The Industrial Giant Reborn

"Privatization?" Richard was taken aback.

"Yes, all privatization. Although I now have an absolute controlling stake, other shareholders still need to pay for fundraising. Hutchison's current situation really makes them spend tens of millions or even hundreds of millions. Funds, they are definitely not willing, this will only affect the normal business of Hutchison. Besides, if we do not privatize, we will sell a large number of Hutchison assets in the future, and there will definitely be a lot of people who oppose it. In case it really reaches 33.4% of the equity If we oppose it, we will be trapped." Chen Zhiwen explained.

The bottom line of a veto is 33.4%, which is 1/3 of the equity. When 1/3 of the equity is concentrated, it can block major decisions of the company. Although it is difficult for scattered people to gather together, it is also possible. Sexual, after all, I will perform a large-scale operation on the entire Hutchison in the future, which will easily cause opposition from many people who don't understand. If it is really used by someone who is interested, it will still be very troublesome.

The same is true for fundraising. Hutchison needs 200 million. After I control 49.9% of the shares, I will contribute almost 100 million according to the shareholding ratio. Even if a normal company wants shareholders to pay so much money, it may take three to five months to raise 80% of the shares. Therefore, most companies will only raise funds through share expansion.

But in the current situation of Hutchison, it is estimated that no one wants to expand shares, especially the shareholders do not believe that Chen Zhiwen, a Chinese, can save Hutchison, and if he increases shares for himself, his shareholding will soon exceed 50%. That triggers a general takeover offer.

And more importantly, the Hong Kong stock market and real estate will rise sharply in the future. This dividend will increase Hutchison’s property by billions in the future. The land is a piece of fat sheep.

"If there is no problem with Chen Sheng's funds, this is naturally better." Richard has nothing to say, anyway, the other party controls 49.9% and 100%, which is the same.

"Okay, so be it." Chen Zhiwen nodded and said, "If you have any important matters, you can notify me directly."

"OK, Zhou Sheng, then I will leave first." Richard left politely after finishing speaking.

Zhou Jiayang on the side said: "Chen Sheng, privatizing Hutchison, we don't have so much money now?"

Chen Zhiwen said: "Don't worry about it. Privatization is not like going to the supermarket to buy something, and I don't want to trigger a takeover offer. This thing requires too much capital, and I need the next game."

"Not triggering a takeover offer? Isn't that unlikely?" Zhou Jiayang asked.

"Landmark bought Milk, do you think they triggered the offer?" Chen Zhiwen said with a smile.

"This..., no." Zhou Jiayang said after recalling for a moment.

In the past, Hongkong Land exchanged its own shares for the shares of the milk company in the hands of milk shareholders. No matter how it was exchanged, it was a few-to-one transaction, but there was no one yuan in cash. They were also dumbfounded, so they could only pinch their noses and admit it.

Of course, it may also be a raccoon of the same species, who deliberately doesn't care.

"We can't use the trick of setting land!" Zhou Jiayang asked.

"Yes, and even if we have the ability to use it, Hong Kong stockholders will not be fooled for the second time." Chen Zhiwen said that before Hongkong Land exchanged shares, it turned out that his own shares had a lock-up period. , The stock price collapsed, and shareholders suffered heavy losses.

"Then what should we do?" Zhou Jiayang asked.

"Hutchison's current stock has basically fallen to 5% of its peak value. Under normal circumstances, this kind of stock can be forcibly delisted, right?" Chen Zhiwen said.

"Delisting?" Zhou Jiayang immediately said as if enlightened, "Chen Sheng means to delist first, and then fully privatize?"

In the case of Hutchison, it should have been forcibly delisted a long time ago, but the scale of Hutchison is too large, and the Hong Kong government dare not do this, so it can only be delayed.

"Yes, as long as you delist first, you can bypass all the restrictions." Chen Zhiwen said.

