Top of the big era

Alibaba is listed.

After a record ten rounds of inquiries, the issue price was set at $68.

This is a sky-high price.

The price-earnings ratio exceeded 100 times.

But even so, it was still welcomed by the market, and the stock price has been rising since the opening.

Boss Ma was very happy.

The issue went too smoothly. This IPO issued 1.49 additional shares, which can bring $10.1 billion in funds to Alibaba! Boss Ma will also cash out 12 million shares in this IPO, with a total value of $820 million!

Of course, there is also a hidden boss - Zhou Buqi.

He did not cash out personally.

The number of shares issued by the IPO is limited, so it is not his turn to cash out personally. Softbank did not cash out, nor did it get a share. Zhou Buqi and Masayoshi Son are both optimistic about Alibaba's future. Although the IPO is a very good opportunity for large-scale cashing out, the price is too low and can only be calculated based on the issue price of $68.

With Alibaba's current development momentum and the domestic e-commerce environment, maybe in two or three years, Alibaba's stock price will exceed $200!

If you are not in a hurry to use the money, you can cash it out later!

The 300 million shares issued to the secondary market this time are mainly Alibaba and Yahoo. Alibaba issued 149 million shares and obtained $10.1 billion in funds. Ziweixing International put 118 million shares into the market to activate the stock market and increase circulation, with a total value of $8 billion.

Because Ziweixing International still holds nearly 10% of Alibaba's shares, which is equivalent to Alibaba's related shares.

So due to the good news of Alibaba's listing, Ziweixing International's stock price also rose by 3.2% on the same day, and its market value reached $274.6 billion! It surpassed Microsoft's $271.3 billion and became the world's third largest technology giant in terms of market value after Apple and Google!

Ziweixing holds about 25% of Ziweixing International's shares, and there is also a related effect. The stock price also rose by 2%, and the market value reached $252.4 billion, ranking fifth in the world.

Alibaba was also very strong. The stock price rose by 38% on the same day and closed at $93.89.

The market value reached $231.4 billion!

Ranked sixth in the world, second only to Ziweixing.

It is ahead of Facebook with $202.3 billion and Amazon with $153 billion.

As for eBay, the original copycat of Taobao, it has long been left behind by Alibaba, with a market value of only $63 billion.

Among the traditional BAT giants, Penguin's market value is $150 billion, Baidu's market value is $70 billion, and Alibaba's market value is equivalent to the sum of Penguin and Baidu.

Although Alibaba failed to surpass Ziweixing to become the first in China, Alibaba's listing can be regarded as a great miracle.

It feels that Boss Ma has undergone a visible change.

His temperament seems to be much more majestic.

In the face of the flattery of beautiful women, he also refused.

There is also a grand banquet in the evening.

Zhou Buqi did not try to steal his limelight. He was invited by Carl Icahn to have dinner at his house.

Carl Icahn wanted to ask him for help with something, "You know about Coca-Cola?"

"What's the matter?"

Zhou Buqi likes to drink Coke, but he lacks attention to the company Coca-Cola.

Carl Icahn asked curiously: "Aren't you a shareholder of Coca-Cola?"

"Ah?" Zhou Buqi was slightly startled, "Am I?"

Carl Icahn said speechlessly: "Fangfei Capital, not you?"

"Yes."

"Fangfei Capital holds 0.52% of Coca-Cola's shares, only 20 basis points less than me."

"Is that so..."

Zhou Buqi knew it then.

He vaguely remembered that he had told Sister Zhen Yu that if you want to make some longer-term value investments, you can buy some stocks such as Coca-Cola and Pepsi.

It's just 0.5%, and the total value is only a few hundred million US dollars.

Not worth mentioning.

Senior Sister Zhen Yu didn't say it.

Carl Icahn said: "Coca-Cola is going to issue new shares worth 24 billion US dollars at a discount. Guess why? It's not to expand the production line and increase production, but to raise huge funds to reward the executive team with equity. This will not only dilute the company's stock value, but also seriously damage the interests of small and medium shareholders!"

"Is that so..."

Zhou Buqi remained calm.

It is really hard to make a casual judgment on such things.

Issuing new shares to management will indeed dilute the company's stock value and harm the interests of small and medium shareholders... because all the money of the company belongs to the shareholders, but now it has taken out shares worth a total of 24 billion US dollars and issued them to management.

It is equivalent to the "steward" kidnapping the "master" and then putting the master's money into his own pocket.

If this were placed in ancient times, the steward would betray the master and the servant would bully the master, and they would be beheaded.

But this is no longer the business logic of modern civilization.

Equity incentives are the most effective compensation strategy for modern companies and the key to stimulating long-term stock price growth. There are still a large number of companies in the world that have not introduced the concept of equity incentives, that is, they only pay salaries and bonuses to employees and executives, but no stocks. These companies are all traditional companies that lack growth without exception, and there are no real talents.

