Reborn Tokyo Golden Age

Shirakawa Electric is valued at 586.5 billion yen, and 35% of the outstanding shares are issued, which is calculated to be 290 million stocks.

How to put these 290 million stocks into the market and in what form is a complicated science.

As a listed company, Baichuan Electric will of course not directly participate in the issuance of stocks. Its responsibility is to convert its own assets or product prospects into tradable virtual stocks.

These stocks are the quantitative embodiment of enterprise value, which can be purchased by the outside public and traded freely.

The newly listed stocks of Baichuan Electric will generally be put into the primary market or secondary market through intermediary agencies.

These intermediaries are similar to trading windows, or selling roles such as wholesalers and brokers.

Sitting in the meeting room at this time is the first Quanyin, Nomura Securities, and Beidu Bank, who have assumed such roles.

As the underwriters of stocks and bonds, they are responsible for putting the stocks of Baichuan Electric into the trading market through various methods.

There are generally two ways for underwriters to issue shares.

Underwriting distribution method, and consignment distribution method.

Underwriting issuance, as the name implies, means that a securities firm purchases all or part of the newly issued stocks of a listed company at one time, and advances all capital equivalent to the issue price of the stocks.

Then the securities firm sells the stocks bought in packages to the trading market by itself.

Of course, the stock prices purchased by underwriters from listed companies are all traded at the lowest issue price, or even at a more favorable price.

And when the underwriters resell the stocks under contract to the primary and secondary markets, the price is set by themselves.

This is equivalent to making a difference, buying at a low price and selling at a high price.

However, this method of underwriting and issuing is generally carried out in newly listed small and medium-sized technology companies.

Most of these companies are short of funds, so when faced with a one-time payment from underwriters, they are more willing to package their stocks with them and leave the market with their own money.

Most of the underwriters who can carry out the stock issuance business also have abundant funds, and they are more willing to use the underwriting method to issue stocks for companies they are optimistic about.

Of course, if the number of shares issued by a newly listed company is too large, several securities firms can jointly underwrite the shares.

As for another way of issuing stocks, consignment issuance is the opposite of underwriting issuance.

The subject of consignment sales is the listed company itself, but it is executed by the underwriter.

The income from stock issuance is earned by listed companies and has nothing to do with underwriters.

As an intermediary role, they just get a handling fee, or a very low commission.

Regardless of underwriting distribution or consignment distribution, each has its own advantages and disadvantages.

Underwriting issuance can raise the required operating funds for listed companies in a very short period of time, but this is a one-time transaction, and subsequent stock returns have nothing to do with it.

The advantage of consignment issuance is that the overall value of the stock will be higher than the company's initial issue price, and more funds can be raised.

But the disadvantage is that this cycle will be relatively long, and there are certain risks.

If the company is not optimistic, it will go bankrupt if it goes public, and the financing obtained from issuing stocks will be greatly reduced.

In short, the specific issuance method needs to be determined according to the company's situation, which is a two-way consideration between the listed company and the underwriter.

As for the shares of Baichuan Electric, to be honest, the first Quan Yin wished he could buy them all in one go.

Because he knew that Baichuan Electric's stock price would never be only 700 yen.

Not to mention its super profitability, the future development plan just distributed by the other party is a delicious and sweet pie.

It doesn't matter whether this pie can be eaten or not, but most investment institutions will eat it.

Take this financial statement and future plan, go up and blow it up, I believe that this stock will not worry about selling.

However, Watanabe Ichiro glanced at Yaniya Takashi, who was also staring beside him, and Arai Yu, who was sitting upright, and he gave up his plan to swallow the shares of Shirakawa Electric.

Everyone is not a fool, just spent tens of billions, isn't it just for this moment?

"Cough~" Ichiro Watanabe cleared his throat, "Does Bai Chuan-san have any thoughts about the underwriting of Bai Chuan Electric's stock?

I have just read the plan drafted by you, and it seems that a large amount of funds will be needed for various research investments in the future.

How about it? Whether to consider the way of underwriting distribution.

If we are responsible for the underwriting, Baichuan Electric can get 205.2 billion yen in financing at one time.

With this money, many projects can be carried out immediately, research and development can be carried out sooner, and results can be produced sooner. "

After speaking, Ichiro Watanabe looked at Bai Chuanfeng eagerly, his naked eyes were always tempting the other party to agree to such a condition.

It's a beautiful thought, if it wasn't for doing some homework in this area in advance, Bai Chuanfeng might really be a little moved.

After all, with 205.2 billion funds in hand at one time, it is true that many projects in mind can be launched.

But now. Bai Chuanfeng smiled very politely.

"What Watanabe-san said is indeed reasonable, but Shirakawa Electric is not under too much financial pressure at the moment.

For the specific distribution method, why not discuss it with everyone to find the most optimal solution? "

Hearing Bai Chuanfeng's answer, Watanabe Ichiro silently sighed in his heart.

Sure enough, it's not that easy, even if you think about it. With that guy Arai around, he's not a stock market rookie.

"In this case, everyone might as well talk about their own ideas and the number of shares they can underwrite."

In any case, nearly 300 million stocks will be issued through the three of them.

