Chapter 830 Directed capital increase and share expansion
At that time, the Masardino family wanted to prevent this transaction from happening, and they used many tricks to hinder it. Some people in the committee took advantage of this and delayed the application.
However, now that even BNP Paribas, a giant in the European financial industry, has directly stepped forward to help with the work as a strategic partner, the committee can no longer ignore it like this.
Therefore, this ordinary application that should have been approved at the beginning of last year was only approved at the end of the year.
This also means that the fact that the Future Holding Company has officially taken over Skoll Bank has been officially recognized by the government.
At this shareholders' meeting, Qiao Hongwei was nominated as the new chairman of Skoll Bank and was unanimously approved by shareholders.
As of the end of last year, Establishment Future Holdings held 44% of Skoll Bank's shares, making it the largest shareholder. 40% of which was acquired by Establishment Future as a whole from the original largest shareholder.
The other 4% is all the shares held by the Masardino family and two small shareholders closely related to them.
This part of the stock was sold to Erection Future by the Masardino family at a price lower than the market price, which can be regarded as compensation.
In short, the retaliatory action carried out by the future last year not only caused the Masardino family to lose a lot of money and made him feel bad, but also made a small profit and destroyed the Masardino family and its family.
The other two small shareholders were eliminated from the market, which can be said to be a great victory.
The actual second largest shareholder of Skoll Bank is Russia's Alexander family, which diversifies its holdings through several white-glove investment companies and funds, holding a total of 30% of the shares.
The third largest shareholder is the Smith family. The shares are mainly concentrated in the hands of the current bank general manager, Howard Smith. His grandson David also has a small share, so he is also a member of the board of directors.
The remaining 6% of the shares are scattered among four small shareholders. These shareholders were old shareholders when Skoll Bank was established and all have certain backgrounds.
They have a good relationship with Hawat and have never been involved in the operation and management of the bank. They only receive annual dividends. At most, they apply for some loans for their own companies, which makes them very transparent among Skoll Bank.
They will hardly cause any interference in the future management of Suijie Future, so Qiao Hongwei also enjoyed getting along with them during the shareholders' meeting.
There are three things a new official should do when he takes office.
After Qiao Hongwei became the chairman of Skoll Bank, his first proposal was to increase capital and expand shares in a targeted manner to increase the bank's own capital and prepare to establish overseas branches for business expansion.
As of the end of last year, Skoll Bank's total equity was approximately US$470 million.
The directional capital increase and share expansion plan submitted by Qiao Hongwei to the shareholders' meeting is very radical. It will issue an additional 50% of shares to Future Investment Company and BNP Paribas with a target price of US$500 million and a premium of about 5%.
Among them, Erection Future Company used US$400 million in cash to acquire 40% of the shares.
Based on the market value at the time of the transaction, BNP Paribas exchanged BNP Paribas shares worth US$100 million with 10% of Skoll Bank shares to complete the cross-shareholding work of the strategic partners.
In other words, through this additional issuance, the total equity of Skoll Bank has doubled (premium) to nearly one billion US dollars. The shares in the hands of existing shareholders will also shrink by half as a proportion of the bank's total equity. Premium
Part of it is setting up future compensation for shareholders.
This plan was made half a year ago, and with Hawat's lobbying, other shareholders basically agreed before the shareholders' meeting.
The work of persuading the Alexander family was entrusted by Qiao Hongwei to Wu Dawei.
When Wu Dawei was at Huanyu Trading Company, he met Ivan, the second generation core figure of the Alexander family, because of Su Bian's business, and the two had a close relationship.
Although Ivan holds the identity of an officer in the logistics department of the Russian Baltic Fleet, he is one of the few people in the Alexander family who is actually in power.
Ivan is the youngest son of the current patriarch of the Alexander family, and is responsible for the family's economic business in Europe. To say that his status in the family is higher than that of the third-generation core Andre who is the deputy mayor of the city of Buenos Aires.
A lot.
Wu Dawei did an excellent job.
In fact, it is very simple. The investment in Skoll Bank was just a back-up plan that the Alexander family laid out in Europe many years ago.
At present, this investment is neither very profitable nor has any important strategic significance, so it seems a bit useless.
The exchange conditions offered by Wu Dawei to the Alexander family were very sincere. After friendly consultations between the two parties, an agreement was finally reached.
Several white gloves controlled by the Alexander family will agree to the directional capital increase and share expansion proposal proposed by Skoll Bank, and will transfer their 20% stake in Skoll Bank to Sun Investment Company for a price of 100 million US dollars.
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As a result, the Alexander family's shareholding in Skoll Bank will be reduced to 10%.
After completing this capital increase and share expansion, the Alexander family's shareholding in Skoll Bank will be reduced to 5%, becoming a minority shareholder, and basically losing the management and control rights over Skoll Bank.
Down the nature of financial investment.
The Alexander family is not a "living gang", and all their efforts will be rewarded with higher returns.
In exchange, Skoll Bank will establish a branch in Moscow, the capital of Russia, within one year of completing the capital increase and share expansion. At the same time, it will establish two branches in Leningrad and Buenos Aires.
These three cities were selected based on the respective demands of both parties.
Moscow is the capital of Russia and the largest city in Russia. It is the center of Russian politics, economy, culture, finance and transportation. It is also the base of the Alexander family. It is inevitable that the Russian branch of Skoll Bank should be located here.
Leningrad is the second largest city in Russia after the capital Moscow. It will be changed back to its original name "St. Petersburg" in 1991.
The Alexander family has been operating here for many years. Through it, it can radiate to the Eastern European plains and then penetrate into the entire Europe.
Therefore, this is the key area for the development of the Alexander family, and its importance to the family is no less than that of the capital Moscow.
Cloth City is not very eye-catching among Russian cities, but the Far East, including Cloth City, is one of the escape routes the Alexander family has created for themselves.
There are many members of the Alexander family among officials and companies not only in Bush, but also in neighboring cities such as Khabarovsk and Vladivostok.
Even the Russian Pacific Fleet based in Vladivostok has been deeply penetrated by the Alexander family. Currently, there are several powerful officials in the fleet who are direct members or close associates of the Alexander family.
In fact, at the beginning, Ivan hoped that Skoll Bank could open a branch in Vladivostok, but this proposal was directly rejected by Wu Dawei.