Reinventing the Millennium

New York, San Francisco, Los Angeles, Chicago, Boston, Washington.

The number of Yike's roadshows in the United States has increased due to the great success of the first stop in New York. The characteristics of the city are that it has strong financial strength. At the same time, there are four old people to help guide the way at each stop. The content of the roadshow can be said to be nothing. No challenge.

This is different from what Fang Zhuo imagined.

Moreover, the media within Goldman Sachs's influence have also begun to build momentum for Yike's listing.

Yike is different from some domestic companies. Because it has the same business as Apple, a listed company, it is easily understood and accepted by investors. In addition, the management performance created in the road show, each city's The response has been quite good.

Institutions of different sizes and a certain number of investors ultimately resulted in Fang Zhuo's stock subscription exceeding eight times when he returned to New York.

In other words, the lower limit of the offer price range for cumulative bid inquiries has been broken.

The shares Yike plans to issue in this IPO account for 8% of the total share capital, about 22.5 million shares. Goldman Sachs has set a price range of US$19-23 based on the judgment of various factors.

If the subscription ratio of the road show is less than 5 times, the lower limit of the inquiry price of US$19 will be used as the issuance price.

The current response is good, and the latest suggestion given by Goldman Sachs is to increase it slightly, setting it at around $25.

Goldman Sachs' initial offering price was US$19-23, and Yike's valuation was in the range of US$5.34 billion-6.47 billion. According to the latest recommendation, Yike's valuation has reached US$7.03 billion.

For comparison, Apple's market value at this time was $23 billion.

After a wave of road shows, Yike raised its value expectations by a considerable margin.

Originally, Goldman Sachs's range of 19-23 US dollars was a tacit understanding of a relatively high range, because the previous highest market value of Huaxia Company on Nasdaq was US$3.3 billion hit by NetEase this year with "Westward Journey 2", but it The stock price immediately fell back from the price of 70+ US dollars.

Currently, NetEase's share price is slightly ahead of Sina at US$57, while the latter is still stable at around US$51.

It is worth mentioning that NetEase's market value when it was suspended from trading the year before last was only 20 million US dollars. This year it rose to more than 3 billion, Sina's market value increased from more than 40 million to more than 2 billion, and Sohu's market value increased from more than 40 million to more than 1 billion.

The strong performance of this group of Chinese portal websites has refreshed many people's impressions of Eastern companies. Now, the listing of Yike has also become a relay, but it looks even more dazzling.

Because, although Yike's IPO price range is not high, with a total share capital of 281.25 million shares, its initial valuation exceeded that of NetEase and Sina at this time.

Once Yike is listed, it will be the first mainland Chinese company to hold shares in the United States.

Domestic people noticed that Yike had gone through the silent period of listing, and the 2003 Forbes rich list that had already been drafted came to an abrupt halt. Although they were still unable to know the situation of Yike's road show, out of intuition and vague estimation, they believed that NetEase Ding Lei, who has made rapid progress and is temporarily ranked first in the mainland, may not be in a stable position.

NetEase's stock in 2003 was too dazzling, and Ding Lei held close to 50% of the shares. Therefore, Forbes believes that Fang Zhuo should be ranked second in the country based on other assets when Sina's shareholding ratio and stock price are lagging behind.

If Keyico goes public...

Information exchange at home and abroad is not very timely, Yike's core business is abroad, and Hurun is hosting the richest rankings in China. It is difficult to correctly assess the value of Yike. I just plan to wait for the results to come out.

On December 24, Fang Zhuo returned to New York and accepted interviews with the Wall Street Journal and other media arranged by Goldman Sachs.

"Yike has broad prospects globally. I think the next ten years will be the era of consumer electronics."

"Yike and Apple are engaging in healthy competition, and there may not be any opportunities for cooperation in the future."

"Yike and Sony both compete and cooperate. Sony Music is our shareholder. I believe that the two companies can join hands to enter a new era."

"I personally don't have too many expectations for the listing. As the president of the company, all I have to do is quietly do a good job in the product and market. Capital matters are not within my scope of consideration."

"Obviously, from a global perspective, Yike has led the MP3 music player market. My goal for next year is to triple sales."

Fang Zhuo spoke eloquently in interviews with reporters.

Young and handsome appearance, well-matched clothes, fluent and idiomatic speaking, global analysis, and confident outlook are all easily included in media reports.

By the way, Goldman Sachs also helped provide material for Mr. Fang’s judgment on Sony two years ago. This is not only content that people in Japan, Singapore, and China are happy to see, but is also evidence that Americans can easily accept.

Who makes Sony a world-famous brand?

The interview that followed after a long journey did not exhaust Fang Zhuo's energy. After he left the camera with a charming smile, he immediately held an internal meeting within Yike and announced that the road show from Hong Kong and Singapore to major cities in the United States was nearly successful.

8 times the amount of subscriptions, this does not mean that investors can buy it if they want, it has to be a stroke from high price to low price in the IPO price range.

In other words, Yike’s goal of raising US$500 million by issuing 22.5 million shares has basically been achieved.

"January 1st, the launch date has been finalized."

"Everyone, everyone, I have to remind you seriously, solemnly, and formally."

"On January 1st, you'd better prepare your cameras to take pictures of the launch. This will be a witness to our initial success of Yike and will have great historical significance."

Fang Zhuo briefly described the road show situation at the meeting, and finally said heart-warming words in a serious tone.

There are still 8 days until New Year's Day. After these 8 days, Yike will be a Nasdaq listed company. This is not only the company's honor, but also the realization of the value of the options in hand. Just thinking about it is already intoxicating.

There was spontaneous applause in the conference room, and it soon ended in cheers.

"Today is still Christmas Eve, Xiao Yu, Xiao Pan, are you interested in relaxing and walking around the streets at night?"

Fang Zhuo called the executives and said with a smile: "Goldman Sachs said that Time Warner has a billboard about me on the street tonight. It's a conspicuous and handsome kind. It would be a pity not to see it. "

Yu Hong: "..."

She reminded: "Mr. Fang, you seem to have a friend from China waiting for you to meet. Are you going to ask him to go for a walk with you tonight?"

"Friends in China?" Fang Zhuo was confused.

Yu Hong thought for a while: "It seems like the surname is Ni."

"Oh, oh, Lao Ni." Fang Zhuo has spent more than a week since setting off from New York to major cities. With all kinds of reviews and numbers in his mind, he almost forgot that there was a gentleman from China who he knew. .

He thought about it and said, "I have to call Lao Ni. There is still some good room for cooperation between me and him. Let's have hot pot together that night and spend Christmas Eve together."

"Lao Ni definitely wants to be safe. He is lucky to meet me by chance. It's really hard for others to help him."

Fang Zhuo felt that this day was a coincidence, maybe it was fate, and in this world, it could be considered a blessing from Jesus.