The project in Guangzhou can be solved through equity raising and debt. This has been approved by the executive committee. Cheng Dong himself is very supportive of this. A large number of people with a financial background have been dissatisfied with their demands because they do not have professional counterparts to do business. Depressed. [No pop-up novel website] With the Big World project, in the future, we can retreat to the stock market and draw blood from Guangzhou continuously.
However, the executive committee has some concerns about whether the establishment of a joint-stock system will cause the loss of corporate equity. Although **o Shipping and Runshitang Pharmaceutical are both joint-stock enterprises open to indigenous people, the sources of Sī shares still come from naturalized people and collaborators "within the system." The Guangzhou Great World project is entirely a public offering. The sources of shareholders are complex, and some people have great concerns about whether open stock offerings will involve future interests and hinder social transformation.
"When we officially rule Guangdong, we will inevitably carry out a major purge of the original gentry class, completely eradicating it from body to spirit! But now this kind of stock offering is essentially selling them a gold medal to avoid death." Du Shou said at the meeting He strongly criticized this, "I find it strange that our system, which is based on a planned economy, would engage in such crooked ways of capitalism..."
Qian Shuiting banged the hammer and said, "Please focus on the topic and don't involve irrelevant content."
Although Du Shou was not popular in the Senate on weekdays, her words touched the hearts of many senators. There are many elders who believe that Ming Dynasty’s vested interest groups should not be too closely associated with each other.
For this reason, Chen Ce, director of the policy department of Delong Bank, came out to defend the case. In fact, he is not only the director of the policy department of the bank, but also the head of the policy planning department of the entire finance department.
, "I would like to remind you all veteran comrades that whether it is a public offering or a corporate bond, it is essentially "providing financial services for the development of the enterprise." I think you will understand the meaning of my words." Chen Ce said calmly, "Want to control the board of directors by buying stocks, and ultimately gain the right to speak or even control the management of a company? This kind of thing can only happen in what Mr. Du calls a decadent capitalist country. It never happened in the old time and space. Of course it won't happen in this time and space. We are the major shareholders after all."
Some of the elders and elders had a look of "sudden realization" on their faces. Some people didn't quite understand and continued to wait for him to continue.
, "Big companies and large companies do not mean they have to pay dividends." Chen Ce began to speak more clearly, "Besides, we can set up a separate holding company for stocks. Why, you never read the financial edition in the old time and space?"
But Chen Ce’s concept is not entirely feasible. Obtaining profits from speculation will inevitably require a relatively standardized stock trading market. However, there are currently no conditions for establishing a stock market in Guangdong. The 1st Institute of Planning and the Ministry of Finance are also not in favor of the immediate promotion of these financial methods of this time and space. Ming Dynasty people have a good understanding of the concept of shares, but they are not as profound as making money by buying and selling stocks. Their only concept of investing in stocks is to pay dividends when they make money. It is probably difficult for the Big World Project to say that it is losing money all day long.
After repeated discussions, the bosses of Wudaokou Tea House reached a consensus: instead of engaging in the stock market for the time being, the Big World Project could raise shares from the public and issue corporate bonds - with corporate bonds as the main source of funds.
In order to obtain the working capital for construction as soon as possible, Guo Yi started working immediately after receiving formal approval. He and Meng Xian discussed how to actually handle this matter.
, "Okay, tell me how much you want first, and how much it will cost now." Meng Xian rubbed his chin. His beard had been shaved long ago because he didn't look like a gentleman. , but he still kept this action unconsciously.
, "You know exactly how much money I have." Guo Yi said dissatisfied. According to financial regulations,
All capital flows at the Guangzhou Station are now from the account of Delong Guangzhou Branch.
"It's different. Although I know your accounts clearly, it's money for the entire Guangzhou station, not investment in the Big World project. This money can't be mixed."
, "The allocation given to me by Cheng Dong is thirty-five thousand taels. It is all the property and personal compensation given to us by Guangdong." Guo Yi whispered, "This money is now allocated to the Big World Project Team." "
But this money will not only be used for the Big World project, but also to pay for various repair costs for Zizihao to reopen. This amount of money would cost tens of thousands of silver. The money left for the Big World project is just over 20,000 taels.
, "Twenty thousand taels is not too small." Meng Xian commented.
Not too little, but not too much in terms of the expenses below.
The Planning Institute gave a rough estimate table. The entire Big World project, including the early building materials project, will cost about seven to eighty thousand taels of silver to complete, including all equipment and personnel.
Meng Xian said: "We will calculate based on the price of 100,000 taels. It is right to raise more."
