The Industrial Giant Reborn

CLP and Grand Hotel are currently in a mess, but because they will increase their shares at the price before the acquisition, three days later, the two companies officially announced that they will conduct a targeted increase in shares of Galaxy Investment Group, a subsidiary of Galaxy Holdings. The former Will become the major shareholder of the two companies, holding 16% of the shares, and have commissioners to join the board of directors of the two companies, with 20% of the voting rights.

At this point, the whole of Hong Kong also knows that the person behind the fluctuations in the stock market in the past two months is Chen Zhiwen. He did not directly take action, but arranged for the other two to confront the Kadoorie family repeatedly, forcefully forcing their family out of Hong Kong , gave up two top listed companies in Hong Kong.

Many people complained about this, and believed that Chen Zhiwen should no longer be the major shareholder of CLP under the condition of controlling HK Electric, which would form a certain monopoly. However, the Hong Kong government has never stipulated that public facilities companies cannot have Interrelated shareholders, after all, with a history of hundreds of years, it would be great if such companies with conflicting interests could not confront each other. Who would have thought that what would happen today.

Chen Zhiwen actually doesn't care about outside comments anymore. When his social status and influence have reached today's scale, any action will attract a lot of attention, and it will naturally cause dissatisfaction among some people, especially some people, who always hope to take advantage of it. Do something famous to increase your exposure.

Although they did not get the biggest benefit from CLP and Grand Hotel, they are almost half of Bao Yugang and Guo Henian. After all, limited by the current laws in Hong Kong, the two of them can only hold 34.9% of the shares at present. But how to put it, these two also spent a huge amount of capital investment. Guo Henian and the Kadoorie family burned hundreds of millions of dollars in the stock market, while Bao Yugang bought stocks at a high price by "cutting the mess quickly". Same, spent more than 1 billion Hong Kong dollars.

Compared with the investment of these two, I have much less.

Time soon arrived in October, and the Hong Kong stock market has begun to calm down from the previous acquisition war, but the overall trend is still rising. The benefits of high housing prices are that all consumption has increased on a large scale, and people have absolute confidence in the future. confidence.

The listing of Hengyi Group has also entered the countdown.

As early as a few months ago, Chen Tianfu released the news that Hengyi Real Estate Group was preparing to go public. However, if it went public, it would definitely need to transfer some of its stocks before going public, and the share was quite a lot. After all, according to Hong Kong's current Listing regulations, the highest shareholding of a single listed company is 34.9%, which can reach 40% after two years of holding shares. Newly listed companies also need to abide by this regulation, but a buffer period is given, that is, within six months after listing. As required by law.

But even if there is a buffer period of half a year, it is impossible to wait until the listing before cashing out on a large scale.

People in the industry naturally knew about Hengyi's achievements in Hong Kong's real estate market in recent years. However, when Hengyi announced its results for the first half of 1980, many people were jealous.

Relying on the relationship with Hutchison and Wharf, Hengyi can cooperate in the development of joint land at a preferential price without high land costs. He has cooperated with the subway company for a long time, and the income in this area is even greater. In addition, Hengyi has Chen Zhiwen as his back, so the cost of financing and borrowing in the financial market is much lower.

The cost of bank loans, one is interest, and the other is the process of obtaining a loan. It is also a loan of 100 million Hong Kong dollars. A person like Chen Zhiwen can borrow it in one sentence, and may not even need collateral, because "Chen Zhiwen" these three A word is far more than this price, but for a medium-sized company, the energy, favor, and resource investment will be very large, and the turnover efficiency will be much lower.

Heng Yi's advantage in this area can be said to be the number one in Hong Kong, even stronger than Jardine Matheson. After all, Chen Zhiwen's business in Hong Kong basically does not take loans, and major overseas investments do not require Hong Kong banks. Hong Kong banks can cooperate with Heng Yi In fact, cooperation with justice has always been an indirect model. Who would worry about Chen Zhiwen's father not being able to repay the loan? Therefore, as long as Hengyi is willing to borrow, the bank is willing to lend. Although Hengyi itself will control the loan amount and will not expand infinitely, the cost is much smaller.

With various advantages, Hengyi's net profit in the first half of the year was as high as 172 million Hong Kong dollars, and the cash funds in hand were as high as 870 million Hong Kong dollars.

"Dad, did you transfer 1 billion Hong Kong dollars?" Chen Zhiwen asked after seeing Heng Yi's financial information.

Naturally, Hengyi’s normal business would not have such a high profit. The reason why there would have been more than one billion Hong Kong dollars was because when investing in gold futures, Hengyi’s funds were also used, and then three times the amount was returned to Hengyi .

"Yes, Hengyi is not short of money now. According to your plan, you will start cashing out next year, and the cash flow in your hands will be even greater, so I deliberately transferred 1 billion Hong Kong dollars in advance, which is what you earned from overseas. Profit. It will be used as my personal investment in the future." Chen Tianfu said.

"That's fine. It's not necessary to list all the assets together. Hedging will reduce the risk." Chen Zhiwen nodded and said. If you have a large sum of money, there will be many good opportunities to invest in the future. After all, after being listed, some assets in name do not belong to individuals. It will be much more convenient to have a large sum of cash in your hands. Li Jiacheng of later generations often does this To play, use your own listed company project, cooperate with your own wholly-owned company, and then give most of the profits to your own company, and eat a lot of fat.

Of course, Hengyi doesn't have to be so ugly, but it's always more convenient to have a sum of money of his own.

"I'm going to bring in some Chinese real estate companies in Hong Kong. Cheung Kong, Hehe Industrial, Sun Hung Kai, New World, Hang Lung Properties, Great Eagle Properties, etc., each of them has about 1% to 2% of the shares, depending on their wishes. You Find a way to open a leather bag company here, and you can hold shares from overseas, and I can give you about 10%." Chen Tianfu continued.

