Chapter 241 [Participate in the affairs of the hotel]
On Thursday, Lin Zuhui quickly contacted two banks and borrowed an additional short-term debt of 500 million (three months) for himself. Lin Zuhui's reason was simple. The shares he held had appreciated hugely, and his companies had basically escaped from the debt crisis.
The banker is not stupid, and Lin Zuhui is the banker's favorite, and he agreed to lend money on the same day.
Lin Zuhui immediately summoned Liang Zhenxun of New Era Real Estate and said: "New Era Real Estate has arranged a rights issue to raise 10% of the capital this month. I will subscribe for the full amount."
In the last round of New Era Real Estate's rights issue, New Era Real Estate raised 750 million from the rights issue, but it was used as a rights issue subsidiary; in the end, Chinese Real Estate received 1.15 billion in rights issue funds, and Cathay City received 350 million in rights issue funds (
The other half is provided by investors).
However, New Era Real Estate did not reap the benefits!
Of course, New Era Real Estate has made huge profits from its development sites, and the value of its subsidiary shares has skyrocketed, so its net assets are almost 10 billion, which is the moment in history when it is closest to market value.
Liang Zhenxun said quickly: "Okay, I'll go prepare! This wave of fundraising in the new era has reached 2.5 billion. Boss, is there any company that needs to raise funds through rights issues this month?"
Lin Zuhui nodded and said: "Cathay City will raise funds again!"
"Okay, I will arrange it after the New Era rights issue raises funds!"
At this time, Cathay City's market value has also climbed to 2 billion, so if it raises funds in this wave, it can raise 200 million. In the past few months, the funds raised through rights issues have already reached 550 million.
New Era Real Estate has one of the biggest advantages of raising funds through rights issues, that is, as the major shareholder, Lin Zuhui or New Era Real Estate has fully raised rights issues, which plays a very good leading role.
After Liang Zhenxun left, Chen Xiaofen also came to Lin Zuhui's office. Since Chen Xiaofen was promoted as a director of the company, it turns out that her direct boss Chen Bin has spent more energy on the development of the site - the construction of the real estate, the construction of the real estate, etc.; of course
, Chen Bin is still the general manager of the company, assisting Lin Zuhui in managing company-wide affairs.
Chen Xiaofen sat respectfully on the sofa, full of competence and dignity, and said: "Boss, we have sold out all the properties in Tsuen Wan."
Lin Zuhui nodded. The Tsuen Wan real estate project has a total of 600 residential units with a floor area of 360,000 square feet, accounting for nearly 15% of New Era Real Estate's sales this year, so he attaches great importance to it.
"This is a good thing! If we don't sell first, we will be passive in the same area. Dasheng Real Estate hasn't started sales yet?"
Chen Xiaofen said with a smile: "No, after all, our properties have just finished selling. In addition, our reputation is better than theirs, and the price is more than 30 yuan cheaper than theirs. Therefore, they will not dare to open the market for a while, at least they have to
Been waiting for two months!”
It’s not just for this reason, Ma Qingwei also just wants to make more money!
Then, Lin Zuhui asked about the sales of other properties and urged Chen Xiaofen to hurry up and sell properties. If he encounters a property with poor sales, he can reduce the price by 10% and vigorously promote it.
Chen Xiaofen's heart trembled, thinking that her boss had predicted something?
Recently, the group has been going crazy through rights issues to raise funds and has not made large-scale investments. Although the group said it was a predetermined strategy to reduce its debt holdings this year, people around Lin Zuhui still feel some sense of urgency from the boss.
"Okay, I will definitely organize the sales department to sell out those properties as soon as possible!"
"Hmm! You usually pay attention to rest, but you still have dark circles under your eyes. People see it and think I'm urging you to work overtime!" Lin Zuhui joked with a smile.
Chen Xiaofen's face turned red. She was indeed under some pressure recently, but of course she was embarrassed to say it out loud, but her boss didn't like hearing this from you.
"I will adjust it as soon as possible!"
"Well, go ahead and pay more attention to your health. You are my right-hand man, but I can't find anyone to replace you for a while!"
While Lin Zuhui urged his subordinates to work hard, he also played the emotional card.
This trick is naturally very effective, and Chen Xiaofen can't wait to show her loyalty on the spot!
...
The next day.
Lin Zuhui brought Lu Donglai and Colbert to the conference room of the hotel to attend the board meeting.
Cathay City has remained "humble" since joining the board of directors of Grand Hotel on May 4, but Lin Zuhui is actually sharpening his skills; he first hired British hotel management expert Colbert from abroad with a high salary, and Cathay City also established a
Always a professional hotel management team.
At this time, Cathay City was completely a hotel management company, and the company had many hotel-related talents.
This meeting was proposed by Lin Zuhui, the vice chairman of the board of directors of the big hotel. This made Michael Kadoorie Hotel feel a little scared. Is this person going to fight for control?
In the conference room, after everyone sat down, they all looked at Lin Zuhui.
Four months after joining the board of directors, Lin Zuhui has gained a lot of power in the board of directors, and is no longer inferior to the Kadoorie family. This is why the Kadoorie family opposed Lin Zuhui's entry into the board of directors, because they knew that Lin Zuhui was not a good person.
Michael said: "Mr. Lin, this time you proposed a board meeting without disclosing the proposal, but it made everyone unable to sleep well!" After saying that, he showed a faint smile, as if it was squeezed out.