Carl Icahn said: "As the largest shareholder of Coca-Cola, Buffett did not oppose this new stock plan. He is inaction, he is a coward!"

"Does Buffett have some other considerations?"

Zhou Buqi doesn't think there is anything wrong with issuing options, because companies such as Ziweixing, Ziweixing International, Ziweixing Media, Changyou, PayPal, and Ziweixing Global have all adopted the option system.

Especially since he is returning to Silicon Valley tomorrow.

The main thing is to discuss Ziweixing International's new option plan. At least one new stock worth up to 40 billion US dollars will be issued as an option incentive plan for the next five years to reward all management and employees.

This is much bigger than Coca-Cola.

Moreover, the so-called new shares of US$24 billion and US$40 billion are actually just rhetoric.

This is an incentive mechanism, and you must meet corresponding standards in order to receive corresponding option rewards.

Zhou Buqi didn't know much about Coca-Cola's situation, but he had already seen the plan for Ziweixing International's option reward plan, and the requirements for meeting the standards were very stringent.

Only in the next five years, if the market value of Ziweixing International reaches US$1 trillion, can employees and executives receive the full US$40 billion in new stock awards. If the market value doubles to US$500 billion, only US$20 billion in new stock options can be obtained in the next five years.

The same is probably the case with Coca-Cola.

It does sound scary to issue $24 billion in new shares to reward management and employees. Maybe the conditions for reaching it are very harsh! Otherwise, how could the capital shareholders agree so easily?

Carl Icahn is an old-school investor who likes to get into trouble. "I have communicated with Buffett before, and he was originally unwilling to support such a compensation plan. He thought it was equivalent to issuing a 'lottery' to executives. Once he wins, They will get huge rewards. Unexpectedly, as the largest shareholder, he actually backed down and was afraid of standing against the management! "

Zhou Buqi said he understood, "After all, Buffett's relationship with Coca-Cola is too deep. If he has a conflict with the management, it will definitely lead to significant fluctuations in Coca-Cola's stock price. In the end, it will be Berkshire's performance that will be affected."

"What kind of reason is this?" Carl Icahn opened his eyes wide, obviously not agreeing with such an argument, "This hurts the rights and interests of small shareholders! This hurts our rights and interests! Of course Buffett can do it, the diluted share, just like Coca-Cola Some private transactions were made up. What should we do with the small shareholders?”

Zhou Buqi asked: "Has this been passed?"

"Well, it passed, and Buffett didn't vote against it."

"Then there's nothing we can do."

"No, there is a way!"

"ah?"

Zhou Buqi felt something was wrong.

Carl Icahn said solemnly: "We cooperate and unite a group of small shareholders to sue Coca-Cola's board of directors. They have harmed the interests of small shareholders!"

"No, no!"

Zhou Buqi was startled. He was not willing to participate in such a thing.

Carl Icahn looked at him, "If we join forces, there is a high probability that we can overturn the previous resolution!"

Zhou Buqi said: "Isn't that a break with Coca-Cola's management?"

"What happened to the breakup?" Carl Icahn didn't care. "We invest in Coca-Cola to make money, not to make friends with them!"

Zhou Buqi looked at him deeply and said, "Karl, I don't invest to make money. Some things are more important than making money."

"you!"

Carl Icahn was doubly disappointed.

I thought this guy was my old friend, and I even thought that after I retired, I would hand over the Icahn Fund, my life's hard work, to him to manage.

Now it seems that they are completely two people!

Zhou Buqi said: "I very much support this kind of option reward compensation plan, which represents the mainstream of future business. All the companies I control are adopting this compensation strategy without exception. Stock incentives must be It is far more effective than incentives such as bonuses and dividends, and the cost is lower! ”

Carl Icahn frowned, "Are you really not going to participate?"

Zhou Buqi said: "If it were me, I would vote in favor."

Carl Icahn said solemnly: "You are encouraging the worms in the company and ignoring them to eat away at the rights and interests of shareholders!"

"I don't think so." Zhou Buqi shook his head. "On the contrary, I am happy to see such a salary plan. This shows that Coca-Cola has matured and has transformed from a traditional beverage company into a modern company. Not only do I not On the contrary, I will support it.”

"support?"

"Yes, I think such a compensation package is a huge encouragement to Coca-Cola's future growth. I plan to further increase my holdings of Coca-Cola's shares. I see growth in them and I see the future."

"you!"

Carl Icahn nearly died.

Zhou Buqi did not hide it and said bluntly: "Maybe you are right, such a plan may damage the interests of small shareholders to a certain extent. But compared to the little interests that are damaged, I care more about them It can create more wealth for the company.”