"This is indeed a loophole." Zhou Jiayang nodded and said that the stock market can siphon money. Throughout the history of Hong Kong, there have been many companies that have been squeezed out of the market, and some have been forcibly delisted, but those who delisted voluntarily, it is estimated It is true that there is no such thing as the stock exchange's regulations on this area are not perfect.

"When delisting, we are not obliged to buy investors' stocks, but after delisting, I can inject capital independently, without the restrictions of the stock exchange, many things will be much more convenient." Chen Zhiwen said.

"This kind of operation can indeed bypass the acquisition offer, but it may cause us a lot of criticism. Moreover, the stock exchange may not allow us to go public again in the future. Is Mr. Chen planning to re-list Hutchison in the future?" Zhou Zhou Jia Yang asked.

"The next listing will be a long time away, and it will be a problem in the future. We will talk about it later. Moreover, the Hong Kong government may change by then. The problems left now may not have any impact in the future. Hong Kong cannot be listed, but it can be listed in the United States, Canada, and the United Kingdom." Chen Zhiwen said indifferently.

In the future, Hutchison is of great significance to Chen Zhiwen's plan, so now we must take advantage of the lowest stock price to go private, if not, wait for half a year after the stock price has been low for a long time, and then launch a takeover offer, but that will cost more high price.

And unlike later generations, it is difficult for him to get strong support from HSBC, and he can only rely on himself in many cases. In this case, privatization is a necessary choice, otherwise the company needs funds, and those shareholders will quarrel. What should I do if I make a fuss and refuse to pay? It's purely a waste of energy and time, and you can't increase your own shares, so you can't lend money to Hutchison yourself, right?

"The only problem is that delisting requires the approval of 66.7% of the shareholders. Mr. Chen, you don't have enough stocks. We can take advantage of the low stock price and buy up to 49.99%, but not more." Zhou Jiayang said.

Chen Zhiwen said: "This is not a problem. Let overseas registered companies buy some more stocks, and then find a few people to attend the shareholders' meeting as representatives. Also, you have contacted many shareholders before. They should all be willing to sell their stocks?"

Zhou Jiayang nodded and said: "Yes, I took the initiative to contact some shareholders in the last period of the acquisition of Hutchison shares, and many of them were willing to sell their shares, but the stock price was a little higher at that time, and the acquisition reached the required amount at that time. After the share, it’s over.”

"Then they should be very desperate now." Chen Zhiwen said with a smile. The Hong Kong media is still very unfriendly to the Chinese, especially those British-funded newspapers, who keep looking down on Hutchison. share.

"Yes, they are still contacting me recently, wanting to sell us the stock." Zhou Jiayang said.

"Then tell them, I can buy their shares at a price 50% higher than the market price, but they must cooperate with us in the delisting of Hutchison at the general meeting of shareholders. After delisting, we will trade again. They are all smart. People should know how to choose." Chen Zhiwen said.

Delisting is Chen Zhiwen's plan for the privatization of Hutchison. As long as 66.7% of the votes are in favor, even outsiders know that it is a conspiracy, there is nothing they can do. After delisting, full privatization can be easily carried out without being restricted by the stock exchange.

Of course, the main reason is that Hutchison's current business is so bad that the shareholders have long distrusted Hutchison. In particular, Chen Zhiwen, a Chinese, acquired Hutchison, which caused panic among shareholders. The stock price was too high in those few days, and Chen Zhiwen would more readily launch a takeover offer to privatize the entire Hutchison.

Moreover, this kind of situation will basically not happen in the future, because even if a company with normal business is delisted, many shareholders may not necessarily withdraw. Only the current Hutchison has too much debt, and normal shareholders will be afraid of it Completely bankrupt, and eventually the investment becomes nothing.

"I know what to do. As long as the privatization of Hutchison is successful after delisting, and we will solve the debt problem of Hutchison later, then we will become one of the most powerful groups in Hong Kong." Zhou Jiayang said with a smile.

"Of course, but don't forget Wharf. After Hutchison is acquired by us, all British capital will be very sensitive. During this period, the acquisition of Wharf will be suspended for a period of time. In addition, our funds need to be used to solve Hutchison first. Question, let's wait until next year to talk about Wharf." Chen Zhiwen thought for a while and said.

