Coquettish Rebirth

The process of privatization does not seem to be a big problem, but it has not been smooth sailing.As for some major shareholders who are willing to accept premium recovery, Holmes Company began to negotiate with them on the specific acquisition standard. At least both parties acted as if they could negotiate.But there is an investment company that initially quoted a 3% premium, but they are unwilling to talk about it!He was determined not to lower it!Then don't accept the negotiation!In this regard, the lawyers wondered whether the idea of ​​the investment company was not to sell the shares until the end, and then took the shares to become a member of the board of directors of Sherlock Holmes...

It's not impossible!You should know that although the securities industry in the United States stipulates that 100% of the tradable shares do not have to be acquired, under certain circumstances, if there are only a few individual investors who do not sell their shares, they can also declare their withdrawal through the court. Then, if those who hold very few stocks do not sell their stocks to other companies, they can only conduct over-the-counter transactions—that is, after the stocks are delisted, there is no public price, and they can only Buying and selling stocks with others in private, and the two of them bargained face to face to sell!Generally speaking, individual investors will avoid such a situation, because even if the company holding the stock offers a low price, at least it can be exchanged for money if it is sold to them.But if you don't sell it, how can you have so much time to find a buyer?Who can even guarantee that if a buyer is found, the price will be higher than the company's asking price?And if you don't sell it in one day, and the money for buying stocks is put on the stocks, then it's not money!So basically in the end, individual investors will sell their stocks back to the company similar to being forced to clear the market.At most, it's a lawsuit after the fact!

On the other hand, if a relatively large shareholder holds more shares, if the large shareholder is unwilling to sell the shares, the company may not be able to be privatized successfully.Just like what Jia Hongjian had inquired before, it is not impossible to encounter a thorn in the end and fall short of success!Although the general meeting of shareholders can be held, as long as two-thirds of the people vote in favor of delisting, it can be delisted.But anything can be fought, just like demolition and nail households. Some people have more real estate and want more money.If he doesn't do it well, he will encourage other people to become nail households with him.Ask for more money or something, right?Even if there is a demolition community in other countries in the world, 80% or how many people vote to accept the demolition payment, and the other 20% of people have to agree even if they disagree, but the problem is that if the 20% of people fool the other part people.Let the people who agree not reach 80%?In the final analysis, aren't human struggles all about using so-called promises to pull in neutral factions?

same.According to the lawyer's analysis to Jia Hongjian.The only shareholder who is so thorny, if he dies, he will not sell it, if he can win a group of people.This may really make Jia Hongjian's plan come to an end in the end!This was probably a bargaining chip they used to negotiate. After all, he was not stupid, and there was no need for someone who had no grievances to fight against Jia Hongjian.After all, money is what matters!Then, it is possible that they want to use this kind of coercion to achieve a higher offer.Then such an offer may win the approval of other shareholders, and then cause Jia Hongjian and the others to pay more if they want to go private.

However, it is also possible that they are waiting for an opportunity, waiting for the process to come to the end, and then stand up and say that either everyone cooperates, or no one wants to make money!What does it mean?You must know that privatization and delisting do not necessarily mean that the largest shareholder's family will acquire all the shares!It may also be that several of the largest shareholders jointly acquire other shares, and after privatization, these few shareholders are in charge!So this investor, maybe he was very optimistic about the future and potential of Holmes Company, so he simply wanted to stand up as a serf and sing, and directly hug Jia Hongjian's thigh forcibly, and let Jia Hongjian lead them to make money!

Why such an analysis?Because no one is stupid!Couldn't they analyze that Holmes Company is now privatized and delisted because it has seized an opportunity where the paper value of the stock is lower than the actual value of the company?You must know that this kind of delisting was done by the Americans first!When a company encounters various problems, which may be caused by the general situation or other problems, the stock price on paper is actually completely lower than the actual value, and then the capitalists in the United States come up with privatization Delisting is equivalent to buying it at a relatively cheap price, and then re-listing after a few years when the performance is good and the situation is good, and make money again!

Still using Sherlock Holmes as an example, in fact, Jia Hongjian can really take advantage of this opportunity to re-privatize the company with 03 to 04 million US dollars, so no matter how much money we made in the first IPO, we will spend this time After the market recovered in 30 and 30, after a few years of operations to make Holmes stronger and stronger, it went public again, even if it still took out about 20% of the outstanding shares for sale. , it is not impossible to mix 5 billion or more?It is equivalent to making more than [-] billion US dollars just by going back and forth like this!And only three or four years!Earn an average of [-] million a year, and basically don't have to worry about anything, just wait for time!How tempting is this?

So for that thorny investment company, he analyzed that the only way to make money is not to sell stocks, because the current price is close to the bottom, and no matter how you sell it, you will lose money.And he doesn't have any performance requirements like other investment funds, they don't have clients yet!So don't they just hold on to the stocks and make money?If Sherlock Holmes goes public again in the future, they will be able to make more money selling it at that time than they are now!In other words, if Sherlock Holmes just wants to be privatized and delisted, then their company is reckless and won't sell it. Then, Holmes will pay them dividends every year?This dividend is not a lot, okay!Looking back and waiting until a few years later, and then selling the shares to Jia Hongjian, the boss of Holmes Company, through an over-the-counter transaction, then you can ask for a price at will, can't you?There is no public price at all!

