Time flies, and three weeks have passed in the blink of an eye.
Monday, November 20th.
Lin Zuhui seemed to be in a very good mood in his office at the China Real Estate Center. Hengjin Investment had withdrawn 5 billion in funds from Japanese securities and was continuing to withdraw funds.
At this time, the Nikkei Index has reached a high point, and judging from the trend, it will immediately rise all the way to the high point, which makes Lin Zuhui's gains much higher than expected.
The move-like withdrawal of Hengjin Investment from Ant did not cause much commotion. After all, the total market value of the Japanese stock market is now larger than that of the United States, which is almost 30 trillion Hong Kong dollars, accounting for more than 40% of the global stock market value.
The total market capitalization of the Hong Kong stock market is only over HK$600 billion. The gap is really huge.
Lin Zuhui has asked Hengjin Investment to withdraw no less than 8 billion in funds in the next 40 days; because, through withdrawals during this period, Hengjin Investment has mastered the sensitivity of the market.
As for the remaining funds, keep them in January and then withdraw them quickly.
Now that he has money in his hands, Lin Zuhui naturally has to start planning how to spend it. He first paid off the 25% stake in Modern Containers and the 20% stake in Asia Television, totaling 3.1 billion.
The 25% stake in Modern Containers is a medium- to long-term investment and is used as a bargaining chip to bring together Modern Containers and Sea-Land Containers. It will not be sold in the short term.
After a while, Liang Botao and Liang Zhenxun came to Lin Zuhui's office hand in hand.
Although Liang Botao was not an employee of Lin Zuhui, Lin Zuhui knew that after 1998, he would come to work in his family office. Because he knew that Peregrine would go bankrupt during the financial crisis in 1998 because it was too aggressive and made unreliable business with an Indonesian company.
The mortgage loan was US$265 million. As a result, when the financial crisis hit, Peregrine, including other businesses, suffered a total loss of HK$4 billion.
What Lin Zuhui was interested in was Liang Botao's strength in the investment banking field, and he could be asked to take charge of the Asia-Pacific investment business in his family office in the future.
In addition to Liang Botao, Lin Zuhui will also pursue Yuan Tianfan, the current chairman of the Stock Exchange, in the past two years. In his previous life, Yuan Tianfan claimed that he would not work for families other than the Li family. Lin Zuhui wants to see if he is like this!
Liang Botao took out a plan and gave it to Lin Zuhui, and he read it carefully.
This is about the plan to privatize Chinese Real Estate and Lin Zuhui's plan to reasonably increase his shareholding.
At this time, the market value of New Era Group was 16.1 billion (980 million shares) and Chinese Real Estate was 9.5 billion (380 million shares), both of which were significantly lower than the net asset value; the market value of New Era Group ranked fourth among the top ten real estate companies, and the market value of Chinese Real Estate was
Ranked eighth.
The wave of bargain hunting in real estate was originally good news, but it was completely ruined by high debt, resulting in poor stock performance of the two companies.
But it doesn't matter, the market value is much lower than the net asset value, which makes it easier for him to privatize.
After reading the plan, Lin Zuhui nodded and said: "The value of every two New Era Group shares is 32.8 yuan, in exchange for one share of Chinese Land worth 25 yuan. If the shareholders of Chinese Land agree, they can get 8 yuan per share.
The book profit is a premium of more than 20%. Therefore, this is considered a well-intentioned privatization!"
Liang Botao nodded and said: "Not only that, if investors are optimistic about New Era Group, they can still continue to hold it. The stock assets in his hands still include those assets!"
Lin Zuhui added: "But logically, as the major shareholders, we cannot enter this shareholders' meeting. Who should persuade those small shareholders?"
The privatization shareholders' meeting is for small shareholders to discuss whether to accept it. If more than 90% of the votes are cast, excluding major shareholders, it will be declared successful. If Lin Zuhui was at the meeting and made some confusing remarks, everyone would not surrender immediately!
Liang Botao immediately said: "Standard Chartered Bank is the most suitable. They are shareholders of Huazhi, holding about 3% of the shares. And they are a bank, so they are more authoritative."
Lin Zuhui's eyes lit up and he immediately said: "Okay, choose Standard Chartered Bank. You and I will visit their senior class tomorrow."
Liang Botao nodded. He was the financial consultant this time, so he naturally had to participate in this.
Lin Zuhui then asked: "If the privatization is successful, to what extent will my shares be diluted?"
