Li Jianhui, who has a huge amount of cash in his hands, was restless after the London gold market left the warning line. Wheelock Land announced that it would invest HK$1.5 billion to build Wheelock Plaza in Haojiang New Town.
Within a few days, Xinjian Investment Company announced and reported to the Xiangjiang Stock Exchange that it had become the major shareholder of its company with 8.6% of the shares of Xiangjiang Electric.
As soon as the news came out, Xiangjiang stock investors seemed to smell the smell of bloody sharks and began to frantically buy shares of Xiangjiang Electric.
They are waiting for the storm to come. They believe that Li Jianhui will never be willing to just be a director without rights if he acquires shares in the Heung Kong Electric Company.
This is another war launched by Chinese capital against British-owned enterprises in Hong Kong after Wharf and Wheelock. This battle over the Hong Kong Electric Lighting Company is unlikely to end in a short time.
At this time, in the office of the chairman of the board of directors of Xiangjiang Electric Lighting Company, Colon Standard Chartered was anxious after receiving the news. The electric power company was no different from others and had a very large initial investment. Although the company's market value was as high as more than 5.3 billion Hong Kong dollars, the shares held by the Standard Chartered family were
It’s just 34.09%.
This was definitely an insurance figure in the past, but the battle between Wharf and Wheelock made them understand that this data is not safe at all. As long as these Chinese capitals do not touch the red line of compulsory acquisition, they will
Dare to spend huge sums of money to rob their company.
Some heads of British-funded consortiums are already looking for the Hong Kong government, hoping to adjust the mandatory acquisition from 50% to 35% and form legal provisions to maintain the control of their capital over their groups and at the same time prevent Chinese-funded groups from controlling them.
hostile takeover.
The current Takeover Code does not form a law, but is a mutual agreement between the stock exchange and the listed company. Once someone breaches the contract, the company will at most be delisted and will not face penalties from the government.
However, due to the huge impact, no one has violated this agreement since the establishment of the agreement in 1975. For example, the chartering king, and even Li Jianhui, their shareholdings will not exceed this agreement, but will only take 49.9% of the shares.
How much money Li Jianhui has in his hands has always been a mystery in Hong Kong. In the original battle for Wheelock Group, everyone thought that he would lose control due to funding problems, so he quietly spent one billion Hong Kong dollars.
This time, without any rumors, it became the second largest shareholder of Xiangjiang Electric, second only to the Standard Chartered family.
With an 8.6% stake, the current price of Heung Kong Electric in the stock market is more than HK$460 million.
In addition, Wheelock Group has announced that it will raise funds to issue an additional HK$1 billion in shares, and Xinjian Investment Company, which is wholly controlled by Li Jianhui, has announced that it will increase its holdings proportionately, which is another nearly HK$500 million.
The citizens of Xiangjiang are all wondering whether the richest Chinese man in Xiangjiang should be replaced. The chartering king’s assets are probably not as good as those of Li Jianhui.
Due to the relatively high market value of Xiangjiang Electric and the large investment, it is difficult for shareholders to pay dividends in the short term. Therefore, except for the Standard Chartered family, which has a large number of shares, other shares are very scattered. In addition to Li Jianhui, the second largest shareholder, the third largest shareholder is
Standard Chartered Bank holds 5.4% of the shares.
Standard Chartered Bank was formed by the merger of two banks from the two former British colonies. Its full name is Standard Chartered Bank. It was named by the British royal family. It was not founded by the Standard Chartered family, nor is it an industry of the Standard Chartered family.
In addition to these three major shareholders, the other shares of Xiangjiang Electric are scattered in the hands of securities investment institutions and retail investors. These do not reach 5%, so there is no need to report it to the Xiangjiang Exchange. No one knows who holds the shares.
If Colon Standard Chartered wants to hold on to his family's century-old business, he can only acquire part of the shares in the stock market, and this requires a huge amount of capital.
With insufficient funds of his own, he could only contact the two richest men in Hong Kong, HSBC Shen Bi and Standard Chartered Pixar Wilt in Hong Kong.
Shen Bi, who had long regarded Li Jianhui as HSBC's archenemy, said directly that as long as Coron Standard Chartered had collateral, HSBC would provide full financial support.
Standard Chartered is also willing to lend money to it and promises to hold its shares for a long time.
With confidence, Kelen and Standard Chartered held a press conference, stating that Xiangjiang Electric Lighting was the ancestral business of the Standard Chartered family and that he was confident and determined to defend his own business.
At the same time, he said that he was not John Madden, nor was he Sin Chew Khoo Tak Pak. Li Jianhui could win Wheelock, but there was no possibility of winning Heung Kong Electric.
At the press conference, Column Standard Chartered advised Li Jianhui not to hold unrealistic ideas and to give up early is the right way.
This press conference spread throughout Hong Kong at an extremely fast speed, and countless people were waiting for the show to unfold. They believed that Li Jianhui, the proud man of heaven, would never give in.
In their view, the press conference of Column Standard Chartered was more like a provocation, just to make Li Jianhui dive in. Not only would he lose control of Xiangjiang Electric, but his funds would also be tightly trapped in it.
At Wheelock Building, Chen Yulian said angrily: "Jianhui, this guy is so hateful. You must not be fooled. It is not cost-effective to compete with him for control of the Xiangjiang Electric Lighting Company at this time."
Li Jianhui never thought about taking over this company at this time, otherwise he would not be exposed with only this small share.
However, Column Standard Chartered's words at the press conference really made him quite unhappy. In order to get this guy to pay more money, Li Jianhui planned to make the stock market lively.
He called Shi Shaoming directly and asked him to release the news through Jiashi that Xinjian Investment Company was contacting Standard Chartered Bank to purchase its shares.
At the same time, it was announced that Xinjian Investment Company had raised 2 billion Hong Kong dollars, vowing to help the citizens of Hong Kong get rid of the situation of no Chinese capital in electricity.
Xinjian Investment Company also made high-profile purchases in the stock market, and it seemed that it was really going to compete with Coron Standard Chartered.
At this time, Xiangjiang's securities investment institutions and stock investors not only did not sell their shares, but also continued to buy in. This caused the stock price of Xiangjiang Electric to soar rapidly, rising from 4.62 Hong Kong dollars per share to 5.47 in a short period of time.
If it hadn't been for the closing time, I'm afraid this wave of gains wouldn't have stopped at all.
One side is furious, the other side is celebrating.
Because of the skyrocketing stock price, Coron Standard Chartered would need to spend hundreds of millions more to acquire 49.9% of the shares.
As for Xinjian Investment Company, even though it started to purchase goods vigorously, when the stock price soared later, the company slowly continued to ship goods, so that the shares in its hands not only did not rise, but also fell by 0.3%.
Since the current stock market rules are not perfect, as long as the Xiangjiang Electric shares held by Xinjian Investment Company do not fall below 5%, there is no need to disclose it.
So much so that the outside world didn't know exactly how many shares he held. Many institutions and investors, even Kelun and Standard Chartered, thought that Xinjian Investment Company was trying its best to acquire the shares of Xiangjiang Electric.
Li Jianhui will not let his shares fall below 5%. Although he can make a lot of money in that way, it will be too bad for his character. It will not be worth the gain for him, and it may also implicate other industries under his ownership.