The acquisition of Hutchison Whampoa by Li Jianhui caused great turmoil in Hong Kong and even the mainland. Two of the four major foreign banks have been taken over by Li Jianhui.
Some people are already thinking about who Li Jianhui will attack next: Jardine Matheson, the leader of the four major foreign companies, or Swire, which owns Cathay Pacific Airways.
These two companies also do not have very high control over the shares of their own companies. If Li Jianhui continues to make such aggressive acquisitions, he might wake up one day and find that another big foreign bank has changed its owner.
The Hong Kong Exchange and the Hong Kong government seemed to have sensed the crisis. In order to prevent the four major foreign banks from being wiped out, they were particularly efficient this time.
A bill on securities and stock market trading was approved by the Legislative Council in just three days, formalizing the trading regulations previously drafted by the Hong Kong Stock Exchange into law.
At the same time, adjustments have been made in many places, the first being the Code of Mergers and Acquisitions of Listed Companies.
It stipulates that any institution or individual holding 5% of the shares of a listed company must immediately report to the Hong Kong Stock Exchange and make an announcement to the public at the same time.
Second, if the company's major shareholder transfers more than 5% of his shares, he must submit an application to the Hong Kong Stock Exchange, and the transaction can only be made after approval.
Third, major shareholders of listed companies holding more than 5% of the shares must report to the exchange three days before reducing their shareholdings and make an announcement to the public at the same time.
Fourth, the Hong Kong Exchange will strictly investigate multiple accounts and serial hostile takeovers. Once discovered, their accounts will be banned and their investment institutions will cancel their trading seats on major exchanges in Hong Kong.
The most important one is that any acquisition of shares exceeding 35% of the company's shares will automatically trigger the compulsory acquisition regulations. Within 15 days, if other shareholders accept the compulsory acquisition, the triggering person must make the purchase at the highest share price of the listed company within six months.
acquisition.
The other problems are not big, especially the fourth one. There are many ways to avoid it.
Only this last one can basically put an end to the previous acquisition practices of Li Jianhui and the chartering king, and can protect the assets of the Xiangjiang British-owned consortium from being easily acquired by Chinese investors.
For example, listed companies under Jardine Matheson and Swire cannot reach 49.9% of the shares, but 35% is still very easy. As long as they do not want to sell their companies, it is generally impossible to be acquired.
If there really are those who run money printing machines and don't care about money, even if the stock price is the highest in six months, they will buy it, then they won't mind selling their shares.
There is nothing wrong with getting cash that may far exceed several times the company's market value, and there is no need to hold on to it.
The bosses of the Hong Kong British-funded consortium are extremely happy. Once this bill comes out, they basically don't have to worry about a hostile takeover by Chinese-funded families.
The vast majority of controllers of listed companies are also very happy. If they own more than 35% of the shares, they don't have to worry about suddenly finding out that the company is no longer theirs.
Xiangjiang stockholders and small and medium-sized investment companies are equally happy. They no longer have to worry about major shareholders of listed companies secretly reducing their holdings, so that their investments can be safer.
This is a standard for the order of the Hong Kong stock market. Although it has some restrictions for some people, for the vast majority of people, this is a very good law and has a great role in promoting the development of Hong Kong securities trading.
Li Jianhui was also thrust into the spotlight due to the introduction of the Securities and Exchange Act. In the eyes of the vast majority of Xiangjiang citizens, this was mainly aimed at Li Jianhui.
In this regard, Li Jianhui specifically asked Jiashi to make a statement to express his own position.
Xinjian Investment Company is very willing to see the promulgation of the Securities Act. In the future transaction process, Xinjian Investment Company will strictly abide by the securities law, achieve timely reporting and timely disclosure, and welcome the supervision of shareholders.
Anyway, unless this bill is passed, Li Jianhui will not take any further action for the time being. After acquiring Hutchison Whampoa, he has almost used the funds transferred from Blue Maple Investment Company, and there is no spare energy to acquire these large companies.
And there are not many companies that can catch his eye right now. One is Heung Kong Electric, one is Cathay Pacific Airways and Heung Kong Aircraft Engineering Company owned by Swire, one is China Gas, and the other is Kowloon Bus.
At present, these are not easy to acquire, and the other companies are not weak. It is not easy for Li Jianhui to take over. Kowloon Bus is Lei Juekun's company, and the relationship between the two parties is good at present. It is not easy for Li Jianhui to take action on it.
As for other companies, Li Jianhui doesn't have much interest in them. At present, the several major sectors in his hands are almost laid out, and there is no need to acquire similar companies.
I don’t know if Li Jianhui asked Jiashi to issue a statement that made the Xiangjiang government think that he was on the right track. The banking license that Xinjian Investment Company had applied for for several months was approved in the afternoon of the next day.
This is also the fifth Hong Kong local banking license issued by MacLehose since the implementation of financial reforms. The first four were obtained by Hang Lung Group, Sun Hung Kai Securities, the Ho Family, and Lai Sun Group.
Xinjian Investment Company applied at about the same time as these companies, but it took the longest to be reviewed. Li Jianhui knew that someone must have made things difficult for him.
Fortunately, MacLehose was fair to all parties in Hong Kong and did not particularly favor the British-owned consortium in Hong Kong. This allowed the Chinese capital to rise rapidly.
In the CEO's office of Wheelock Building, looking at Li Zaiwei who looked delighted, Li Jianhui said: "The headquarters of Xinjian Bank will be temporarily placed in Wheelock Building. After the funds come back next year, Xinjian Building will be built."
Li Jianhui injected the remaining HKD 200 million in his hand into Xinjian Bank as the starting capital of Xinjian Bank.
Due to limited funds and limited management personnel, Yanjian Bank only plans to open five business offices in the first batch, namely Central, Hung Hom, Tseung Kwan O, Tiu Keng Leng and Kowloon Broadcasting Road.
As the flagship of Li Jianhui in the future, Li Jianhui himself will serve as the president of Xinjian Group, and Li Zaiwei will serve as the executive vice president of the group, managing its subsidiary Xinjian Bank and Xinjian Investment Company.
Chen Huiya and Chen Yulian exchanged positions. Chen Yulian became the general manager of the administrative department of Xinjian Group and still served as his assistant.
Chen Huiya was transferred to Wheelock Group and served as general manager of the administrative department of Wheelock Group.
Li Jianhui, who held many responsibilities, also began to lay down some positions. Huang Guangxing became the president of Huihong Group, Wang Haichuan became the vice president of the group, and Li Jianhui no longer held any position in Huihong Group.
Li Jianhui of Jiayi Group also appointed Shi Shaoming as the group president, Liu Tianci as the group's executive vice president, and Ye Jiexin as the group vice president and general manager of Jiayi Group.
As for Zhou Jiayi, Li Jianhui transferred her to Hutchison Whampoa as the vice president of the group, mainly responsible for the group's administration, finance, public relations and other matters.
At the same time, he also helped him keep an eye on Hutchison Whampoa. The vice presidents there had only been in contact for a short time. Li Jianhui was not completely reassured. Zhou Jiayi was already considered a veteran of his company, so he was much more at ease than people like Hutchison Whampoa.