On September 26, the Hong Kong Economic Journal once again lit up the financial public opinion in Hong Kong. Hutchison Whampoa Company officially announced on the homepage of the Hong Kong Economic Journal that it had acquired 25% of the shares of Yingzhou Yingni and would pay 4.2 Hong Kong dollars per share. Price, purchase the stocks on the market until the purchase reaches 49.9%. This purchase price is 25% of the current stock price of Jingzhou Yingni.
The second page of the newspaper also details the purpose of the acquisition, publicly commenting that the board of directors of Qingzhou Yingni has made no progress for decades and has been standing still in the main business of cement manufacturing without any expansion measures, resulting in The entire company's stock has been languishing for a long time, and investors from all sides have suffered heavy losses.
Cheung Kong Industries Headquarters:
Li Jiacheng looked at the newspaper in his hand and said with some pity: "Qingzhou Yingni? Chen Zhiwen actually took action first."
A white man drinking coffee next to him said: "Mr. Li, Chen Zhiwen's purpose of acquiring this company should be for their company's piece of land in Hung Hom. It only needs to be converted from industrial to commercial, and it can be developed like Whampoa Garden. "
"Yes, George, I once took a fancy to this company and was planning to acquire it, but I didn't expect it was too late." Li Jiacheng shook his head and sighed.
"Why wasn't it acquired in advance? The market value of this company is not high?" George asked curiously.
"It doesn't cost much to acquire Qingzhou Yingni, but converting its land from industrial to commercial needs at least more than 100 million Hong Kong dollars. Even if we can get a loan, it will seriously consume Cheung Kong's credit line. We have too many projects under development. I originally wanted to consider it after several projects are over, but it's too late to say anything now." Li Jiacheng said with a deep breath.
"Actually, it's nothing. In the current Hong Kong market, there are a lot of land in good locations. Swire and Wheelock are constantly selling their own land. The Hong Kong government is also auctioning it. Even Hutchison Whampoa is cooperating with us to develop it. We are basically Don’t worry about not having any land for development. It would be a pity if you miss a piece of land, which is completely unnecessary.” George said while still drinking coffee.
"You are right." Li Jiacheng nodded and said, "Actually, what I value more is that Hutchison Whampoa has begun to expand externally."
"Isn't it normal to expand externally? Land also acquired Milk, and Hutchison also expanded aggressively." George said.
"It's still different. Chen Zhiwen is obviously much calmer. His direction accuracy is much better than that of Qi Dezun before, and he has more capital." Li Jiacheng shook his head and said.
George is a management elite that he hired from a headhunting company. He has strong communication skills externally, especially with the Hong Kong government, and strong internal administrative management skills. His only weakness is that he has little understanding of real estate. Understand the operation model of Chinese real estate companies.
“Although I don’t know much about real estate, judging from Hutchison Whampoa’s current business model, they seem to be only interested in land that is larger or in a better location. They don’t seem to want small land or those in poor locations. , which can be seen from the fact that they have continued to cooperate with us after the debt crisis was lifted." George analyzed.
"Normally, their manpower and energy are limited, their experience is not rich, and their funds are sufficient. They will definitely have such a choice." Li Jiacheng nodded and said.
"However, I have calculated that even if Hutchison Whampoa wants to acquire Yingni now, it will also need to transfer 800,000 square feet of industrial land in Yingni, plus the second phase of Huangpu Garden. These additions will It requires a lot of funds, and the pre-sale revenue of the first phase of Whampoa Gardens is estimated to be very low. In this way, unless Chen Zhiwen mobilizes funds overseas, otherwise Hutchison Whampoa will be rare in the next year, and it is estimated that it will be difficult to make large investments. ." George said again.
"This is good news. I plan to participate in the auction of MTR's two subway exits in Central and Admiralty early next year. If Hutchison Whampoa runs out of money, it will reduce one competitor." Li Jiacheng nodded. said.
"The location is too attractive. Even if Hutchison Whampoa doesn't come, Land will definitely not give up. Other Chinese real estate companies and even overseas real estate companies will also participate. Our pressure is still the same," George said.
"It would be better to have one less person. Cheung Kong Industries has been operating in the suburbs since its development. Even if dozens of businesses are developing well and the profits are very good, they still can't get on the market. I need to do a big project in Central. Come Increase the visibility of Cheung Kong Holdings." Li Jiacheng said slowly while looking at the pile of high-rise buildings on Hong Kong Island in the distance.
"Then we can only make more preparations." George paused and said. In fact, he had little confidence in this matter. Although Cheung Kong Industries has developed well in many projects, most of them are far away from Hong Kong Island or even Tsim Sha Tsui. For projects on the Kowloon Peninsula, although housing prices are low in these remote areas, there is less competition. If more is done, the scale of benefits can also increase. This is also the development direction chosen by Cheung Kong Industries. It avoids competition with most real estate companies and can live in the countryside with peace of mind. Get rich. At this time, there is a lot of pressure to change your habits and compete with giants for land on Hong Kong Island.
But having said that, unless Cheung Kong Industries is satisfied with its current situation, otherwise, if it really wants to develop better, it will naturally need to expand to Hong Kong Island. After all, the market in the countryside is always limited. Nowadays, Cheung Kong Industries’ land reserves can already be With an area of several million square feet, it is enough to reach the top five in Hong Kong, but in terms of value, it may not even reach the top twenty.
