 100 yuan (the price after the decline). He needs about 300 million US dollars in funds to complete the repurchase.
Therefore, Bill now proposes to Sun Dahai to borrow US$180 million to US$200 million to repurchase shares for one year, and he will solve the remaining funding gap by himself.
Of course, Bill couldn't just ask Sun Dahai to borrow money while holding the same head on two shoulders. He made an offer that Sun Dahai couldn't refuse.
According to the ratio of 10%, Bill needs to repurchase a total of 4.46% of the shares this time. This repurchase is not to concentrate equity, but to temporarily protect the stock price.
Therefore, when Microsoft's stock price leaves the bottom, most of the shares repurchased will be sold one after another and flow back to the secondary market.
Bill will sell the repurchased shares in batches at market prices within the next year. He promised that no more than 1% of the shares will be transferred to Sun Dahai's designated account through over-the-counter transactions.
This is a great thing!
When Sun Dahai heard this, he was really moved. For a company like Microsoft, Sun Dahai made up his mind not to interfere with its business and development trajectory. He could just be a small shareholder in it, sit on the sedan chair and enjoy the dividends.
It's not that Sun Dahai doesn't want to make more money. There are countless investment companies that are secretly paying attention to high-quality potential stocks like Microsoft. Among Wall Street bosses, as long as they are exposed to high-tech concepts, who doesn't know about Microsoft?
Sun Dahai believes that his current holding of nearly 6% of Microsoft's shares has come to an end. If he holds more shares, he is really afraid that it will affect the development trajectory of Microsoft.