Rebirth of Hong Kong’s Glorious Era

Chapter 126: strategy

Li Wansui said with a smile: "Don't worry, it is imperative for Bao Yugang to go ashore, and both Jardine have 30% of the stock. Bao Yugang and Jardine have similar shareholdings. The two bought at a low price before. I bought a lot of stocks, but the cost should be more than 30 yuan. It is estimated that Bao Yugang has spent almost 2 years and more than one billion in cash. How can he retreat now? This is his company's grand strategy. In a hurry, where did Bao Yugang find a company like Wharf that was suitable for his business development? And when Jardine got 49% of the shares, he didn't follow up, his 30% of the shares had no right to speak at all, and the living money became Dead money, does it pay dividends every year?"

These days, Li Wansui has already made up for his homework, and he is also righteous.

Bao Yugang is the first of the world's top ten ship kings. His biggest asset is a cargo ship. The source of income is the transportation of goods, and the transportation of oil is a large part. In the 1970s, there was an oil crisis in the world, and countries began to develop oil on their own soil. Bao Yugang foresees that his freight business will decline sharply in the future, so it is urgent to expand land business.

Wharf was established by Sir Standard Chartered in 1886, and initially its business was limited to warehouse operations. The area around Ocean Terminal in Tsim Sha Tsui was invested by Sir Standard Chartered and the government as a warehouse terminal more than 100 years ago. After 100 years of development, Wharf's business has also diversified, making every effort to develop the land in Tsim Sha Tsui as a commercial building. Such high-quality land in Tsim Sha Tsui is the trump card of Wharf's future development, and it is also the main reason for Sir Pao's acquisition.

In the early 1970s, Wharf issued a large number of new shares to cope with many large-scale acquisition projects and development plans. As a result, the shares held by the major shareholder Jardine's Landmark Company dropped by only a little more than 10%. The stock price is extremely low.

The major shareholders have low shareholdings, the target assets are excellent, and the stock price is low enough before the acquisition, and there is also a shipping-related warehousing business. With these four conditions, there is only one stock in the market, Wharf.

Don't look at the current stock price of 70, but Li Wansui knows that the stock price has skyrocketed in the past two days, but Jardine and Bao Yugang haven't bought much stock at the price of 50-70. It's not that they have no money, but they can't buy it if they have money. .

Wharf has risen from more than 12 yuan in 1978, and one has risen to about 50. This period is the stage of large-scale accumulation of funds by the two companies. It is like these days when rumors are flying all over the market, and retail investors are reluctant to sell, waiting for the outbreak. In the acquisition war, although the stock price rose fast, the transaction volume was not much, and the stock turnover rate was extremely low in the two days!

Jardine holds a 30% stake in Wharf, and Bao Yugang may be in the early 30s. The two shareholdings are very close. Li Wansui estimates that the holding costs of the two companies will only be more than 30 yuan.

Now Jardine has purchased 19% of the shares of Wharf with a stock and bonds of the equivalent of 100 yuan. The total share capital of Wharf is less than 100 million shares. After calculating, Jardine only needs to buy nearly 19 million shares, which is less than 1.9 billion. to complete the task.

Don't look at the current purchase price of Jardine He is 100 Hong Kong dollars per share, but its current shareholding cost is in the early 30s. According to the calculation of 35 Hong Kong dollars per share, the number of shares held by Jardine is about 30 million shares. The cost of 30% of the shares he currently holds is only 1.05 billion, plus 19% of the shares acquired for 100 yuan per share, holding 49% of the shares, the cost is only 2.95 billion.

You must know that the land and fixed assets of Wharf are also worth more than 5 billion yuan. An acquisition war broke out. Although the stock price has risen to 100 yuan, the market value per share is 10 billion yuan, but if the acquisition plan of Jardine goes smoothly, there will be no premium acquisition! Also earned paper wealth in market value.