With the operating capabilities of Guangzhou Station, making 80,000 taels is not a big problem. However, most of Guangzhou Station's income must pay for a huge amount of imported goods. This is a plan that has been arranged by the Planning Institute and cannot be changed at will.
, "I'll set up an underwriting group." Meng Xian said, "Contact several large banks in the city to contract for sales."
In this way, you can get 80,000 taels of silver immediately without having to count small coins every day and wait to collect the money. "He looked around. "Besides, you don't look very professional selling stocks and bonds in a store."
There are two types of securities in the bank. One is the stock of the Great World Project. Each share of Kuping Silver is seven cents and two cents, which is equivalent to one yuan of tradable notes. There is no agreement on stock income, and dividends will be distributed on a per-share basis every year based on the operation and profit status of the Guangzhou Great World Project. If the management is not good, there will be no or less points. The other is the bonds of the Great World Project. Each bond is seven cents and two cents of Kuping silver. The bonds have a three-year term and carry an annual interest rate of two cents. Compound interest is not included and the principal and interest are repaid once upon maturity.
All stocks and bonds are “unregistered” and cannot be reported as lost. This is equivalent to recognizing that stocks and bonds can be transferred instantly. To prepare for the establishment of stock and bond markets in the future, the European stock market was originally bought between four people in a cafe. Just for sale.
So the Guangzhou Branch took the lead and contacted six other major banks in Guangzhou to amortize the stocks and bonds of the 100,000 taels. Meng Xian was the first to subscribe for 20,000 taels. Zizihao's financial resources, and the Australians' Due to his strength and Meng Xian's unhesitating subscription, all the banks quickly amortized the 100,000 taels without hesitation.
The news that Zizihao was raising shares through the bank immediately caused a great sensation among the officials. Who didn't know that Guo Dongzhu's property was making a lot of money every day, and many people were struggling to deposit the money from the fourth house in Zizihao's cabinet. There are actually shares available to buy now! Buying shares is like raising a goose that can lay golden eggs! All the officials up and down were eager to look at the money they had accumulated for many years.
With officials so enthusiastic, ordinary people are naturally not far behind. The wealthy gentry families who usually had connections with the government were well-informed and got the news. People were sent to the underwriting bank to say hello in advance and reserve the number to be purchased. However, Meng Xian engaged in starvation sales this time. He tightly grasped the formality of subscription letters and only gave each underwriter half of the number of subscription letters underwritten. The remainder are ready for public sale.
One thing that became obvious was that a black market for subscription books immediately formed. A subscription letter that can buy 500 shares only costs 100 taels at Delong Guangzhou Branch. On the black market, the "cost" changed from 200 taels to 1 cent, 5 cents, 1 tael, and finally even 50 taels. s price. The price seems crazy enough to anyone.
"It seems that greed and speculation are unavoidable in any time and space." Meng Xian couldn't help but express his emotion when he heard the news that the subscription book was being speculated.
Officials and wealthy people are so enthusiastic about it, and the common people are not far behind. Stocks and bonds cost only seven cents and two cents each, making them affordable for middle-class people. The wealthy people in Guangzhou also saw the various wealth myths of the Purple Brand, and they were unwilling to miss out on this opportunity. Just rush to the bank and buy five or ten shares.
It only took four or five days for the underwriting group's quota of one hundred thousand taels of silver to be sold out. In fact, if Meng Xian and Guo Yi hadn't intended to allow ordinary people and middle-class families to purchase part of the securities, just the local wealthy officials and gentry could have bought up all the quotas.
"We can definitely distribute 200,000 taels," Zhang Yikun, the person in charge of Big World, smiled from ear to ear. Once Bai Huahua gets the money, the project can be launched on a large scale.
"Why are you so anxious? This city of Guangzhou is like a black hole of silver. Two hundred thousand taels is nothing. There is so much money hidden in the corners of the walls and underground among the wealthy old men. We have to find a way to dig up all their money and use it." Meng Xian said, “This time it’s just the first phase, and we will sell the second and third phases in the future.”
Zhang Yikun nodded repeatedly: "This is the best. If you sell it continuously, it will be fun to use other people's money." He thought for a while and said, "We should sell more stocks and less bonds. We can't escape the two cents interest on bonds every year." . The stock will be said to be poorly managed anyway and will leave without dividends.
Anyway, that group of shareholders can't check the annual performance report or anything like that. "
Meng Xian said: "The stock market has been ruined by your thinking. You are all pigs as shareholders, and you have to kill pigs and bleed them all day long, and you have to come in? In my opinion, in the first five or six years, it was more or less the same." If you want to distribute dividends, you need to build up your credit! Even if you make no money or lose money, you have to share it! Only in this way can your second and third tranches, and other future project stocks, be sold!" a.
