I Want To Be a Rich Man on Hong Kong Island - Chapter 688

Chapter 688 [Wheelock Acquisition Battle One! 】

On January 8, 1985, the Hang Seng Index closed at 1588 points, and the day’s turnover set a record of 800 million Hong Kong dollars;

In Wu Guangyao’s view, a new wave of Hong Kong market has begun;

The era of feverish stockholders and crazy stock market will come again.

In the next few days, the stock market showed some weakness, and it has not passed 1600 points;

However, an unusual phenomenon has appeared in the market:

For a long time, Wheelock’s stock has been active in the market, and I am still in a state of motionlessness. It belongs to that kind of ‘hibernation stock’;

However, in late January, Wheelock’s stock price suddenly jumped from the level of 4.1 Hong Kong dollars to 5 Hong Kong dollars, like a waking snake.

Such abnormal market conditions have made market participants speculate;

The most popular saying in the market is that the Wu family wants to acquire Wheelock Group.

The reason is simple: the’national hero’ Wu Guangyao has always liked to buy British-owned companies. The large British-owned companies that fell in his province occupy half of Hong Kong Island; such as Wharf, Land, Hutchison Whampoa, Qingzhou Cement, and Hong Kong Tram. , Hongkong Electric, China Gas.

Now Wheelock is ready to move, the first thing everyone naturally thinks is that Wu Guangyao is ‘making trouble’.

At the same time, some media turned up old accounts: In 1982, Hong Kong media published a lace news-Wu Guangyao once gifted Wheelock founder Lao Ma Deng (deceased) a Zhongtang birthday scroll 20 years ago. He accidentally walked into the market and sold it in an antique shop. After learning about it, Little Madden went to buy the treasure, only to find that it had been listed first by others.

The media believe that the Madden family did not take the treasures given by Wu Guangyao seriously and hurt the face of the world’s richest man. Wu Guangyao is also welcome, anyway, the fate is gone.

As the protagonist of public opinion, Wu Guangyao suddenly felt helpless. There are so many investors can think of;

Wu Guangyao has never intended Wheelock for two reasons:

First, although Wheelock’s assets are rich, they are not non-buy products, nor are they irreplaceable assets; in short, I do not like it!

Secondly, Wu Guangyao and Lao Madeng are not acquainted with each other, and the relationship with Madden is acceptable, and it can be regarded as a friend relationship; there is an old Chinese saying-friends’ wives, don’t deceive; friends’ wealth, don’t be greedy.

So, how could Wu Guangyao take the initiative to acquire Wheelock Group, even when Xiao Madeng deliberately put it on the market, Wu Guangyao was not tempted at all.

As for the lace news of the media, although Wu Guangyao was a little angry that the Madden family ‘left behind’ his treasure, he would not be in trouble because of this incident.

Wu Guangyao could not explain the market rumors, nor did he want to explain;

Everyone is willing to make brain supplements, so let’s go brain supplement!

However, Wu Guangyao already knows the abnormal behavior of Wheelock Group’s stocks;

Unsurprisingly, it should be Guo Jianglong—Qiu Debo was making waves.

Depending on the situation, Wheelock Chairman Madden has sold his shares to Qiu Debo;

At the same time, Qiu Debo quietly purchased Wheelock’s stock in the market, which led to the height of Wheelock’s stock.

The Madden family, like the Keswick family, has always been afraid of the ’97 Return’;

Then the Madden family faded out of Hong Kong, and it was logical.

Coincidentally, due to family conflicts, the major shareholder Zhang Yuliang of Wheelock Group also has the intention to fade out of Hong Kong;

This makes Madden even more determined, one step ahead and quietly sell his shares to others.

Who has Qiu De assigned to come to Hong Kong to acquire large-scale British-owned foreign firms?

At this time in Hong Kong, Qiu Debo is definitely an unknown person. More than 90% of Hong Kong citizens have not heard of Qiu Debo’s name;

However, Qiu Debo can be called ‘crossing the river and dragon’, obviously he is not waiting for leisure;

Qiu Debo, a native of Fujian, worked as a clerk in the Malay Overseas Chinese Firm in his early years, and founded the Malayan Bank in 1960 with his friends;

In 1965, Qiu Debo moved to Singapore for development and acquired Maybank’s Singapore assets-five listed companies mainly in the hotel industry. In Singapore, Qiu’s wealth is second only to the Huang Tingfang family, and both of them are famous. Nanyang’s richest man.

