You are worth tens of billions before you come to the system?

Chapter 181 We are a democratic enterprise
"By the way, the news of the IPO should be postponed for a few days. The shareholders' meeting will be held tomorrow to determine the final valuation, the establishment of the board of directors, and equity incentives."

Public opinion on the Internet is getting more and more intense. If Mojin IPO is announced now, the valuation will be as high as US$202 billion.

It will inevitably divert public attention, which is equivalent to a fight between left and right. No matter who wins or loses, the only loser is Lin Zitai.

Let the bullets fly for a while, hide the IPO news, wait until the public enthusiasm subsides, and then announce the IPO news to maximize profits.

Su Jiayue pondered for a long time and couldn't help it anymore: "Do you still want me to be Mojin's executive director?"

In recent months, although she has been doing the work of an executive director, she is only Lin Zitai's secretary-general in name.

The establishment of a board of directors means that the number of four non-executive directors and one executive director must be formally determined.

Lin Zitai asked with a smile: "Then do you think you are qualified?"

Su Jiayue replied without hesitation: "As long as you believe that I can do the job, then I can do the job."

"That's alright, let's notify the shareholders to come to the meeting."

After Su Jiayue left, Lin Zitai called Deng Jiahao and asked him to draw up several more contracts for the free gift of dry shares.

From holding 65.025% of the shares, 1% of the dry shares were given to Su Jiayue, so that she could also enjoy the rights to dividends at the end of the year.

After all, Su Jiayue has been with him for so many years, and has never left him no matter the peak period or the trough period.

She deserves 1% of the shares.

There are also Liu Xiaojun and Mo Wenzhi, who have worked hard with him for several years, and they share 1% of the shares.

In the afternoon of the next day, Mojin held its first general meeting of shareholders to discuss the IPO and various pre-listing matters of the board of directors.

Representatives from domestic ICBC Ping An, Zhang Jianghe and others, as well as Aramco, Goldman Sachs and JPMorgan, a total of 23 investment banks, gathered together.

"I'm glad that everyone can take some time out of their busy schedules to attend this shareholders' meeting."

"On behalf of all the employees of the company, I would like to express my gratitude to all shareholders for your support."

Lin Zitai smiled, stood on the podium, bowed, said a few words, and then got straight to the point.

"The company is expected to start its IPO at the beginning of next month and hold a total of four road shows. The valuation is tentatively set at HK$1575.6 billion and it will be listed on the Hong Kong stock market."

In order to stabilize the Hong Kong dollar monetary system, the Hong Kong government implemented the New Deal in 83 and pegged the Hong Kong dollar to the US dollar at a fixed exchange rate of 7.8.

Since then, the Hong Kong dollar's exchange rate has been fluctuating with the U.S. dollar. The Hong Kong Monetary Authority will only issue as many Hong Kong dollars as it reserves in U.S. dollars.

This has advantages and disadvantages. The advantage is that as long as the United States remains the world hegemon, Hong Kong does not have to worry about being affected by the world situation and causing the devaluation of the money in hand. The disadvantage is that it loses the right to independently issue currency and becomes a vassal currency of the US dollar.

Once the economy of the United States goes down and it chooses to issue additional currency, Hong Kong will not have the power to issue additional currency and will have no choice but to pay for the hegemony of the US dollar without any resistance.

Just like the economic downturn in the United States in recent years, which required an additional two trillion US dollars to be issued within three years, the mainland can choose to issue additional currency to resist exchange rate fluctuations, but the people of Hong Kong can only passively accept it.

After learning that it had a valuation of US$202 billion, the shareholders who participated in the first round of financing showed excitement on their faces.

The first round valuation was US$20 billion, which has surged tenfold in the past year alone, and may reach more than 12 times once it is listed.

Wang Sichao sat at the end of the conference table and looked at Lin Zitai on the stage, with a hint of admiration in his eyes.

Now, he had to admit that the gap between people was sometimes bigger than the gap between people and pigs.

It's a pity that he wasn't optimistic about Lin Zitai at the beginning, so he gave up the financial company to engage in industry, which was just a waste of watermelons and sesame seeds.

However, it would not exceed 16 months at most, and the rate of return was as high as 12 times, which made his face swollen.

I don’t know if it’s too late to officially recognize Master Qi now, but it feels so comfortable to lie down and be carried away.