Listed companies in Hong Kong have no restrictions on shareholders. Anyone can be a shareholder, but the rules for triggering a takeover offer are relatively strict. People from the same family must be considered as a main body. Therefore, if Chen Zhiwen wants to get a share, he can Some special means are required, but such means are also limited. In a listed company, most shareholders still need to announce it. Therefore, as a way to hide their identities, they will not hold too many shares.

"Let's add two more people, the richest man in Malaysia, Guo Henian, and the shipping king, Bao Yugang. If they want, they can also give some shares." Chen Zhiwen said, the stock split before listing is necessary. If this is the case, it is better to For one's allies, it was sold for money anyway.

"Okay." Chen Tianfu naturally knows the relationship between his son and these people, and he also knows about the Taishan Club, but he and Chen Zhiwen belong to the same family, so there is no need to join. When there is a suitable investment, if you If there is funds, his son will bring him along. Besides, the real best investment must be participated by the Chen family themselves. Only those who are at a lower level or need other people's resources to invest will join other people's joint ventures.

"How much is the price?" Chen Zhiwen asked curiously.

"Referring to Bill Winter's opinion, he means that the entire Hengyi is divided into 800 million shares, each share is 5 Hong Kong dollars, and the total value before listing is 4 billion Hong Kong dollars. Do you think it is too high?" Chen Tianfu said. Listing in Hong Kong does not require large-scale roadshows like Europe and the United States. After all, it is only a small city, and the funds it attracts are also limited. However, it is still necessary to find a professional bank. The relationship between the entire Chen family and HSBC is not very good. Standard Chartered Naturally, it was the best choice. During this period of time, the Taipan of Standard Chartered has been busy with Hengyi's listing. He opened up many procedures and contacts, which saved Hengyi a lot of time and energy.

"Not high. Hengyi only has HK$870 million in cash, and half-year net profit of 170 million. If calculated in this way, the price-earnings ratio is only about 10 times. It is far inferior to many real estate companies today. However, the only weakness is that they do not collect a lot of rent. Real estate, this is much worse than other real estate companies, because their own capital accumulation is relatively poor." Chen Zhiwen thought for a while and said.

Even Chen Songqing, who plays financial numbers games, can speculate his own stock to billions of Hong Kong dollars, not to mention that he has a large cash reserve, high-quality projects, and his constant capital as the capital behind it, 4 billion, but It's just a starting point.

"After all, the development of Hengyi has only been in the past few years. It is really not good to own the property, otherwise, our valuation will be higher." Chen Tianfu nodded and said. Although Hengyi has existed for more than 20 years, it has developed rapidly. , that is, in recent years, most of them still rely on their sons to hold their own properties. Not to mention the traditional British-owned real estate giant Landmark Swire, even Chinese-owned real estate companies are far behind. For example, Cheung Kong Holdings owns A large number of land properties, although all in the countryside.

"This listing, the whole Hengyi is indeed relatively empty, but through this listing, you can also get a lot of funds, and many projects will expire next year. When the time comes, Dad, the funds in your hands are estimated to be no less than 2 billion Hong Kong dollars. With these funds, it is the biggest capital, as long as the real estate crisis breaks out, hunting for the bottom at that time can make Heng Yi the largest property company in Hong Kong very quickly." Chen Zhiwen said with a smile.

"That's my plan too. As long as this step is done right, after that, the whole of Hong Kong, except for those companies under your umbrella, who can surpass Hengyi, will be landed, and Swire Properties will not be able to." Chen Tianfu is confident Said full.

In the case of predicting problems in the real estate crisis in advance, make sufficient preparations, first go public and raise a large amount of funds, and then gradually terminate the project. As long as the prediction is accurate, then when the bottom is bought later, the assets can be easily doubled several times. Hengyi itself The scale of the company is not low, but it lacks a large number of self-owned properties, and this opportunity is enough to make up for the shortcomings, but it may be much worse than the British giant Landmark, which has developed for hundreds of years.

"Hong Kong Land, Dad, maybe you can try to buy it at that time." Chen Zhiwen said with a smile.

"Really? Are you going to fight against him?" Chen Tianfu was not surprised at all. With his son's achievements, it is normal for him to attack against him.

"Yes, but we have to wait. In the whole of Hong Kong, there are actually not many worthy of my attack. I can't really take care of any assets I like. Otherwise, it may cause negative effects if I go too far." Chen Zhiwen continued Said.

Since Hutchison, Chen Zhiwen has acquired three large companies in Hong Kong, all of which can be said to be at the giant level. There are actually some other good companies, but he doesn't care too much. There is no need to acquire everything. If Guo Henian did not participate Come in, the Kadoorie family will not lose their two core assets.

However, he will not let go of very high-quality ones, and Hongkong Land is the most high-quality company.

"Of course. Recently, Landmark Land seems to be preparing to do a big job after being bound to the Jardine Stock Exchange. A few days ago, in a subway property auction, Landmark Land beat everyone and beat everyone. A piece of subway property land has been stretched to 20,000 Hong Kong dollars per foot, which is simply crazy." Chen Tianfu shook his head and said.

"Let it continue to be crazy, let's not be crazy, we really don't have a chance." Chen Zhiwen said with a smile.

This kind of large-scale real estate company with extremely high asset value and high rental income, if there is no serious problem with funds, no outsider will have the opportunity to start it, even if Chen Zhiwen has much more funds than Landmark, it is impossible It is unlikely to succeed, and it is only possible when the other party has serious problems and has huge debts.