I Want To Be a Rich Man on Hong Kong Island

On January 8, 1985, the Hang Seng Index closed at 1588 points, and the turnover on that day hit a record of 800 million Hong Kong dollars;

In Wu Guangyao's view, a new wave of market conditions in Hong Kong has already begun;

The era of stockholder fever and stock market madness will come again.

In the next few days, the stock market showed some weakness, and it has not exceeded 1600 points;

However, there is an unusual phenomenon in the market:

For a long period of time, Wheelock stock has been active in the market, and I have been in a state of steadfastness, which belongs to that kind of "hibernation stock";

However, in late January, Wheelock’s stock price suddenly jumped from HK$4.1 to HK$5, like a long snake waking up.

Such an abnormal market situation has caused market participants to speculate;

The most popular saying in the market is that the Wu family wants to acquire Wheelock Group.

The reason is simple: 'National hero' Wu Guangyao has always liked to acquire British-funded companies, and the large British-funded companies he saved accounted for half of Hong Kong Island; such as Wharf, Hong Kong Land, Hutchison Whampoa, Qingzhou Cement, Hong Kong Tramways , Hongkong Electric, China Gas......

Now that Wheelock is about to make a move, the first thing everyone thinks of is that Wu Guangyao is 'making trouble'.

At the same time, some media dug up old accounts: In 1982, some media in Hong Kong published a piece of lace news——Wu Guangyao had presented a Zhongtang birthday scroll to the founder of Wheelock (deceased) 20 years ago. , accidentally wandered on the market, and sold it in an antique shop; after learning about it, Xiao Ma Deng went to buy back this treasure, only to find that it had been preempted by others.

The media believed that the Madden family did not take the treasure presented by Wu Guangyao seriously and hurt the face of the world's richest man. Then Wu Guangyao need not be polite, since the fate is over anyway.

As the protagonist of public opinion, Wu Guangyao suddenly felt helpless, those stockholders really had a lot to think about;

Wu Guangyao has never coveted Wheelock for two reasons:

First, although Wheelock's assets are rich, they are not must-buy items, nor are they irreplaceable assets; simply put, I don't like them!

Second, Wu Guangyao and the old Ma Deng did not know each other, and the relationship with the little Ma Deng was also good, which can be regarded as a friend relationship; there is an old Chinese saying - a friend's wife should not be bullied; a friend's wealth should not be greedy.

So, how could Wu Guangyao take the initiative to acquire Wheelock Group,

Even when Xiao Madeng intended to release the market back then, Wu Guangyao was not at all tempted.

As for the lace news from the media, although Wu Guangyao was a little angry that the Madden family had 'lost' their treasure, he would not cause trouble because of this matter.

Regarding the rumors in the market, Wu Guangyao was unable to explain, nor did he want to explain;

If you are willing to make up your mind, let's do it!

However, Wu Guangyao was already aware of the abnormal stock behavior of Wheelock Group;

Unsurprisingly, it should be the dragon crossing the river——Qiu Debo is making waves.

Depending on the situation, the chairman of Wheelock, Mr. Madden, has sold his shares to Qiu Debo;

At the same time, Qiu Debo quietly purchased Wheelock shares in the market, which caused the height of Wheelock shares.

Like the Keswick family, the Marden family has always been afraid of the '97 return';

Then it is logical for the Madden family to fade out of Hong Kong.

Coincidentally, due to family strife, Zhang Yuliang, the major shareholder of Wheelock Group, also intends to fade out of Hong Kong;

This made Xiao Ma Deng a step ahead and quietly sold his shares to others.

Who is Qiu Debo, who dares to come to Hong Kong to buy a large British foreign company?

At this time in Hong Kong, Qiu Debo is definitely an unknown person, more than 90% of Hong Kong citizens have never heard of Qiu Debo's name;

But Qiu Debo can be called a "dragon crossing the river", obviously he is not an idle person;

Qiu Debo was originally from Fujian. He worked as a clerk in an overseas Chinese foreign company in Malay in his early years. He founded Maybank with his friends in 1960;

In 1965, Chiu Tak moved to Singapore for development and acquired Maybank's Singapore assets - five listed companies mainly in the hotel industry; in Singapore, the wealth of the Chiu family is second only to the Huang Tingfang family, and both of them are famous A prominent Nanyang rich man.