And his boss is very ambitious, so he will definitely not be satisfied with such results.
"You bastard." In an office building in Hung Hom, William Kane, the chairman of Qingzhou Yingni, punched the table in anger after reading the newspaper.
"Chairman." The assistant on the side quickly stepped forward subconsciously, but didn't know what to say.
"Convene an emergency board of directors immediately and summon all the directors." After a period of hand pain, William Kane returned to normal. Now when the company's survival is at stake, he must stabilize.
"Okay, I'll get in touch right away." The assistant quickly backed out.
Naturally, a bunch of directors of Qingzhou Yingni also knew about such big news. Under the notice of the secretary of the board of directors, all but one director who was not in Hong Kong rushed to the scene that afternoon.
"Everyone, now Hutchison Whampoa has launched a hostile takeover of us, which has affected the life and death of the company, so I hope you can stand on our side and protect our company's century-old history together." William Kane said directly.
"William, let's not even talk about a hostile takeover. They are also cashing in real money." A director said with a smile.
"The cash acquisition is true, but after the acquisition, Hutchison Whampoa will definitely split up our company or even sell our business. By then, there will be nothing, and a large number of employees may also lose their jobs." William Kane said with a dark face, The person who just spoke was one of the directors who had been having some friction with him. It didn't matter when he controlled the company before, but now it has become a problem.
"This is too far-fetched, and Hutchison Whampoa's benefits to all employees of its companies are among the best in Hong Kong. Perhaps this is the best for employees." The person who just spoke added.
"Edela, what do you mean? Have you already sold your shares to Hutchison?" William Kane almost roared.
"Yes, my shares have been sold to Hutchison Whampoa." Edela laughed and said: "Everyone, I am here today not to participate in this so-called board of directors, but to deliver a message to Hutchison Whampoa. Everyone here, If you are willing to sell your own stocks, you can get a greater discount than what is available in the market. Each of you can get a 35% increase from the previous Hutchison Whampoa quotation in a direct cash transaction."
"35%?" The people present immediately looked at each other. This price is so exciting. You must know that they are all directors of the company. As long as the directors reduce their stock holdings, they are restricted by law. If they want to sell them all at once, they can say It is as difficult as climbing to heaven.
Nowadays, the Hong Kong stock market and the local market have risen sharply, and the stocks of Yingzhou Yingni have also risen a bit, but they are still not as good as the average level of the Hang Seng Index. In this case, if there is an opportunity, some of them will naturally want to cash out and leave. Especially now that the transaction price has increased by 35%.
"Edela, since you are no longer a shareholder of Qingzhou Yingni, you are not qualified to sit here. Please leave immediately, or I will hire security guards." William Kane's face was ugly, but his long-term gentlemanly behavior made him He still maintains a certain degree of sanity.
"I will leave, but you can consider my proposal carefully." Edela also gave face to him, stood up and walked to William Kane and said: "William, facing such a strong opponent, you have no chance, still Recognize the reality. Hutchison Whampoa asked me to tell you something. If you are willing to let go, then Hutchison Whampoa can also increase the price by 35% to acquire the stocks in your hands. It is a one-time cash transaction. With such a large amount of money, you can invest in other industries. Or if you don’t want to leave, you can continue to manage the company’s cement business.”
"In your dreams, I will never give up my ancestral heritage." William Kane said loudly.
"Okay, I admire you. So everyone here, except you and me, holds almost 20% of the company's shares. How much are you prepared to increase to acquire their shares? 40%? Based on William's family's shares, plus here Everyone's stocks can almost keep the management rights of your company, please?" Edela stretched out her hand and said with a smile.
"That's enough, Adela, please leave immediately." William Kane said quickly: "Everyone, don't listen to his nonsense. We all manage Qingzhou Yingni together. Now that the Hong Kong real estate market is strengthening, our benefits will soon be It will increase significantly.”
"No matter how high the price is, can it be compared with the real estate itself? Who doesn't know that construction is just to earn some money from real estate." Edela smiled and said: "Everyone, the validity period given by Hutchison Whampoa is only 2 days. , if Hutchison acquires enough shares in the stock market, the shares in your hands may not be sold even at cabbage prices."
After saying that, before William Kane could get angry again, he hurriedly said goodbye and left.
Although the person left, everyone present was still very moved, not because of how good Edela was in eloquence, but because he just said what everyone was thinking, and besides, 35% is so delicious , or cash.
"Everyone, everyone has been a director of Jingzhou Yingni for so many years. I hope that everyone will focus on the overall situation. In the long run, holding our stocks will definitely give everyone a satisfactory rate of return." William Kane saw the scene The environment is a bit abnormal, he quickly added.
"William, we understand your mentality, but you are also a director and shareholder of other companies. If similar things happened to other companies, what would you do?" Another director said.
"This" William Kane wanted to tell a lie directly, but the directors present were all human beings, and lying too obviously would only make them fall apart from him even more, so he said: "In this case, everyone gives me 2 days to raise funds. , if you really want to sell the stock, how about selling it to me first?"
(End of chapter)
