Chapter 478 478 Liquidation of the acquisition of U.S. Commercial Bank

   Soon the Dow Jones Index rushed to the 9012 position and stopped, and finally the Dow Jones Index closed at the 9,000 position.

  The No. 1 fund has a floating profit of 1100 points on the book, a floating profit of 5.5 billion U.S. dollars, and the net value of the account is as high as 11.3 billion U.S. dollars.

  Wang Guanxi couldn’t help but said: “Today the Dow Jones Index is soaring!”

  Wu Zhanhai said excitedly: "BOSS, it must be the retreat of Soros and others, and the large-scale closing of the short list was caused."

  Wu Hongsheng also echoed: "This time Soros and others are finally forced to liquidate their positions."

  Li Guangyu smiled: "They closed the short list of more than 400,000 hands at least, so the Dow Jones index rushed to the 9,000 position."

  Wang Guanxi smiled faintly: "Soros, Feld, and Milos Messi have retreated, but they still left the field profitably."

  Lu Jianyan said: "Soros and the others left the game at a profit, and Wells is out of luck. He is about to die."

  Guan Zhenyi: "Wells should be about to liquidate our position, and we will close our position by then"

  Lin Jiyang also echoed: “Yes, now I’m waiting for Wells to liquidate”

  Wang Guanxi nodded: "I hope the Dow Jones Index will continue to skyrocket. This time I can make a profit of 6 billion US dollars."

  At present, Wang Guanxi’s No. 1 Fund has a debt of 5.5 billion U.S. dollars, and No. 2 Fund has a debt of 1.2 billion U.S. dollars. The total debt is 6.7 billion U.S. dollars. After making money this time, he intends to pay it off directly.

  Stephen Steinau asked: "BOSS, Wells must be short of money now. Are we going to contact Wells now to discuss the acquisition of a US-made commercial bank?"

  Alan Fishman also said: "Wells is probably about to liquidate his position soon, and he is also anxious to sell the stocks of American-made banks."

  Wang Guanxi thought for a while and said; “Call Wells right away and say that we plan to acquire his equity in the U.S. Commercial Bank.”

  "Yes, BOSS" So Alan Fishman went to contact a president of the American Bank, and then he contacted Wells.

   But Wells gracefully refused.

  "BOSS, Wells said that for the time being, he does not intend to sell the shares of American-made commercial banks."

  Wang Guanxi shook his head: "Forget it, when we go to buy other banks in New York, we don't have to be a commercial bank in the United States."

   "Wait for Wells to liquidate his position!"

   "Yes, BOSS"

  At this moment, the American Commercial Bank and Wells are also in deep entanglement.

  The former chairman of Fifth Third Bank, Alan Fishman, called him and said that he was going to buy U.S. Commercial Bank. He wanted to sell it, but he was reluctant to bear it.

  But I need money now.

  His account is about to be liquidated.

  But he still has hope, although it is a fluke.

  Because the 9000 position is a huge resistance area, wait for the Dow Jones Index to break through this position.

"Ugh!"

   "It's over this time!"

  He has a heavy head and a cold sweat on his back.

  Thinking about it, he deliberately borrowed hundreds of millions of dollars to replenish the available funds in the account.

   After the weekend, on July 20, the financial market opened.

  Dow Jones is still up.

   However, it only rose by 50 points that day and rushed to the 9050 position.

  He holds 600,000 long positions in his account. He opened a position at 8250, with a floating loss of 800 points, and a total floating loss of US$4.8 billion.

  On July 21, the Dow Jones Index broke through the 9100 position and rushed all the way to the 9150 position before closing

  900 points floating loss on the book, a total floating loss of 5.4 billion US dollars

  Wells is about to sell out.

"Ruined!"

   "I'm really finished"

   "Oh, I should start to close the position, and slowly close all the short orders!"

  At this time, the phone rang. It was Alan Fishman, the chairman of Fifth Third Bank, and said that it was the acquisition of American Commercial Bank.

Wells also knew that Alan Fishman’s boss was long on the Dow Jones Index and held a large number of long positions in the Dow Jones Index, so he made a request to buy a US-based commercial bank, and that was when he closed the Dow Jones index short list. , Wang Guanxi also closed the long list of the Dow Jones Index.

  And Wang Guanxi negotiated with Wells.

   "Mr. Wells, I promise you that it is also possible. Our purchase price of US-made commercial banks is only based on today's closing price!"

  Wells also agreed and said: "Mr. Wang, the market price is no problem!"

  So everyone drew up an equity agreement, then signed it, and after the Dow Jones index closed out, the funds were paid.

  Then on July 22, Wells began to close the short list on the Dow Jones Index, and Wang Guanxi also closed the long list on the Dow Jones Index.

  The two sides closed their positions for two days. During the period, many short positions entered the market and short positions, or short-term long positions were closed. The Dow Jones index is relatively weak.

  In the end, Wells's position was at 9150, with a loss of $5.4 billion.

  Wang Guanxi's No. 1 fund has an average position of 9145 to close its position, earning 1,245 points and gaining $6.225 billion.

  Wang Guanxi immediately took out 25 million US dollars as a bonus for the horses.

  This time, the net profit is 6.2 billion US dollars, and the net value of the No. 1 Fund account is as high as 12 billion US dollars.

  The agreed purchase price of the American Commercial Bank is $55 per share, and the total equity of the American Commercial Bank is 130 million shares, with a market value of 7.15 billion U.S. dollars.

  Wells holds a 40% stake in American Commercial Bank, valued at US$2.86 billion.

  So Wang Guanxi paid US$2.86 billion to Wells and obtained a 40% stake in the U.S. Commercial Bank.

  Then spent 840 million U.S. dollars on the market to acquire 10% of the shares of U.S.-based commercial banks, and spent a total of 2.7 billion U.S. dollars to control 50% of U.S.-based commercial banks.

  The American Commercial Bank was established in 1856 and is headquartered in Buffalo, New York. It is responsible for providing commercial and retail banking services to individuals, businesses, other businesses and institutions.

  Operating about 700 branches and 2,000 ATMs.

  These branches are located in New York, Maryland, Pennsylvania, Washington, District of Columbia, Virginia, West Virginia and Delaware.

  Currently, the total assets of U.S. commercial banks are 65.816 billion U.S. dollars, total liabilities are 59.03 billion U.S. dollars, and net assets are 6.885 billion U.S. dollars.

  The acquisition of American Commercial Bank made Wang Guanxi very satisfied, because it made up for the weakness of Wang Guanxi’s banking system in the eastern states of the United States.

  And Ryan John, chief executive of the American Bank, also personally came to Glens, Ohio.

  Ryan John has served as Chief Financial Officer since 2005.

  In 2006, he served as Executive Vice President of the American Commercial Bank,

  Since 2007, he has served as director, and in 2009, he has served as chief executive officer.

  His performance is outstanding, Wang Guanxi directly let him serve as chairman and CEO.

  Ryan John asked: "BOSS, I plan to buy a small bank"

  Wang Guanxi nodded: "Go and buy. From now on, Huntington Bank, Fifth Third Bank, Silicon Valley Bank, East West Bank, Bank of Hawaii, and U.S. Commercial Banks must cooperate with each other, compete with each other, and temporarily not merge."

   "Yes, BOSS!"

  (End of this chapter)