In the early 1980s, the Huang Tingfang family entered Hong Kong, and the flagship Sino Group in Hong Kong also ranked among the top 15 listed real estate companies in Hong Kong;

Qiu Debo, who is also a wealthy Nanyang man, is naturally itchy and eager to find a place where he has sufficient funds in Hong Kong.

Qiu Debo, who is 70 years old this year, will never be a reckless person, so he is well prepared;

First negotiated with the Madden family through an intermediary and acquired 14% of Wheelock’s shares owned by the Madden family.

January 31, Thursday, afternoon.

Wheelock and Wheelock announced the suspension of trading, and Ma posted the conclusive news of the acquisition: the acquirer was FAL, a company in Hong Kong just registered by Qiu Debo, with Luo Fuqi and Sons (Hong Kong) as its financial adviser; Luo Fuqi made conditions on behalf of FAL. In the general acquisition agreement, FAL acquired Wheelock A shares for HK$6 in cash per share, and B shares of Wheelock and Company in cash per share at 0.6 HK$. The acquisition involved a total of HK$1.9 billion.

The proposal also stated: FAL has purchased 6.7% of Wheelock’s A shares (approximately 210 million shares, with a total A share capital of 3.1 billion shares) from the Madden family, and purchased 22.7% of Wheelock’s B shares (approximately 0.55 100 million shares, 240 million shares of total B shares).

AB share model: The stocks are divided into two series, A and B, in which series A common stocks issued by external investors have 1 vote, while the B series common stocks held by management have N votes per share (usually 10 votes) voting rights.

Simply put, it means that the same shares have different rights. This is a way for the management of some listed companies to use a few stocks to control the entire company;

Wheelock’s ab shares are another model, the voting rights of the two are the same, but the b stock market value is only 1/10 of that of A shares;

Wheelock’s first listed company in the history of Hong Kong Island to conduct AB shares, and also the only listed company to implement AB shares.

At the beginning, Wheelock took the lead in implementing the AB share model, in order to fear that other Chinese-owned companies would follow Wu Guangyao and initiate an acquisition of Wheelock;

Because he was the first person to eat crabs, the supervisory department was caught off guard;

Subsequently, the Securities Regulatory Commission rejected all subsequent applications for the issuance of AB shares, and Wheelock was a done deal, and its influence was not low, so the matter went away.

Li Chaoren is one of the people who wanted to learn the AB stock model. I don’t know what he is worried about.

In Wu Guangyao’s view, Wheelock’s AB share model is not unbreakable;

If you buy by yourself, you can break this model even if you don’t have to spend a lot of money;

First, Wu Guangyao will secretly purchase a certain amount of A shares, and then convene a board of directors to veto the equal voting rights of B shares;

Because the total voting power of Wheelock’s Madden and Zhang family at this time is less than 50%;

The remaining 50% of voting rights must be unwilling to see the status quo of different rights in the same stock. The board of directors can easily change the priority of B shares.

In this way, the two defense lines can be completely broken!

Of course, Wu Guangyao will not make such a malicious acquisition, just think about it!

Wheelock Building

Zhang Yuliang was furious, cursing Xiao Ma Deng not to talk about ‘wu ethics’, and quietly sold his shares to Qiu Debo;

It turned out that major shareholder changes must be approved by major shareholders, not to mention let all directors know;

Madeng traded with Qiu privately, so he didn’t regard his long-standing partners as human beings.

“No! The transfer of Qiu De to Wheelock as the leader is likely to damage the interests of all shareholders! I must stop him!”

“If I initiate a reverse takeover, I must invest a lot of money; now I have deliberately faded out of Hong Kong and moved to Australia, so the reverse takeover is unrealistic.”

“However, if a non-reverse takeover is initiated, Qiu Debo will definitely succeed!”

“It seems that I have to look for foreign aid! Well, anyway, I also deliberately faded out of Hong Kong, so I might as well take advantage of the high price of this market to sell the shares of Defeng!”

Zhang Yuliang quickly made up his mind, stock investors were waiting for Zhang to challenge, but he didn’t follow his wishes;

Sell your shares to someone who has the ability to fight Qiu De and sit on the mountain and watch the tigers fight by yourself. Wouldn’t it be better!

(End of this chapter)