In the early 1980s, the Huang Tingfang family entered Hong Kong, and the flagship Sino Group in Hong Kong was also among the top 15 real estate listed companies in Hong Kong;

Qiu Debo, who is also a rich man in Nanyang, is naturally itchy and eager to find a foothold for his abundant funds in Hong Kong.

Qiu Debo, who is seventy years old this year, will never be a reckless person, so he is fully prepared;

First, negotiated with the Madden family through an intermediary to purchase 14% of Wheelock shares owned by the Madden family.

 …

Thursday, January 31, afternoon.

Wheelock announced the suspension of trading, and immediately reported the conclusive news of the acquisition: the acquirer is Fal Company, a Hong Kong company just registered by Qiu Debo, and Luo Fuqi \u0026 Sons (Hong Kong) Company is its financial advisor; Luo Fuqi proposed conditional on behalf of Fal Company According to the comprehensive acquisition agreement, FAL Company purchased Wheelock's A shares at HK$6 per share in cash and HK$0.6 per share in cash at Wheelock's B shares. The acquisition involved a total of HK$1.9 billion.

The proposal also states that Fal has purchased 6.7% of Wheelock's A shares (approximately 210 million shares, with a total share capital of 3.1 billion shares) and 22.7% of Wheelock's B shares (approximately 0.55 billion shares) from the Madden family. 100 million shares, the total share capital of b shares is 240 million shares).

AB stock model: the stock is divided into two series a and b, in which the series a ordinary shares issued by external investors have 1 voting right, and the b series ordinary shares held by the management have n votes per share (usually 10 votes) voting rights.

To put it simply, it means different rights for the same share, which is a means for the management of some listed companies to use a small number of shares to control the entire company;

Wheelock's ab shares are another model, both have the same voting rights, but the value of b shares is only 1/10 of that of a shares;

Wheelock Hong Kong Island is the first listed company in the history of Hong Kong Island to carry out ab share split, and it is also the only listed company to implement ab share.

At the beginning, Wheelock took the lead in implementing the AB stock model, in order to fear that other Chinese-funded companies would follow Wu Guangyao's example and launch an acquisition of Wheelock;

Because he was the first person to eat crabs, he caught the regulatory authorities by surprise;

Afterwards, the China Securities Regulatory Commission rejected the issuance of ab shares that all subsequent companies applied for, while Wheelock was done, and its influence was not low, so the matter was left alone.

Li Chaoren was one of the people who wanted to learn the ab stock model at the beginning, I don’t know what he was worried about...

In Wu Guangyao's view, Wheelock's ab stock model is not unbreakable;

If you buy it yourself, even if you don’t need to spend a lot of money, you can break this model;

First of all, Wu Guangyao will secretly purchase certain A shares, and then convene a board meeting to veto the equal voting rights of B shares;

Because at this time, the total voting rights of Wheelock's Madden family and Zhang family are less than 50%;

Then the remaining more than 50% of the voting rights must be unwilling to see the status quo of different rights for the same share, and the priority of B shares can be easily changed on the board of directors.

In this way, the defense lines of the two companies can be completely disintegrated!

Of course, Wu Guangyao would not make such a malicious takeover, he just put himself in his shoes and thought about it!

 …

Wheelock Building

Zhang Yuliang was furious, scolded Xiao Ma Deng for not talking about "wude", and quietly sold the shares to Qiu Debo;

It turns out that a major equity change requires the consent of the major shareholder, let alone the knowledge of all directors;

Madden traded with the Qiu family in private, so he didn't treat his long-term partners as human beings.

"No! Qiu De dialing in as the owner of Wheelock will probably damage the interests of all shareholders! I must stop him!"

"If I launch an anti-acquisition, I will inevitably invest a lot of money; now I have intentionally faded out of Hong Kong and moved to Australia, so anti-acquisition is unrealistic."

"However, if we initiate a non-anti-acquisition, Qiu Debo will surely succeed!" "It seems that I can only find foreign aid! Well, anyway, I also intend to fade out of Hong Kong, so I might as well sell Defeng shares at a high price while the market is rising Lose!"

Zhang Yuliang quickly made up his mind, the stockholders were waiting for Zhang to fight, but he didn't agree with him;

Wouldn't it be better to sell your own shares to someone who is capable of wrestling with Qiu Debo, and sit back and watch the tigers fight by yourself!

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