Chapter 274: The Battle of Wharf 1
Originally, this was a very happy thing, and Bao Yugang, Dong Haoyun and Fok Yingdong were all excited to hear that the deal was reached. Bao Zixuan only used a pile of soil to replace so much industrial equipment, it seems that the value of this soil is really incredible. The Germans are not fools, they must have decided to exchange because they saw the important value in it. This makes the three of them very optimistic about the future of Bao Huo Dong Company, and the future must be bright.
Bao Yugang came to the UK after successfully completing the loan talks with Shen Bi, and this time he was going to inspect his companies in the UK and order several cargo ships. Trading with the Germans requires a lot of capacity, and even if the two ship kings join forces, they may not be able to adjust. During my time in the UK, I was in a good mood, but the good mood didn't last long, and there was an accident on the Xiangjiang side, which can be said to be a fire in the backyard.
The story takes place in the late 70s and early 80s of the last century, the protagonists are all famous local tyrants at that time, male No. 1 Bao Yugang, the world ship king, one of the most bullish local tyrants in Xiangjiang, in 1978, he sat firmly in the first place of the world's top ten ship kings, the first Chinese director to enter the British-funded HSBC bank, and was knighted by the Queen of England in 76. Male No. 2 Jardine Matheson (and its subsidiary), one of the four major foreign companies in Hong Kong. Male No. 3 Li Superman.
One: Background of the story
Before the big play, explain the background.
Born in 1918 in a merchant family, his father Bao Zhaolong was a perennial businessman in Hankou. At the age of 13, he studied in Shanghai and entered Wusong Merchant Marine College to study shipbuilding, a popular major at that time. After the outbreak of the Anti-Japanese War, he traveled to Chongqing and worked as a small clerk in a bank. After 38 years, he returned to Shanghai and worked in the Insurance Department of the Central Trust Bureau, from an ordinary staff member to the vice president of Shanghai Bank, with a bright future. In 49 years, the sun and the moon changed, and the lord and his father took hundreds of thousands of yuan of savings to Xiangjiang to break into the world.
The gentleman who had just arrived in Xiangjiang started to do a small business and saved some silver. The lord is a native of Ninghai, a child who grew up by the sea, has a deep love for the sea, and proposes to engage in shipping. Although his parents were opposed, the lord was determined, and his friends did not have enough money to make it up, so he went to England for 700,000 US dollars to buy an old cargo ship, dragged it back and refurbished it, named it "Jin'an", and started shipping! In 55 years, the Global Shipping Group was established.
At that time, the shipping industry generally adopted the short-term charter method, which was settled once for a voyage, and the fee was high, and the price could be increased at any time (shipping was very popular at that time). The lord has a unique vision, and adopts a long-term charter method, which leases the ship to others for 3, 5 or even 10 years, and collects rent on a monthly basis. Although the rent is low, the risk is low and the cash flow is stable. Relying on a steady business model, the lord has become the leader of Chinese businessmen and the first person in the world's shipping.
But there is no flower for a thousand days. In the 70s, due to the fourth Middle East war and Iran's civil strife, there were two oil crises, and Western masters began to dig oil fields in their own country. Texas oil fields in the Americas have produced oil, RB began to hoard oil in the early 70s, at the end of the 70s, began to sharply reduce oil imports, the shipping industry was greatly impacted, the lord of the sea ups and downs for decades, the old driver, a look at the signs is wrong, immediately began to withdraw, at the end of the 70s, in the early days of the shipping industry depression, the lord resolutely sold the oil tanker in his hand at a large low price, before the huge waves of the ship disaster hit, lightning beach, ready to land.
Let's talk about Wharf. The history of Wharf can be traced back to 1871, when the British businessman Paul Standard Chartered established the Hong Kong Terminal and Warehouse Company in Hong Kong, and due to land restrictions in Wan Chai, it was moved to the west side of Tsim Sha Tsui, Kowloon in 1875, and later renamed Hong Kong Kowloon Ferry Terminal and Warehouse Limited, referred to as Wharf. In addition to the founder, the major shareholders also include Jardine Matheson and other ocean companies. After Standard Chartered was listed, Wharf fell into the hands of the Keswick family of Jardine Matheson.
The first to ride a horse and drag a knife to kill was Li Chaoren.
