The Industrial Giant Reborn

As for Hong Kong Electric, like Wharf, Chen Zhiwen has no intention to privatize it, at least not for the time being. This kind of traditional industry will be large-scale in the future, but the benefits are low. From the perspective of pure financial investment , It is not a high-quality asset at all, far inferior to the technology industry, and it is not in the low period of real estate like Hutchison. After privatization, you can get more capital by waiting for appreciation.

However, "don't care about privatization" is a sharp weapon for acquisitions. With this attitude, you can tell the acquired party to give up struggling early, but the premise is that the acquisition price cannot be raised, because after the acquisition offer is triggered, it needs to The remaining stocks are purchased based on the highest purchase price in the previous six months. In this way, once the previous price is high, the purchase price will increase several times.

"Since Jardine and HSBC have stepped in, let's quickly buy the stock at a high price. Buy first and then apply for the holding of the shareholders' meeting. I will make an appointment with Shen Bi. As long as HSBC doesn't intervene, Jardine will not be able to cause any trouble." Chen Zhiwen paused and said.

In the original history, Hong Kong Land also acquired HK Electric, but that was in 1982, when Hong Kong’s housing prices were even higher than they are now, and when Bao Yugang bought Wharf shares, Jardine took advantage of the high price to sell the shares. As for the current Jardine, without the help of HSBC, he alone would not be able to do this.

"Okay, then we'll do it right away." Xu Jinhong agreed.

In the afternoon of the same day, Galaxy Group officially announced that it already owns 28% of Hong Kong Electric's shares. At the same time, it will continue to buy HK$5.5 shares until it holds 34.9% of Hong Kong Electric. At the same time, Galaxy Group, as a major shareholder , disagreed with HK Electric’s introduction of Hongkong Land’s capital, and requested a general meeting of shareholders to vote on this matter.

5.5 Hong Kong dollars, but it is 15% more valuable than the average stock price of 4.8 in the market, and it has increased by more than 50% compared with the stock price of HK Electric before the public offer. , Many people began to move and sell the stocks in their hands.

Others were hesitant, because Landmark intervened, gossip and HSBC also intervened. No one knows what will happen after this acquisition. It is possible that Landmark will pay a higher price for the acquisition, or Chen Zhiwen may be acquired Forced to privatize Hong Kong Electric, no matter what the outcome is, it will be profitable for the waiting party, but the risk is that when Galaxy acquires 34.9%, the acquisition will either fail because it does not want to trigger the acquisition offer, or it will be acquired by other means success. In this case, they will miss the opportunity.

North Point, HK Electric Headquarters Building:

"It's been less than three hours since we just finished the meeting. How did Xinghe know that we were going to introduce Hongkong Land's stock." In the conference room, Connor asked a little furiously.

The group of people below, you look at me and I look at you, and then a British national said: "Could it be leaked by Landmark or HSBC?"

"I just asked on the phone. The two of them didn't hold any internal meeting. Only a handful of people like Shen Bi and Bao Fuda Niu Bijian knew about it. You wouldn't think it was them who disclosed it. right?" Connor snorted coldly.

The conference room suddenly fell silent. Everyone looked at the others suspiciously, but for a while, no one knew who the insider was. After a while, Connor said, "I don't know who among you guys is doing it." However, the current situation of Hutchison and Huang is a lesson from the past. In Hong Kong, it is impossible for the Chinese and us British to really trust each other. If the Chinese capital took over our company, even if we did not drive us away, it would also slowly take away the power from our hands.”

"Dong dong dong" knocked on the door, and a blond girl walked in. After whispering a few words in Connor's ear, Connor said, "Okay, everyone, let's do our own things."

After the meeting, Connor rushed to the headquarters of HSBC Bank, where Niu Bijian and others were also here.

"The current situation is beyond our expectations. Chen Zhiwen already has more than 20% of the shares in his hands. He has the right to hold a shareholders' meeting. Our proposal to increase shares can only wait until after the shareholders' meeting." After sitting down, Connor hurriedly Said.

"How did he acquire so many stocks? Hong Kong Electric didn't raise funds in the stock market on a large scale?" Niu Bijian said with a frown. The previous two acquisitions by Chen Zhiwen, one was that Hutchison was too bad, and the stock price fell for more than a year. No one cares about Chengxian shares, and Wharf has expanded its shares many times to raise funds for the construction of Harbor City, which gave Chen Zhiwen a chance.