Lin Zitai added: "As the company prepares for the IPO, there will be more and more affairs. I suggest setting up a board of directors. What do you think?"

Liu Shifan, Wei Yixiang and others raised their hands to express that they had no objections. Goldman Sachs and other foreign investment representatives also showed a hint of joy on their faces.

Because once the board of directors is established, it means that the company will no longer have Lin Zitai’s say. Although he, as chairman, has veto power, he generally will not use it easily.If they can arrange their own people on the board of directors, they will also be qualified to recommend some to various departments of the company.

With Mo Jin's current size, just a little bit of leakage from the cracks of his fingers would be tens of millions, or even hundreds of millions of profits.

No one would refuse such a good thing.

"Currently, there are four non-executive directors and one executive director. I have drawn up a list and everyone will see if there are any objections."

Lin Zitai looked at Deng Jiahao and asked him to take out the list of people listed in advance and distribute one copy to each person.

Mojin’s four non-executive directors are Liu Shifan from ICBC, Amin Seer from Aramco Group, Lin Muqing, general manager of Mojin, and Li Zhentao from Goldman Sachs. Finally, executive director Su Jiayue and chairman Lin Zitai.

"I'm afraid it would be difficult for Ms. Su to be the only executive director."

Xiaomo's Asia President Wu Xiaohang frowned. He had no objections to the selection of the four non-executive directors.

The only person who expressed dissatisfaction with Su Jiayue's appointment as executive director was that Lin Zitai was the major shareholder and chairman.

He could only express vaguely that it would be best to add another executive director so that Su Jiayue would not be too busy alone.

After all, who doesn't know that Su Jiayue has been Lin Zitai's assistant for the past few years, and the two may have had an affair.

The situation is now clear. Aramco will probably remain neutral, and Mojin’s only foreign director is Li Zhentao of Goldman Sachs.

This is very unfriendly to their foreign capital. They should recruit another ally to slowly gain foreign capital's say in the board of directors.

"I think five people on the board of directors are just right. If there are too many people, it will look bloated. After all, we are a young company."

Lin Zitai looked at Wu Xiaohang: "But since Mr. Wu has objections and we are a democratic company, let's vote by a show of hands."

"If you agree with the four non-executive directors and one executive director on the board, please raise your hands!"

Lin Zi Taitai was the first to raise his hand, and most of the people in the conference room immediately raised their hands to express their agreement.

Lin Zitai's smile remained unchanged and he added, "If you disagree, please raise your hands."

Wu Gang looked ugly. He was the only one in the audience who raised his hand. All other foreign representatives gave up voting, including Li Zhentao.

Li Zhentao shook his head and sighed. Wu Gang's original intention was good and he was also thinking about their foreign investment, but he was too hasty.

Lin Zitai is like an emperor in the company, not to mention that Mojin Drink is about to be launched.

Even venture capital institutions that enter the market with Series B financing will receive no less than four times the income.At this critical moment, he would not touch Lin Zitai's brow.

If you have any objections to the selection of board members, you can wait until the company is listed and the benefits are divided before raising the issue.

Young people are still too eager to express themselves and are a little impatient. It will be difficult for them to take on big responsibilities in the future.

"Then the team of the board of directors will temporarily consist of these five people."

Lin Zitai didn't say anything too harshly, because believing in Liu Shifan and Lin Muqing now does not mean that he can believe in them in the future.

People change, not to mention that Liu Shifan will retire next year. I wonder if the person who will succeed him will still be so friendly.

This leaves some hope for foreign investors, and allows them to check and balance state-owned assets if something unexpected happens in the future.

The board of directors is like a court in ancient times. It requires civil servants and generals to check and balance each other. One family cannot dominate, nor can they be allowed to work together.

Next, Lin Zitai suggested that 3% of the equity subscription qualifications should be injected into the company's option pool to reward company employees in the future.

When a normal company goes public, the company should come up with some subscription qualifications, but Mojin has been established for too short a time and there are no real old employees.

Things that are easy to get are often not cherished. Inject them into the option pool first, and then slowly reward them based on their performance, which also gives them the motivation to strive.

Everyone said they had no objection. Although 3% is painful, it is also an indispensable employee incentive plan for every listed company.

(End of this chapter)