We're building a super chaebol in Hong Kong

"Mr. Newbigging, you've said so much, but I don't know what price you're offering? If the price is right, I might take it, after all, I'm not short of money right now. But if the price isn't attractive to me, I won't be interested. For me, Wharf has never been in my business plan," Su Cheng said, cutting to the chase and asking the price!

Now, two or three months ago, with the end of the Wharf battle, Wharf's stock price began to plummet.

Originally, when Bao Ship King and Jardine Matheson were competing for Wharf, the average price once rose to over HK$50, and the highest even reached HK$100 per share.

However, that was, after all, a false price, and the bubble was naturally very large. Wharf was not worth that value.

As Bao Ship King truly took over Wharf and became the new Taipan of Wharf, the Wharf incident finally came to an end.

The natural result of this was that Wharf's stock price began to fall, and it fell drastically.

After all, during the battle for control, the stock price had risen too high. After the winner was decided, it was impossible to continue paying such a high price.

Therefore, in just three months, Wharf's stock price had fallen from a peak of HK$100 per share to between HK$18 and HK$20 per share, a staggering drop of five times.

Six months ago, Tian Yuan Investment Company announced that it owned 23% of Wharf's shares. At that time, Wharf's stock price was only HK$21 per share.

Now, it has not only returned to the previous price, but is even lower than before, naturally due to the impact of the oil crisis.

Therefore, Wharf's stock price has been hovering between HK$18 and HK$20 per share.

This price is not considered very low for Wharf.

After all, the average purchase price of Wharf's shares held by Su Cheng was only about HK$15 per share.

"On behalf of Hongkong Land and Jardine Matheson, we are willing to sell our 29.87% stake in Wharf to Mr. Su at a price of HK$18 per share!" Obviously, Newbigging had already thought about this price, so when Su Cheng asked about the price, Newbigging said it directly.

"As far as I know, the current stock price of Wharf is only about HK$18 per share, right? You sell it to me at a price of HK$18, which doesn't seem like a preferential price at all," Su Cheng said.

"Mr. Su, in addition to the 10% of Wharf shares that we have always held, the cost price of the other nearly 20% of Wharf shares is almost HK$60 per share. Now that it has fallen to HK$18 per share, to be honest, we have already lost enough," Newbigging said with a wry smile.

"Mr. Newbigging, an average price of HK$60 per share was the price created by your competition with Mr. Bao, and it has nothing to do with the actual value of Wharf," Su Cheng said directly, shaking his head.

"That's what they say, but the true value of Wharf is not just HK$18 per share. Relevant professionals estimated at the beginning of this year that Wharf's market value is at least over HK$4 billion. Now, at HK$18 per share, the total market value is only about HK$2 billion, so it is very cost-effective for Mr. Su to buy Wharf's shares at this price," Newbigging continued.

"To be honest, I don't think it's cost-effective. Mr. Newbigging, please tell me, if calculated at HK$18 per share, how much money do I have to pay for the shares in your hands?" Su Cheng asked.

"We hold a total of 29.87%, totaling about HK$602 million. I can decide to erase 2 million, and Mr. Su only needs to pay HK$600 million to acquire all the Wharf shares in our hands!" Newbigging said directly.

"How about this, I'll acquire all the Wharf shares you hold for HK$500 million. If your Jardine Matheson Group is willing to sell, I'll take over, and the funds can be transferred to you immediately, without delaying your money!" Su Cheng thought for a while and said.

Several hundred million Hong Kong dollars may not be a large sum for Su Cheng today, but for the vast majority of companies in Hong Kong, it is a very large sum of money.

Even for Jardine Matheson, as one of the top ten listed companies in Hong Kong, 600 million in funds is still a considerable amount.

If they had this money, their situation would be much more comfortable.

This is also why Newbigging was so eager to find Su Cheng.

Moreover, we are now in the midst of the oil crisis, and no one knows what the real trend of the stock market will be.

Many Hong Kong businessmen even feel that this is the beginning of another bear market.

Because they had all experienced that dark history from 1973 to 1974.

The current situation is too similar to that time.

Therefore, Newbigging still wants to sell Wharf's shares as soon as possible before the stock market plummets.

Otherwise, if this bear market lasts for two or three years, Jardine Matheson Group will definitely be in trouble.

Although Jardine Matheson, as a British-funded consortium in Hong Kong, is a market maker and can usually easily control the direction of the stock market.

However, in the case of a global bear market, the Hong Kong stock market will also be greatly affected. At this time, the stock market is no longer under their control.

"HK$500 million, impossible, Mr. Su, we would lose too much. Even if I agree, the Jardine Matheson board of directors will not agree." Newbigging's reaction was very strong when he heard Su Cheng's words.

Hearing Su Cheng's tone, which did not even give him a chance to bargain, Newbigging was silent for a long time.

Although he knew that it was inevitable to be slaughtered when asking someone to acquire shares, he did not expect that Su Cheng would slaughter so fiercely!

Such an asking price was no longer something that he, as the Taipan, could decide, and required a vote by the entire board of directors.

However, given Jardine Matheson's current situation, even if there was a vote, it had to be passed, otherwise Jardine Matheson could only continue to sell properties at a loss.

"Mr. Su, I can't decide on this price. How about this, I will convene a board meeting as soon as possible, and I will notify you in time if there is any news." At this point, Newbigging was no longer in the mood to stay and continue chatting with Su Cheng.

He knew that even if the board of directors approved this condition, it would be another stain on his career.

As the Taipan of Jardine Matheson, he was naturally responsible for Jardine Matheson's poor management.

Newbigging's term as Taipan was also coming to an end, and with the development of the situation in this way, his idea of ​​continuing his term was basically difficult to realize.