"I thought about it carefully on the way here. It is very likely that in the past year, so many media in Hong Kong were using public opinion to block the increase in electricity prices. It is very likely that it was arranged by Chen Zhiwen. The power generation license is also the fake news they released." Connor said: "I suspected that someone was manipulating this matter before, but I thought it was just some interest groups in Hong Kong who refused to let the electricity price increase. Now it seems , is what Chen Zhiwen did in order to be able to acquire HK Electric shares for a long time."

"He Huang controls TVB, and so many Chinese newspapers are owned by Chen Zhiwen, it is not difficult for him to do this." Shen Bi nodded and said: "Plus, there are many people who support this matter, and Chen Zhiwen is also very happy. Easy to get."

"Let's talk about what to do now?" Niu Bijian changed the subject. In fact, last year HK Electric and CLP proposed an electricity price increase. Apart from their own power group, who else would agree? Even Jardine is not willing. Under the energy crisis, everyone's business has been damaged, and no one is happy to have another price increase. As for the losses of HK Electric and CLP, they don't care.

Shen Bi said: "In the current situation, we can only forcibly raise the stock price of HK Electric, so that Chen Zhiwen cannot acquire enough shares within ten days to exercise a veto power."

"Even if we can do it, Chen Zhiwen can convince some shareholders that the veto power only needs 33.4%, not the 50.1% of the controlling stake. The difficulty may not be high." Niu Bijian said with a frown.

"Then it's not like doing nothing, right? Even if Chen Zhiwen rejects Hongkong Land's shareholding plan, as long as the stock price is high enough, he will not dare to trigger a takeover offer, and he will not be able to obtain more than 35% of the shares. In this way, We will still have a chance in the future, at worst we will fall into a tug-of-war, as long as we have management rights, at least we will have a chance to turn around." Shen Bi said.

"Hurry up and decide. What I know is that the Galaxy Group has closed shares in the stock market. If it is later, we will be completely late." Connor said with a frown.

"Okay, I will immediately let Hongkong Land make public acquisitions in the stock market, and first raise the stock price." Niu Bijian finally decided that although HK Electric's management also has money, it is meaningless to buy them by themselves. The repurchased shares will still be bought by Chen Zhiwen. This major shareholder shares a part, and HSBC, as the central bank, can't end it. Only Jardine Land can personally take action, but in this way, it will be another head-on confrontation with Chen Zhiwen.

"I will allocate a part of the funds you need to you first." Shen Bi nodded and said, "I will also release news that the current management of Hongkong Electric is very capable. Due to the requirements of further cooperation, HSBC will release a sum of money in the future." About 1 billion Hong Kong dollars in low-interest loans to Hongkong Electric, you also have a lot of land under your banner? With the current land price and house price, if you develop it, it will be huge profits.

As long as HSBC expresses its support for you in the announcement, then I think stockholders will be more willing to maintain the current situation, which will also make it more difficult for Chen Zhiwen to gain support from stockholders. "

"That's how it is. As long as the stock price is raised enough, or we give the market enough hope, then many people will be in a wait-and-see state, which can at least delay Chen Zhiwen for a while." Connor nodded and said. Jardine Matheson came forward to drive up the stock price, causing Chen Zhiwen's acquisition cost to skyrocket, and HSBC came forward to give shareholders HK Electric hope for the future after maintaining the status quo. Both sides took action together to attack Chen Zhiwen.

"OK, if there is any further news, let's meet again." Niu Bijian nodded and said, he actually knew that he would suffer certain losses if he confronted Chen Zhiwen in the stock market, but doing business is risk and investment in itself. And this income is Hong Kong Electric, and if it can really succeed, it is still a good deal.

Early the next morning, Hong Kong Land Group publicly announced that it would join the acquisition plan of Hongkong Electric, and at the same time a large amount of funds entered the market, and Hongkong Electric's stock price rose accordingly. In the future, HSBC will increase its cooperation with Hong Kong Electric to assist Hong Kong Electric in developing its huge land in several prime locations on Hong Kong Island, and the funds involved will be as high as 1 billion Hong Kong dollars.

Hong Kong Electric Group also issued an announcement in a timely manner, thanking HSBC Group for its support. At the same time, it also announced that it plans to set up a separate subsidiary company for all the land under Hong Kong Electric Group, and prepares to go public in the future. Part of the funds obtained will be used for dividend feedback to shareholders, and the other part A joint venture with Hongkong Land to develop its real estate company.