Lin Zuhui said generously: "I was negligent! The reason for convening the board of directors this time is because I think the company needs to raise funds through a rights issue immediately to raise 700 million to 800 million for the company's development!"
Mi Gao's eyes jumped. Raising funds through rights issue means that the Kadoorie family will also have to contribute, otherwise the shares will be diluted again. Of course, with more than 100 million, the Kadoorie family can easily get it.
"What is the purpose of the funds?" Mi Gao asked calmly.
This is a good thing and he cannot directly object to it.
Lin Zuhui said with a smile: "The stock market is at its peak now, and there are many companies raising funds through rights issues. Our hotel has such a good reputation, so naturally we cannot lag behind. As for the use of funds, I think you know more than me, but I still have to put forward my own
My opinion is that we should first start to redeem all the remaining shares of the Peninsula Hotel in Manila. My reason is that although the domestic situation in the Philippines has been chaotic since the coup early last year, I believe that the situation in the Philippines will be improved within one or two years at most.
It’s getting better. Besides, if we redeem it now, the price is probably only 30 to 40%, and it doesn’t even cost that much. It’s very easy for us. Once the political situation is stable, we can recover the cost within one year.”
As a time traveler, Lin Zuhui knew that the political situation in the Philippines entered a stable transition stage from 1989 to 1991. Although the economy did not have a major outbreak, it was considered stable; and in 1993, the Philippine economy began to recover.
At this time, the Philippines is in dire straits. If we redeem the other half of the Peninsula Hotel shares, the price may be 70% cheaper.
The directors all nodded to Lin Zuhui's proposal. The rights issue is expected to raise funds to develop the company, and it is also a piece of cake to redeem the Peninsula Hotel shares in the Philippines. If there had not been a coup in the Philippines, the partners would not necessarily be willing to sell. Now is the opportunity.
After Michael thought about it for a moment, he said: "Okay, let's vote!"
The vote passed unanimously, and Michael did not stand in the way. He now hopes to peacefully coexist with Lin Zuhui, but the Kadoorie family is also looking for opportunities to buy back the shares of the hotel. As long as the equity reaches 34%, they will have a steady advantage over Lin Zuhui.
Next, everyone began to discuss the use of remaining funds. After all, 50 million was enough to repurchase the shares of Manila Hotel.
Lin Zuhui did not express much opinion because he knew that the time for the hotel to raise funds was almost mid-to-late September. When the 1987 stock market crash came, he would immediately change the use of the funds, that is, to repurchase the shares of Beverly Hills in Los Angeles.
Peninsula Hotels, shares of The Peninsula Hotels in New York.
Because the stock market crash will seriously affect the U.S. economy, the repurchase of equity will not be hindered or cost much.
With these achievements, he has established his authority in the Peninsula Hotel. Then he will plan the future development of the hotel with Michael. If he does not cooperate, he will be threatened to kick him out.
After the meeting, Michael invited Lin Zuhui to his office for a chat.
"Lin Sheng doesn't seem to be very interested in the hotel property business, but is very interested in the hotel business?"
Lin Zuhui said with a smile: "The name of 'Grand Hotel' already shows that this is a hotel management company. Mi Gao, I know that your family develops grand hotels based on the principle of 'nothing is too expensive but not too much', but my strategy is different."
, I am a 'noble person but also a good person', and I make full use of the stock market to develop the hotel business of big hotels. We do not need to pay interest to raise funds through rights issues, so why do you, the Kadoorie family, have to be so conservative?"
Michael immediately said: "When there are more hotels, the management will not be able to keep up. This will seriously damage the reputation of the Peninsula Hotel brand. Lin Sheng, the hotel company has been established for more than a hundred years (formerly known as the Hong Kong and Shanghai Hotel). We welcome you
The Li family will never allow accidents to happen."
Lin Zuhui said calmly: "If the development speed of the hotel is too slow, I will not hesitate to privatize the hotel. I hope you know that I have the strength. I like leveraged buyouts the most, and I believe the banks will support me."
"
Mi Gao was stunned for a moment, and then he was shocked when he saw that Lin Zuhui didn't seem to be threatening him!
At this time, because the hotel has a market value of 8 billion, the Kadoorie family's shareholding is still less than 15%, because it is too expensive, unaffordable, and not cost-effective.
Cathay Pacific City has a full 34% stake. If the Peninsula Hotel is privatized, it will have great advantages. It only needs to reach 51% first to declare victory.
He didn't dare to bet on whether Lin Zuhui could get 5 billion. If the bank strongly supported it, the Kadoorie family would lose the hotel forever.
"But we also have to consider the company's risks, right?" Mi Gao said in a retreat.
Lin Zuhui said: "Of course, there is no risk in raising funds from rights issues plus reasonable borrowings! My idea is that we will plan the global investment hotel business. The management of the hotel still belongs to the Kadoorie family. Our cooperation will be a little faster.
invest."
After all, Mi Gao is also a young man (less than fifty years old, but not married), and he admires Lin Zuhui's investment methods, so he relaxed.
"Okay, I hope we can cooperate and achieve win-win results!"
The two stood up and shook hands to make peace!
In fact, Lin Zuhui does not want to privatize the hotel, because the cost is too high. Even if it is privatized after the stock market crash, it will probably cost more than 4 billion; even if the bank provides a loan, he will have to spend 2 billion himself.
It’s not cost-effective. The hotel industry is not a profit-making industry. Lin Zuhui’s passion for big hotels is purely to increase his influence and reputation, plus some self-esteem.