Liang Botao naturally knew that Lin Zuhui attached great importance to his shareholding ratio. After all, the purpose of privatizing Huazhi was to allow the major shareholder, the Lin family, to hold greater equity and pay more dividends in the future.
"New Era Group holds 55% of Chinese Real Estate. The number of Huazhi shares in this privatization is 171 million shares, and 342 million New Era Group new shares need to be issued. Therefore, based on your original holding of 485 million shares, the privatization is successful.
After that, you accounted for 36.7% of New Era Group."
Lin Zuhui immediately said: "Not enough! I have to increase my stock holdings!"
Liang Botao said: "The cost of increasing stock holdings in the secondary market is too high. It is better to issue 'warrants' to you now!"
Lin Zuhui realized this and immediately said: "Okay, first arrange the issuance of equity certificates in exchange for my 2 billion in cash!"
Liang Botao thought for a while and then said: "If nothing unexpected happens, we can almost increase our holdings to more than 45%!"
Lin Zuhui nodded, this shareholding ratio is acceptable!
The reason why he dares to increase his shareholdings unscrupulously is very simple. He is not afraid of touching the line of comprehensive acquisition at this time, because he only needs to offer the highest price in the past six months to initiate a comprehensive acquisition; and in the past six months, New Era Group's
The value of stocks is much lower than the net asset value, so there is no temptation.
If it fails, there will naturally be no need to spend more than 10 billion in cash.
Several people discussed the countermeasures in detail and quickly decided to take action immediately, trying to pass the application for issuance of "warrants" this week and announce it to the public.
Issuing warrants is a good thing. After all, companies can raise funds, and New Era Group currently has high debts and needs to raise funds; therefore, the Stock Exchange will not refuse.
This chapter is not over yet, please click on the next page to continue reading! Issuing warrants is beneficial to Lin Zuhui. For example, the current stock price is 16.4 yuan per share. He can still buy shares of New Era Group at this price in the next few months.
.
If the stock price of New Era Group rises to 18 yuan, he can make a net profit of 1.6 yuan per share!
It's fair, because it may also fall! If the major shareholders want not to lose money, they can only work hard to develop the company and let the company's stock price rise.
Therefore, stock investors are not averse to warrants.
.......
On Wednesday, the Stock Exchange approved New Era Group's application to issue warrants to major shareholders to raise funds. On the same day, New Era Group held a press conference.
At the same time, Lin Zuhui and Liang Botao came to the Standard Chartered Bank Building in Central District and met with Standard Chartered Bank Chief Executive Lynes.
Standard Chartered Bank has always been headquartered in the UK, but its business is mainly in Hong Kong. A few years ago, it was hostilely acquired by the British bank Lloyds Bank. The charter king purchased a large number of Standard Chartered Bank shares, thwarting Lloyds Bank's conspiracy.
However, the chartered ship king is also ambitious and wants to take over Standard Chartered Bank; but Standard Chartered Bank is headquartered in the UK after all, and the chartered ship king cannot enter the core of power, so he can only sell his shares in the end.
"Mr. Lin, Mr. Liang, if you two come together, you must have a lot of business, right?" Lines said humorously.
Lin Zuhui responded with a smile: "If I borrow 2 billion in cash from Standard Chartered, is this business big enough?"
Lawns was stunned, thinking that you are the king of debts, and Standard Chartered Bank cannot withstand your troubles.
"Mr. Lin is joking! Of course, if there is collateral, we can also repay part of the 2 billion loan!" Lines could only say this. We can't do no business, but 2 billion is too much.
Liang Botao was very familiar with Ryans and immediately said: "Do you still think Lin Sheng is really in debt crisis?"
Lines immediately shook his head and said: "No, Mr. Lin has invested in so many projects this year. It seems that he is right to buy the bottom! As bankers, we naturally can't see clearly. It's just a 2 billion loan. It is indeed best to combine
loan!"
Lin Zuhui immediately said: "We are not here to borrow money, Mr. Lines, but we are here to discuss the privatization of Chinese real estate with you!"
Lines immediately said: "That's it! How are you going to privatize it?"
Liang Botao immediately stated the plan, and Ryans began to think about it. After a long time, he said: "After privatizing Chinese Real Estate, your company's debt will probably exceed 15 billion!"
Lin Zuhui nodded and said: "Don't worry, we have formulated a debt reduction strategy. New Era Group has just raised 2 billion, and there is still 1.5 billion in cash on the account. As for the follow-up, we can still use various channels to reduce debt.