When the news came from the three companies, the market immediately became lively. HK Electric’s stock soared by more than 6 Hong Kong dollars a share, and the market value of the entire HK Electric has exceeded 5 billion Hong Kong dollars.

Cheung Kong Industrial Headquarters:

"Li Sheng, come, drink tea. This is the Longjing tea I brought from China. It was given to me by an official from Guangdong Province. It tastes very good." Hu Yingxiang from Hehe Industrial said with a smile.

"You come to my place and still use your tea, but you turn your back on customers." Li Jiacheng laughed.

"I just came back from the Mainland, and I heard about the recent major events in Hong Kong, so I came to your side." Hu Yingxiang said with a smile: "Li Sheng, we discussed investing in expressways in the Mainland together before, but because of We want to cooperate with Hongkong Electric to develop its land, but now it seems that this project is not going well, should we think about it again?"

"Let's wait a little longer. It's hard to say what will happen to Hong Kong Electric this time, and their cooperation with Hongkong Land is actually just to raise the stock price and increase Chen Zhiwen's acquisition cost. Without the ability to develop these lands, Hongkong Land can’t even develop the land that used to be Milk International.” Li Jiacheng said after a pause.

Chen Zhiwen's sudden acquisition of HK Electric dealt an almost devastating blow to Li Ka-shing's plan, because it took him two years to slowly convince the senior management of HK Electric that he intends to cooperate with him and develop together Land owned by HK Electric.

As a listed company with a century-old history and a scale that ranks among the top ten in Hong Kong, Hong Kong Electric has been developing on Hong Kong Island and has so many high-quality lands that make people envious. The scale has doubled within three years, and at the same time, it still earns hundreds of millions of Hong Kong dollars.

Everything is developing according to Li Ka-shing’s script, but Chen Zhiwen suddenly launched an acquisition war against HK Electric. No matter whether the acquisition is successful or HK Electric introduces Hongkong Land, in fact he has no chance, but he doesn’t really want to invest in expressways. , so it was delayed.

"In the past few years, the Hong Kong stock market has been really interesting. The several consecutive big acquisitions are eye-opening. If this was ten years ago, it would be unimaginable for Chinese capital to acquire large British capital companies." Li Jiacheng's refusal , Hu Yingxiang didn't care too much, he didn't know how many people he asked, but they didn't agree, and there wasn't much more than one Li Jiacheng.

"It's just a one-man show. Those of us are not qualified for the time being." Li Jiacheng shook his head and said.

"Actually, it's okay. I know you also want to buy some British-funded companies. Just don't focus on those big companies. There are still many medium-sized British-funded companies in Hong Kong." Hu Yingxiang said with a smile.

"Forget it, I don't have any plans for the time being." Li Jiacheng shook his head and said, "The Hong Kong government has revised the rules for triggering acquisition offers. Now it is very difficult to acquire any company. The investment company has cooperated to develop the land.”

"That's not bad. Back then, when we developed land together, we couldn't find a good location at all. Now this method is very good." Hu Yingxiang nodded and said, among the five real estate tigers in Hong Kong, he and Li Jiacheng have a good relationship Yes, since the 1960s, the two of them have developed several projects together, and it can be said that they have grown together to where they are today.

"What about you? Are you really planning to invest so much money in domestic highways? Even if this kind of project does not lose money, it will take a long time to pay back." Li Jiacheng asked.

"Let's ask for something. Wealth has reached our level, and basically we can't spend it all. It's meaningless to pursue ten times and a hundred times of wealth. It's better to do what I want." Hu Yingxiang said with a smile.

"Everyone has their own needs, but if you want to invest in large-scale infrastructure in China, you might as well go to Chen Zhiwen. I heard that he also invested in some domestic factories last year. He has a good relationship with the mainland and has enough funds." Li Jiacheng said with a smile.

"I had this idea, but since he is busy buying Hongkong Electric, I'd better wait until the matter is over before looking for him." Hu Yingxiang said.

"That's fine. I guess Chen Zhiwen should be ready to make a move. Now that Jardine and HSBC are practicing against him, it depends on how he responds." Li Jiacheng nodded and said.

"That's right, Wharf before, this time it's HK Electric, if Chen Zhiwen wins again, the British capital in Hong Kong will no longer be hardened." Hu Yingxiang laughed.

The Wharf takeover battle can also be said to be a sneak attack that Chen Zhiwen has prepared for a long time in advance, but this time, the Hong Kong government has passed laws to protect British capital from being acquired. In this case, if HSBC and Jardine still lose, then the entire Times have changed in Hong Kong.