Taobao Holding pany (TBHC) has a registered capital of 2 billion yuan with the State Administration for Industry and Commerce, and its legal entity is Sun Jian. Taobao Electrical Appliance Group, PENG’s largest shareholder, has already changed to Taobao Holding Company.
Jiangcheng Taobao Electric Co., Ltd. has changed to Taobao Electric Group (TBEG), with the legal person being Sun Jian and a registered capital of 1 billion yuan.
On September 12, Kunpeng Software Group Co., Ltd. has approved the application of PENG to be listed on the Nasdaq Stock Exchange with the U.S. Securities and Exchange Commission (SEASDAQ: PENG).
PENG hired Hujiang Deloitte Certified Public Accountants Co., Ltd. as the company's accounting firm to issue the 1992 financial audit report, asset appraisal report, capital verification report and profit forecast report. The National Asset Appraisal Firm produced the asset appraisal report. Book.
Earnings per share in 1992 were 0.78 yuan (RMB, the same below), and net assets per share were 2.34 yuan. The prospectus predicted earnings per share in 1993 of 1.5 yuan (calculated based on the total share capital before IPO), and net assets per share. 3.84 yuan (calculated based on the total share capital before the IPO), based on the comprehensive price of US dollars to RMB 1:7, equivalent to the earnings per share in 1993 of US$0.21 (calculated based on the total share capital before the IPO), and net assets per share of US$0.55 (based on the IPO Total share capital before calculation).
In order to reach a net asset value of US$1 per share, PENG reduced its shares at a ratio of 2:1 through negotiation. The total pre-IPO share capital changed to 1,417.5 million shares, and the net assets per share changed by 7.68 yuan.
PENG predicts a turnover of US$1.23 billion and a net profit of US$595 million in 1993. It predicts earnings per share in 1993 of US$0.42 (calculated based on the total equity before IPO) and net assets per share of US$1.1 (calculated based on the total equity before IPO).
In order to maintain the company's stock price and increase the confidence of global investors, PENG promised that the allotment shares held by employees (5.752 million shares) will be locked for one year from the date of listing. The second largest shareholder, Taobao Holdings Company Employee Stock Ownership Association (Employee Stock Ownership Association) The original shares received (182.7757 million shares) and the original shares (70.875 million shares) held by the third largest shareholder, Kunpeng Education and Poverty Alleviation Foundation (PE Aid Foundation, referred to as PSAFPA) are locked for two years. The first shareholder, Taobao Holdings The original shares held by the company (1,158.0975 million shares) are locked for three years.
According to U.S. listed company holding reduction regulations, the largest shareholder needs to hold restricted securities for two years before selling them to the market.
Three underwriters proposed IPO plans.
PENG plans to issue 500 million American Depositary Shares (ADS) to global investors, accounting for 26.08% of the total post-IPO share capital. The issue price is US$6.3 to US$8.4 (15 to 20 times price-earnings ratio), and the funds raised are US$3.15 to US$4.2 billion (no Deducting underwriting fees, the same below).
Sun Jian was not satisfied and proposed two IPO plans:
1. PENG plans to issue 300 million American Depositary Shares (ADS) to global investors, accounting for 17.47% of the total post-IPO share capital. The issue price is US$16.8-21 (40-50 times price-earnings ratio), and the funds raised are US$5.04-6.3 billion. .
2. PENG issued 500 million American depositary shares (ADS) to specific investors around the world, accounting for 26.08% of the total post-IPO share capital. The issue price was US$12.6 to US$16.8 (based on a price-to-earnings ratio of 30 to 40 times), raising funds of 6.3 to 8.4 billion. Dollar.
PENG also gave the three underwriters over-subscription rights for the issuance of up to 15% of the total share capital of American depositary shares.
Three underwriters adopted the second IPO option.
As the legal person and chairman of PENG, Sun Jian signed an agreement with three securities companies, KKR, Morgan Stanley and Goldman Sachs represented by Justin, Declan and Samuel, to jointly underwrite PENG's IPO and trade on Nasdaq. The legal documents listed.
The total underwriting fee is 3% of the total IPO amount.
The three underwriters will hold three PENG IPO roadshows in Tokyo, Hong Kong and New York.
…
"Congratulations to Mr. Sun, Japanese investors are willing to purchase 340 million shares at a price of US$12.6."
After the Tokyo road show, Justin, Declan and Samuel walked into Sun Jian's room with smiles on their faces. Although they were optimistic about PENG's future, they did not expect that investors' desire to invest would be stimulated through Sun Jian's passionate speech. It turns out that the higher the IPO, the higher the underwriting fees the three underwriting companies will receive, and the higher the commission I will receive.
“Japanese investors are still injured!”
Sun Jian was not surprised at all.
In the previous life, when Yahoo was first established, Yang Zhiyuan and Ferro hired more than 20 employees using rented office space, servers and computers, and used manual editing to catalog hundreds of unrelated websites. The annual turnover was only 130. US$130,000, with an actual loss of US$630,000. However, its first IPO raised more than US$130 million at a price of US$13 per share. It closed at US$33 on the first day of listing, with a total market value of more than US$500 million.
PENG predicts that in 1993, its revenue will be US$1.23 billion, profit will be US$595 million, and earnings per share will be US$0.42.
Compared with Yahoo when it first went public, the plump PENG is in the sky and the other is underground!
Many domestic officials and professionals don't understand. Last year, PENG's total sales were more than 4.4 billion yuan and net profit was more than 2.2 billion yuan. It made a lot of money, so why did it go to the United States to go public? Give profits to foreigners?
The three underwriters set PENG's issue price at US$6.3 to US$8.4. In addition to having poor vision, they also had ulterior motives.
Most of the latter!
There are many discerning investors in the world!
Middle Eastern investors such as Saudi Arabia and the United Arab Emirates, who have a lot of money in their hands, will not give up this opportunity to make a fortune!
"Mr. Sun is still not satisfied?"
"Mr. Justin, when GPIC IPOs next year, the amount of funds raised will not be less than US$1 billion!"
ah……
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Xiangjiang Hotel.
"Ladies and gentlemen, good afternoon! Kunpeng Software Group..."
The second stop of the IPO road show, Xiangjiang.
Hong Kong is a highly prosperous free port and international metropolis. Together with New York and London, it is known as "Newland Port". It is the third largest financial center in the world, an important international finance, trade, shipping center and international innovation and technology center. It is also the world's third largest financial center. One of the freest economies and most competitive cities, one of the Four Asian Tigers, and enjoys a high reputation around the world.
130 of the world's major banks and financial investment companies have branches and subsidiaries in Xiangjiang.
The three major underwriters invited Abu Dhabi Ihority, SAMA fn holdings, Kuwait Ihority, Qatar Ihority, I Corporation of Dubai, Iioroleum I ubadala Development pany, Asia Trust Investment Company, Asia World Group, Cathay Trust Group, Wharf Group, Melco Local investors including International Group, Sun Hung Kai Properties, Henderson Land, Cheung Kong Holdings and New World attended.
Sun Jian delivered a speech "Investing in PENG is investing in the future". The integration of computers, communications and the Internet will be the direction of world economic development. The development of the Internet will advance by leaps and bounds. PENG has already occupied a leading position in software development and the Internet. The development prospects are bright.
…
"Chairman Sun, I personally buy 1 million shares for $14."
Gao Fuming signed up to attend the IPO himself and was willing to invest US$14 million, not only to make money with Sun Jian, but also to repay his life-saving grace.