For the same reason, Bao Yugang's more than 30% share cost is similar to that of Jardine. Where will you withdraw from the competition because it is less than 2 billion?

It's a takeover war! Buying Wharf at a high price is a big win, how can Bao Yugang give up?

Besides, Li Wansui came from across the country, how could he not know that Bao Yugang won the final battle for Wharf?

He paused and continued: "Ah Tian, ​​there is something I don't quite understand, tell me why it is enough for Jardine to acquire only 49% of the shares? Instead of acquiring 51% of the shares, this is not the case. more secure?"

When watching TV dramas, Li Wansui often buys 51% of the shares to achieve full control. He is very puzzled that Jardine only submitted to buy 49% of the shares.

Wei Tian was relieved after listening to Li Wansui's analysis. He was a little busy just now because of the 100-dollar chips. Li Wansui's reasoning can be understood by himself on weekdays. He secretly sighed that he was more nervous than Li Wansui even if he was not a client, and some reflected on his own lack of tranquility.

Hearing his question, he quickly said: "That's right, Jardine has two purposes for this move. The first is to avoid the current "Acquisition and Cooperation Code" stipulated by Heung Kong Company, which requires a full acquisition of 50% or more of the equity. The second is because Wharf is a listed company, and owning 49% is considered a "stable position", unless the opponent can completely buy the rest of the shares, it will have the opportunity to overwhelm, but then the opponent will have to fully acquire it."

Li Wansui nodded. He felt that his knowledge reserve was not sufficient. He usually had time to work on it. He was not aware of government-issued documents such as the "Acquisition and Cooperation Code".

Said: "Let's go, Ah Tian, ​​go to the Wharf!"

Wei Tian laughed and said, "Brother Sui, are you waiting for news? I think Bao Yugang will respond immediately!"

"Haha, of course not, I'm going to make friends with Sir Bao Yugang and leave a deep impression on him!" Li Wansui shook his head and smiled.

Bao Yugang, named Ran, is a native of Ningbo, Zhejiang. The world's popular Chinese ship king. He entered Shanghai Zhongxing School in his early years, and later entered Wusong Merchant Shipping College. In 1937, he dropped out of school and worked in the Hengyang Office of the Central Trust Bureau, as the deputy manager of the Hengyang branch of the Industrial and Commercial Bank of China, and soon became the manager of the Chongqing branch of the Industrial and Commercial Bank of China. After the victory of the Anti-Japanese War, he was changed to the manager of the Shanghai Banking Department, and in 1946 he was appointed as the deputy general manager and manager of the business department.

At the beginning of 1949, he went to Hong Kong and established a joint venture with others to set up a Chinese bank, operating import trade, and shipping imported steel, cotton, medicines and other scarce materials for the mainland. In 1955, Global Co., Ltd. was established to operate coal transportation from India to Japan. In the following year, Egypt took back the Suez Canal as state-owned, and the freight rate rose sharply. Following the cooperation with the Japanese shipbuilding industry, the financial industry, and the Hong Kong HSBC Bank, it has gradually become a voice in the shipping industry. In 1967, the fleet was expanded during the oil crisis in the Middle East war. In 1970, it was changed to Global Shipping Group Co., Ltd., and in 1972, Global International Finance Co., Ltd. was established and served as chairman of the board of directors.

In 1978, Bao Yugang's maritime kingdom reached its peak, sitting firmly on the top of the world's top ten ship kings and one of the top ten consortiums in Hong Kong. It owns 210 ships, with a total deadweight tonnage of 21 million tons, which is the leader of the pack. The US magazines "Fortune" and "Newsweek" refer to him as "the ruler of the sea" and "the king of the sea"

Li Wansui came to the building of Global Shipping Group Co., Ltd. with a feeling that he could not explain clearly. Looking at the W logo hanging high, he also had a kind of admiration in his heart. The old gentleman who I want to see today can It is said to be a living legend. In 1978, the old man went north as a private person, received a grand courtesy in Beijing, and was received by the head of state at that time.