Regardless of whether it is an underwriting distribution or a consignment distribution. These three underwriters will all make money, the difference is that they earn more and less.

Bai Chuanfeng didn't participate much in the following discussion.

Oh, it can't be called a discussion, it might be more appropriate to say a quarrel.

For them, stock underwriting is the distribution of benefits.

It's a matter of profit, how can you give in so easily, all of them are blushing and have thick necks, so there is no such thing as the etiquette just now.

The tens of billions that Shirakawa Electric invested in before may not be able to collect in a short time.

However, the income brought by stock underwriting, if the operation is good, can easily reach tens of billions.

This is equivalent to the tens of billions of shares invested before, and it will be paid back in an instant. The remaining shares of Baichuan Electric are a net profit.

In the face of such a large profit, no matter how good self-cultivation is, it is useless.

Whoever has the loudest voice has the momentum. With his beard and hair all stretched out, he didn't know that he thought he was going to fight.

Sitting next to them, Bai Chuanfeng had a headache from the noise.

Especially during the quarrel, the technical jargon mixed in was a headache.

However, Yu Arai was the most difficult one, who wanted to fight for the interests of Shirakawa Electric and Beidu Bank at the same time.

From the perspective of stock issuance, Baichuan Electric and Beidu Bank are opposites.

Occasionally Watanabe Ichiro and Yanagiya Takashi would ask him unceremoniously, which side are you on.

Facing their menacing eyes, Yu Arai almost lost his mind.

In the end, Bai Chuanfeng couldn't stand their quarrel in the vegetable market, and acted as a middleman, letting each other take a step back.

In order to appease them, Baichuan Electric's shares also chose a mixed issuance method of underwriting and consignment sales to apportion.

Although Bai Chuanfeng also knew that his own stock might go up, he had to share the benefits.

Again, eating alone is not enough.

Baichuan Electric was successfully listed, and the shares could be sold. In fact, he had already achieved his goal.

As for the middleman's price difference, he didn't want to insist on it, because that was not the goal of Baichuan Electric.

After all, stock underwriting is a financial game, not the industry he is good at.

In the end, with Bai Chuanfeng's nod and approval, 70% of the outstanding shares of Bai Chuanfeng Electric will be issued in the form of underwriting, and the remaining 30% will be consigned.

As for the 70% underwriting share, the first persuasion bank gets 40%, Nomura Securities gets 20%, and Beidu Bank gets the last 10%.

After all, First Quanyin is the main promoter of Baichuan Electric's listing, and it is also the first financial institution to establish a relationship with Baichuan Electric.

Besides, not to mention the current shareholding ratio, just by smoothing out a lot of things for Baichuan Electric in the middle, it deserves to be able to take the big head.

Also as the largest securities firm of Neon, it is the largest, not one of them.

Nomura Securities deserves 20% of the share. They have a unique advantage in stock distribution channels.

In addition, they also solved many personal problems for Bai Chuanfeng. The dozen or so real estate properties of Bai Chuanfeng in Tokyo were all won through their introduction.

These properties are not ordinary apartment houses, they are super luxury houses belonging to another class.

Retro, western, modern, all kinds of styles are available. Moreover, the designs are basically made by famous artists, and most of them are priceless.

As for the remaining 10% for Beidu Bank, to be honest, it was only for Bai Chuanfeng's face.

Otherwise, for First Quanyin and Nomura Securities, Beidu Bank is not qualified to sit here.

But 10% of the share is enough for Beidu Bank, and it won't be able to eat any more.

Underwriting is a one-shot deal for Baichuan Electric, but after the contract is signed, the underwriter will also find a buyer to sell it.

Of course, First Quanyin and Nomura Securities have no shortage of channels. They have a large number of domestic and foreign customers behind them, and they have cooperated in investment.

Although there are quite a few stocks issued by Baichuan Electric, they are not worried about selling them at all.

But for Beidu Bank, 10% of the stocks are close to 30 million, with a market value of about 20 billion. It will take some effort to sell them.

However, in any case, everyone got a relatively satisfactory underwriting share.

After all, Baichuan Electric's potential is boundless, and the financial circles have already paid attention to this dark horse.

Underwriting his stocks is almost a sure-fire business. What else are there to be dissatisfied with First Quanyin and Nomura Securities?

For the remaining three layers of stock agency sales, everyone only earns a handling fee, so the distribution is very harmonious.

Even considering that Beidu Bank received relatively few benefits, the first persuaded Yin to give it some more, treating it as some soup.

Most of the agency sales fees do not exceed 0.3%, and 30% of the tradable shares add up to less than 200 million yen in revenue.

Compared with the income of underwriting, this is completely worthless.

As a result, the 300 million stocks listed by Baichuan Electric were quickly divided up.

This is the feast for No. 1 Bank and Nomura Securities. As for the income from investing in Baichuan Electric, honestly speaking, it is far less important to them than stock underwriting.

Now that the distribution of benefits is completed, it is time to talk about the specific operation of Baichuan Electric's listing.

Think about it, isn't it a little funny, the listing application has not yet been submitted, but all interests have been divided up.