.”
Lyons immediately asked: "New Era Group raised 2 billion?" There was no reason for him not to know about such big news in Hong Kong.
Liang Botao replied: "The warrants issued have just been approved by the Stock Exchange today to raise 2 billion from major shareholders!"
Ryans looked at Lin Zuhui with some surprise. This man's wealth was quite hidden!
After some discussion, Lines quickly agreed to Huazhi's privatization plan. After all, there were profits on paper, and the merger of the two companies would be more conducive to the interests of shareholders.
Of course, the most important thing is that he takes the lead in convincing those small shareholders.
.......
New Era Group raised 2 billion in funds from its major shareholders. After media reports, it caused a great response in Hong Kong.
However, this public opinion has not subsided. New Era Group has officially issued a comprehensive acquisition invitation to small shareholders: two New Era Group shares will be exchanged for one Chinese Land stock.
For a time, public opinions abounded!
Many analysts pointed out that this plan is indeed very attractive to small shareholders. However, the intention of the major shareholders of New Era Group to subscribe for "such as share certificates" in advance is also obvious, that is, after being diluted, they will increase their holdings of New Era Group shares.
Hit the full acquisition line.
Standard Chartered Bank specifically stated in the newspaper: As a shareholder of Chinese Land, we are very optimistic about this share swap privatization...
In terms of public opinion, it is obviously favorable to this privatization, but the real determination of success depends on the vote of the shareholders' meeting.
In order for everything to go smoothly, Lin Zuhui specially visited several companies and individuals with large shareholdings to win everyone's support.
His reason is simple: privatizing Chinese Real Estate can better solve the debt problems of the two companies and ensure that the rights of shareholders are not infringed.
The effect is very good, short-term investment, some 20% profit on the book; long-term investment, the merger of the two companies is conducive to development.
........
Tuesday, November 28th.
On that day, the shareholders' meeting of Chinese Land was officially held. New Era Group, as a major shareholder, recused itself. However, it was indeed Gao Yi, general manager of Chinese Land, who presided over the meeting and naturally gave a speech in advance.
Several important shareholders and directors all took turns to give speeches.
However, some shareholders also asked: "What if the New Era Group shares in our hands depreciate after the share exchange?"
Gao Yi immediately replied: "This is good news, how could it fall for no reason?"
Directors such as Gao Yi have given important answers to questions such as this.
Entering the voting environment, Gao Yi was also a little nervous. Although Huazhi was privatized this time, the boss said that Huazhi will still be a real estate company in the new era and run independently. Therefore, Gao Yi himself does not need to consider his own future.
The problem.
In the end, 95% of shareholders agreed to the privatization, and thunderous applause broke out in the conference room.
Next, it’s time to officially go through the process.
...
The smooth privatization of Chinese Real Estate was not due to Lin Zuhui's clever methods, but to his good-faith acquisition, so he did not learn from the messy privatization caused by Liu's privatization in his previous life.
After Chinese Land was privatized, the total share capital of New Era Group became 1.322 billion shares, with Lin Zuhui holding 36.6% of the shares. He also has a large number of warrants that can be exchanged for actual shares within three months.
The market value of New Era Group soared to 21.6 billion instantly, ranking first among the top ten real estate companies.
Of course, the original total market value of the two companies was nearly 26 billion, and the total market value of the Hong Kong stock market was equivalent to an evaporation of 4.4 billion.
After privatizing Chinese Real Estate, Lin Zuhui turned his attention to Cathay City Hotel and planned to find an opportunity to privatize it next year.
The market value of Cathay City has been unable to rise, and is currently less than 2 billion, because it has not paid dividends for a long time, its debt is too high, and the hotels it invests in are long-term investments.
Therefore, Lin Zuhui plans to privatize the company through two options at the same time: stock exchange and cash.
It is still a good-faith privatization. Short-term investors can sell the shares at a premium of 20%, and long-term investors can choose to exchange them for New Era Group shares.
After the privatization of Cathay City Hotel, New Era Group is equivalent to having only two listed companies, one is New Era Group and the other is Fuli Real Estate (American Real Estate Investment).
As for the original China Entertainment, it was already in Lin Zuhui’s personal hands.
The reason why Lin Zuhui privatized real estate and hotels was because the dividends of these two companies were about to explode, and the debts were too high.