According to the understanding of Li Wansui's descendants, this Hong Kong tycoon has his motherland in his heart, and he never hesitates to donate money and materials. What is even more commendable is that the old man deeply understands the truth that it is better to teach a man to fish than to give him a fish. He took the lead in ordering a sailboat made in China in There are 27,000-ton and 36,000-ton cargo ships in the global seas. At the naming ceremony for the delivery and launching of these new ships, he invited the British Prime Minister Margaret Thatcher, the former Philippine President's wife, the Brazilian President's wife, and the former Japanese Prime Minister Mrs. Ohira Masahiro to preside over the naming ceremony for the development of China's shipbuilding industry towards the world. , made an indelible contribution.

Years after his death, mainland officials are holding events to commemorate the old gentleman, so you can imagine what kind of person Bao always is.

The current status of Li Chaoren in later generations in Hong Kong is far inferior to that of Bao Yugang, the richest man in Hong Kong.

Li Wansui sorted out his mood and let go of his distracting thoughts. He came here today for business, not for anything else. In business and business, talking about things with the mood of meeting great people, he would definitely suffer.

He walked into the door of Universal Shipping Group Co., Ltd., and said to the little girl at the front desk: "Please help to make an appointment for Mr. Bao, saying that Li Wansui is visiting, and when he is done, Wan Wang can meet me once, as for the visit. Purpose, say I hold a 0.4% stake in Wharf."

Now the news of Jardine's 100 HKD equivalent of debt and shares to buy Wharf shares has long been spread within the shipping company. The atmosphere is a bit tense. Everyone knows that the big boss of his company is the other side of the competition. The little girl nodded, not daring to neglect Li Wansui at all, made a phone call, then brought him a cup of coffee, led him to the lounge, and said, "Sir, Mr. Bao is in a meeting, he hopes you can wait a while. ? After he has dealt with things, he will talk to you in person!"

Li Wansui nodded with a smile: "I understand Bao Lao very well during this extraordinary period. It doesn't matter. I'll do it myself. You can do your work. I'm very patient."

Now Bao Yugang is 99% in a meeting to discuss how to deal with Jardine's ultimate move, so he must be very busy.

Li Wansui is not in a hurry at all. At this critical period of equity competition, although his own 0.4% is small, the number of shares held by both parties is about the same. It can be said that everyone has the possibility to win, and they all want to reach 49% first, so Surely you will not neglect yourself. For example, when two teams compete for the league championship in a football match, both teams want to get the crucial 3 points. When they meet, the media will declare that "this is a game worth six points". The opponent got 3 points, and he got 3 points less, isn't it worth 6 points!

Similarly ~lightnovelpub.net~ If you look at the 0.4% stock in this way, Li Wansui can also claim that this is a 0.8% stock battle.

During this critical period, small shareholders with names and surnames have long been standing in line. Even if there is no standing line, the two companies are also arranging personnel to closely follow up. In the end, both parties can get a certain amount of stock. The only variable is the hands of retail investors. stocks to see who can compete for more. Suddenly, a big retail investor, Li Wansui, who holds 0.4% of the stock, appeared.

How can a cautious and shrewd businessman like Bao Yugang not pay attention to the multi-billion-dollar business and corporate strategy? Can he still not understand the truth of missing a thousand miles?

Not to mention meeting, Li Wansui made some other requests, such as investing hundreds of thousands of shares in his leather bag company, if it was not too much, would Bao Yugang agree?

This 0.4% stake is the confidence of Li Wansui. Although the identities of the two are very different, one is a small university teacher and actor, and the other is a super tycoon in Xiangjiang, but the shares are in hand, Li Wansui put forward some small conditions, it is just a small effort for Bao Yugang, sure Do not take it to heart!

He had already figured this out, so in Japan, he bragged wildly! It's just that I didn't expect this competition to happen so early!