Time soon entered August. As expected, the Stock Exchange approved the delisting permission of Hutchison Group. Hutchison officially became the first large group in Hong Kong history to delist from the Hong Kong stock market.
According to the original agreement, Chen Zhiwen also spent hundreds of millions of Hong Kong dollars to acquire the stocks from some shareholders at the price stipulated in the previous contract. Another group of people, even if they believed that Chen Zhiwen had the ability, believed that it would take too long for Hutchison to return to normal. If you have the time, it would be better to sell your stocks and invest in other companies or real estate. It is much safer, so he also wanted to sell the stocks in his hands. Chen Zhiwen readily agreed, but only slightly lowered the price. He couldn't let it go with him before. Do the people who cooperate earn less than this group of people? .
As a result, within half a month, Galaxy Securities successfully acquired 31.4% of the shares. At this point, Galaxy holds more than 80% of Hutchison's shares.
The acquisition, which spanned eight months, ended with a perfect victory. In this acquisition, 80% of the shares were worth a total of HK$340 million, which was basically only a little higher than the original stock price of Hutchison. The fundamental reason for this was that Hutchison’s The management was too bad. Under Zhou Jiayang's reasonable control in the early stage, he did not spend much. Later, it was discovered that someone had acquired Hutchison's shares, which stimulated the stock market. Hutchison's market value peaked at HK$1.1 billion, but Chen Zhiwen's identity was exposed. After that, the stock price fell rapidly again, allowing Zhoujiayang to increase to 49.9% at a cheap price. The rest were acquisitions after delisting. We still have to thank Hutchison for the bad situation, otherwise it would not have been so smooth.
However, although it did not cost a relatively huge price, the investment of more than 300 million Hong Kong dollars also allowed Chen Zhiwen to basically spend all the profits he made by speculating on petroleum derivatives plastics. Fortunately, the acquisition of Wharf has also been temporarily suspended, and Chen Zhiwen also intends to suspend it. For a period of time, Hutchison Huayang's change of ownership also made the British consortium more vigilant. They stopped for a period of time to retract their fists and rest, waiting for the next attack.
At the same time, at Chen Zhiwen's request, Citibank sent a team from the United States. After half a month of agreement, Chen Zhiwen used his Walmart stock worth US$146 million as collateral to lend HK$500 million, of which HK$200 million was transferred to Hutchison Group was used for the merger of its Whampoa Company and Watsons, and the other 300 million was still placed in the account of Citibank's Hong Kong branch.
The whole thing was kept highly confidential. Citigroup's branch in Hong Kong was not involved. It only accepted Chen Zhiwen's HK$300 million in the end. The reason why the branch was kept secret was because the branch had many Hong Kong employees, and the entire mortgage contract passed through them. There will be a risk of leaking secrets. Currently, Chen Zhiwen does not want Hong Kong to discover that he still has too much wealth in the United States. This will most likely arouse the vigilance of all British capital.
As for injecting a sum of money into a single account, only a few Americans at Citibank know about it, which is relatively safer.
At this point, Chen Zhiwen owns 92% of Hutchison's equity, and the remaining 8% can only be acquired by Zhou Jiayang slowly.
At the same time, a joint venture company composed of Li Jiacheng, Hehe Industrial and Hutchison Group was also registered, with Hutchison 50%, Cheung Kong Holdings 30%, and Hehe Industrial 20%. Li Jiacheng served as the general manager, Hu Yingxiang was the deputy, and Chen Zhiwen Zhou Jiayang was arranged to join in, and the main role was supervision. At the same time, financial personnel were also arranged.
Li and Hu naturally have no objection to this. Their current main focus is on valuing some of Hutchison's projects and land and studying how to develop it. Hutchison's engineers have also joined in. Although Hutchison's real estate development capabilities It's a little weaker, but the valuation is still no problem, and Chen Zhiwen also specially hired a third-party agency to conduct the valuation. When the three valuations are similar, the joint venture company will pay and record the corresponding funds, and then it will enter development. stage.
These are just established processes, and future specific operations need to be determined based on actual conditions.
Within Hutchison, Chen Zhiwen and Zhou Jiayang met with the management of Whampoa Group and informed them of the merger plan. Hutchison was originally the major shareholder of Whampoa, and the funds could be negotiated, so the management of Whampoa Group approved the merger plan. However, the details still need to wait for the approval of the shareholders' meeting. However, this shareholders' meeting is actually no different from the previous Hutchison shareholders' meeting. At most, it is a matter of price.
The Watsons are temporarily holding back and waiting until the Huangpu Group's affairs are over.
Richard is mainly responsible for selling all the non-core business companies in the company's non-real estate business, whether they are loss-making or profitable. Chen Zhiwen wants to sell all of them, even if he may be optimistic about a certain business in the future. You can enter the market later. The electronics industry is not changing rapidly. It won't matter if you are ten years late.
In addition to the 360 branches, during Qi Dezun's era, Hutchison also invested in many companies. There were more than 18 companies in total. These were all major shareholders, and there were hundreds of companies with less companies.
When Richard Richard and Zhou Jiayang compiled the list of these companies, Chen Zhiwen suddenly discovered a good investment that he had almost ignored.
"Hong Kong TVB? We have 2.36 million shares of TVB. What is our proportion?" Chen Zhiwen looked at a piece of data in the table and asked.
"TVB? Let me take a look." Zhou Jiayang immediately flipped through the documents in his hands. What they gave his boss was a list, and he had more information in his hands.
"I found it. There are 7.68 million TVB shares in total. Our Hutchison share is a little over 30.7%." Zhou Jiayang said after a quick mental calculation, and at the same time handed the document to Chen Zhiwen.
"Why doesn't Qi Dezun want TVB? With his character, how could he not want this powerful media tool that can control the whole port's tongue?" Chen Zhiwen asked.
"Because when TVB was established, Hutchison, HSBC, and Times Life Group signed an escrow contract with Li Xiaohe. Unless TVB incurred huge losses and the management team did not make serious mistakes, we were not allowed to interfere with TVB. And Wireless was established in 1967, and Qi Dezun had just become Hutchison’s chief executive at that time, so his investment strategy was still different from what he would later do.” Richard replied.
"What if Li Xiaohe dies?" Chen Zhiwen asked again. He knew that this guy would not live for a few more years. It was also because of Li Xiaohe's death that Shao Yifu had the possibility of taking over Wireless.
"Then the contract will naturally expire. Chen Sheng, are you interested in TVB?" Richard sensitively sensed the change in the boss's attitude.
"A TV station is still very useful. What kind of company is Times Life Group?" Chen Zhiwen asked.
"This is a British-funded trading company that was relatively large ten years ago. Qi Dezun also had a good relationship with them at the time, so they invested in a wireless TV station together, but it has declined in recent years," Richard said.
"Then should we take over the wireless stocks from this company? They own 2.26 million shares. Once the acquisition is successful, we will control 60% of wireless shares." Zhou Jiayang asked.
"Okay, take it." Chen Zhiwen nodded. The equity structure of TVB is that HSBC and Hutchison Bank each own 2.36 million shares; Times Life Group owns 2.26 million shares. Among private shareholders, Li Xiaohe holds 270,000 shares; Li Rongsen and Li Rongda together hold 110,000 shares; and Run Run Shaw owns 320,000 shares.
"Okay, Chairman, let me go and consult." Zhou Jiayang agreed.
(End of chapter)