In fact, in the past six months, the main acquisition of Galaxy Securities has been Hutchison, and there are not many acquisitions by Wharf, because there is no rush at all. In the original history, Hutchison was because the stock price bottomed out in December 1974, and it would be in September 1975. It was taken away by HSBC, so it had to be done early, and the time was very tight. As for Wharf, it doesn't matter if it stops for a year or two. It just has to wait until the Jardine Group's large overseas investments have all lost money before they can start.

"Okay, I will stop all actions at Wharf now, and I will not buy a single stock." Zhou Jiayang said.

"Then you just stayed in Hutchison during this period, helped me stabilize Hutchison, and then arranged talented Chinese inside to take over important positions. What I said to Richard is true, and I will use this group of ghosts in the future , but it does not mean that they will always control Hutchison, the Chinese also need real power." Chen Zhiwen said.

"Chen Sheng, although Richard seems to be very cooperative with us, I think he seems unwilling to promote Chinese people." Zhou Jiayang said with a frown.

"Of course, we want to use Chinese. They will naturally feel that it is very dangerous. This is an instinctive reaction, but the normal operation of Hutchison is still inseparable from them, so you have to master a balance." Chen Zhiwen said with a smile: " Don't worry about this, you should first understand the actual situation of Hutchison. Hutchison now has more than 300 branches, and I have to deal with most of them. What you have to do now is to understand these with Richard Branches, which ones need to be kept, which ones don't need to be kept, and how much is the value of those that don't need to be kept? I can't just believe what Richard said, I also need to refer to your opinions. "

"Okay, no problem." Zhou Jiayang nodded and agreed. The Huayang dispute within Heji is a matter for the future. The first step now is indeed to revive Heji and fully privatize the boss.

"I don't know what's going on inside?" Outside the Hutchison Building, many reporters were waiting at the door. They were sweating from the flames, and kept drinking ice water to cool down.

"It would be great if I could get an exclusive interview. I don't know if Hutchison will change its name?" said a young female reporter.

"Interview? Are you dreaming? I can't even interview Red Bull's senior employees. They have issued a death order and are not allowed to accept interviews." Another person said.

At this moment, a sound came from not far away. Several people looked up and followed the sound. It was the exit of the underground garage of the Hutchison Building. Many reporters were surrounding a car, as if they wanted to interview the people inside.

"Chen Zhiwen is inside?" They didn't understand. When they came, they went through the gate. If there is no need to go, they should go underground. It's not that there are no security guards, and it's not yet noon, so there is no reason to leave now.

"Let's go and have a look." Several people trotted over carrying the interview equipment.

But when we arrived, it was obviously too late, and the camera was too heavy.

"Old Qin, what's the situation?" These reporters belonged to different companies, and they were considered competitors, but they wouldn't be life and death, and the relationship between them was pretty good on weekdays.

"Old Zhao, you are late. I took a wonderful picture just now." Lao Qin said with a smile: "Qi Dezun drove away and remembered."

"Did you get kicked out?" Lao Zhao's heart moved. Chen Zhiwen became the master of Hutchison. How to deal with Qi Dezun is a topic of many Hong Kong people after dinner.

"I have to go back to develop the photos first, goodbye." Lao Qin ignored the others, quickly picked up his video camera and ran away.

"Brother, what should we do?" Lao Zhao's subordinate asked.

"Stay there, I didn't take an important photo. When Chen Zhiwen leaves, let's see if I can get a photo of him." Old Zhao paused and said, "Go back and watch at the door, I'll go to the phone booth Make a call."

After finishing speaking, he ran to the telephone booth not far away, and after waiting for two people, he saw a number dialed, and said to the other party: "Brother Tian, ​​I am Xiao Zhao. I just got the news that Qi Dezun was directly contacted by Chen Zhiwen." If they are driven away, the stock price of Hutchison is estimated to be scrapped."