From a certain point of view, it seemed that Jia Hongjian was being blackmailed by others, which was disgusting.But actually.Jia Hongjian's client did a little research and found out that he had no choice but to do so -- he spent a little bit of real money to enter the market when the stock price of Sherlock Holmes was rising all the way a few years ago!People have spent hundreds of millions of dollars before and after, but now the stock price has fallen, and the drop is only one-tenth. Is it a loss?Doesn't it hurt people?Originally, such a stock market was like a game of beating drums and passing flowers to see who is the stupidest, but in the end, an investment company of their size has become the biggest fool. Who can bear this?For others, there is no pressure to give customers an explanation.Doesn't everything have to be paid back at least?Hundreds of millions of dollars were thrown in.Just change tens of millions of dollars to play now?And even knowing that Holmes' company was undervalued due to the general environment?You can't take advantage of it like this!

In fact, the investment company lost money, but it wasn't Jia Hongjian who made the money.How much money did Jia Hongjian make in total when he did the IPO?Only half of what you're ready to spend now?Over the course of these years.Although the stock price has been rising all the way.But this is the same as the rise in housing prices.That's paper wealth!If we want to live in this house, the housing price will skyrocket and we won’t be able to live in it?Unless the house is sold, is the house price equal to the money in your own pocket?

The same goes for Jia Hongjian and the others.Jia Hongjian made a small fortune in the first wave of IPOs, but during the process of the stocks rising in the middle, he has not sold the stocks much, so in fact, he is just a group of stockholders and investors who bought the stocks at first and then sold them. earn the most!Of course, it would be a problem if Jia Hongjian sold his shares—according to the rules of the United States, he was not allowed to sell his shares when he was on the board of directors, because he was easily suspected of manipulating the stock price.Easy to announce all kinds of good news on his own side, while secretly ordering takeaways, but the company is not that good at all.According to the regulations in the United States, you must leave the board of directors before you can sell the stock!That is, the stock can only be sold after it has no influence on the company.Naturally, it is impossible for Jia Hongjian to have no influence over Holmes Company!

So, if you think about it carefully, this thorny company is also a tragedy. He missed the most profitable opportunity, but he caught up when the stock price fell.As for this, Jia Hongjian thought for a while, and he actually didn't hold too many stocks, about 7.5% of the shares.As for such a share, to be honest, even if it is to bring others to make money together, it is not a particularly big deal.For example, if Sherlock Holmes is privatized, about 10% of the cash will be used for dividends every year.Even if he has his own thigh, he only holds 7.5% of the shares. Even if he pays a dividend of 800 million US dollars a year, it will only be [-] million US dollars in his hands.And how much has people invested?How many billion!In other words, it will take decades to earn back the cost, and the family is also very tragic, okay!

Of course, Jia Hongjian didn't mean to burn too much money, even if he didn't have much relationship with each other, he was willing to lead others to make money like this. Jia Hongjian was never an angel!Even if it has a good reputation in the country, it is also for marketing to consumers, for building a brand, and establishing a "culture" other than the brand that is linked to Apple and high-end brands!He never said that he should be unconditionally nice to everyone!In fact, as a major shareholder, even if the other party insists on privatizing with Jia Hongjian, it would be too easy for Jia Hongjian to punish the family afterwards—to dilute the shares!

As a major shareholder, he can keep increasing capital if he has nothing to do. Anyway, their Jia family is the richest Chinese family in the world!He doesn't count on Holmes' dividends to eat!He takes out the dividends given by Holmes Company every year and injects them into it. If the other party wants to ensure that the shares will not be diluted, they must also fill in all their dividends!The number of years for the other party to pay back will increase even more!Anyway, Jia Hongjian is not afraid, he has plenty of time!He is only in his 20s this year, and he can play until he is a hundred years old!Anyway, he retired after 2012, and here he is as the chairman of the board of directors, and he will increase his capital every year for fun!Come here every year at the end of the year to increase capital!Is this investment company following or not?

Even Jia Hongjian introduced other investors—such as his father, such as his mother, etc., and each of them raised hundreds of millions of dollars every few years to increase capital, directly diluting the shares!In addition, when Jia Hongjian was running the company, all the top executives of the company were Jia Hongjian's people. Wouldn't it be easy for him to pay so little dividends without making fake accounts?Every year after we make a profit, we spend a lot of money in the research and development field, the more we earn, the more we spend!Wouldn't there be no money to pay dividends in this way?If you really want to fix them, it's really a simple mess!

For example, Mark Zuckerberg, who made "must die" in history, was originally a company with a friend, and the friend's shares accounted for one-third, but after several rounds of dilution, the friend inexplicably I found out that my stock was only 4%!So, Jia Hongjian is not afraid of this company, everyone will come and play if it is great!Let's see who can't stand it!His family has a big business, anyway, he doesn't rely on Holmes' company to make money to support his family, and he doesn't even need to expect to invest in Holmes' small money to get back his capital!So if you don't want to be strong, it depends on how much the investment company offers.The asking price is a little more reasonable, we can compensate something in private, and just buy their shares.If they are really shameless, then we will let them never get back the hundreds of millions of dollars they invested in for a lifetime! (To be continued..)