It is said that Li Chaoren coveted Wharf, first sent someone to explore the enemy's situation, and the spies reported that the Jardine Matheson Department held less than 20% of the shares of Wharf in total, and as long as he secretly ate 20% of the shares of Wharf, he could start a fight with Jardine. At that time, Wharf issued less than 100 million shares, and the market value of each share hovered between HK$13 and HK$14 all year round, making it a penny stock of the Hong Kong Stock Exchange. By the beginning of 1978, the market value did not exceed HK$1.4 billion, and considering the large area of land and scattered properties at the Wharf Wharf, the value could be at least several times higher, which was obviously underestimated. So Li Chaoren set up a group of dark disks, absorbed them quietly, quietly dripped into the village, and didn't want to shoot them.
But for this kind of penny stocks, Li Chaoren's buying is still obvious, Wharf's turnover began to rise sharply, professional speculators with a keen sense of smell began to move, and for a time there was a killing sound, and by March 1978, Wharf's stock price soared to an all-time high of 46 yuan per share. At this time, Li Chaoren's position was less than 20 million shares, and he felt that the stock price was too high, so he paused for a while, and then increased his holdings of Wharf to 20% at a slightly lower price.
At this time, fools know that someone is going to engage in Wharf, let alone an old driver like Yihe. If Li Chaoren wants to take the Wharf, he can only overlord the bow. But at that time, although Superman was a local tyrant, he was not particularly proud, the ammunition was not particularly sufficient, and the opponent was not good at stubble. Therefore, entering the Wharf is still very difficult for Li Chaoren.
Looking at Jardine Matheson's side, can someone move his own horse, can he stare at it? Jardine Matheson began to copy the guys and go to the market to buy shares held by retail investors at a high price, so as to strengthen their control over the Wharf. Jardine Matheson's cash reserves were also insufficient, and it was unable to increase its holdings of Wharf shares to an absolutely safe level, so in a hurry, it went to Hong Kong's first consortium, the British-funded HSBC, to move troops. It is said that Shen Bi, the head of HSBC, personally mediated and persuaded Li Chaoren to abandon the acquisition of Wharf.
Li Chaoren is a shrewd man, and believes that it is not appropriate to make enemies with Jardine Matheson and HSBC at the same time, and the development of Cheung Kong in the future will also rely on the support of HSBC. If you sweep the face of HSBC, HSBC will lend money to support Jardine Matheson, and it will be no fun to eat Wharf. After weighing the weight, Li Chaoren finally agreed to Shen Bi to stop acquiring Wharf shares. At this time, Li Chaoren has acquired nearly 20 million shares. Is it the largest shareholder of Wharf? Li Chaoren looked confused, because Jardine Matheson has not disclosed the number of shares to be increased.
Li Chaoren sold all his shares to Bao Yugang after the failure of the last sneak attack on Wharf, although it temporarily calmed the worries of Jardine Matheson. However, the Keswick family was even more worried, after all, Bao Yugang's strength was far superior to Li Chaoren's. They can be said to have driven away the tiger, and as a result, attracted the lion. But until there is no better way, we can only endure it.
This doesn't see that Bao Yugang has just come forward to borrow so much money from HSBC, that is, no matter how good Shen Bi has a good relationship with him, it is impossible to favor him without a bottom line, no matter how big a person's ability is, the credit line is limited.
In fact, according to the original script, the battle for the "Wharf" in Hong Kong was Sir Bao Yugang's acquisition of Wharf, which began on June 19, 1980 and ended on June 25 of that year. Wharf belongs to the British-owned Jardine Matheson Group, and in Hong Kong in the 70s, Chinese capital was thin, and Jardine Matheson controlled the company with only 5% of Wharf shares. With the rise in land prices in Hong Kong, the strength of Chinese-funded real estate has increased rapidly. In September 1978, the Chinese-owned Bao Yugang family already owned 20% of Wharf's shares, and he joined the board of directors of Wharf as a major shareholder. Unwilling to accept that its position was threatened, in December 1978, Jardine Matheson's shareholding in Wharf rose to 20%, a number close to that of Pao. This equity control battle lasted for nearly 2 years, and finally a thrilling equity grabbing war broke out in 1980.
On 19 June 1980, Hongkong Land announced that it would purchase additional shares in Wharf on the condition that Hongkong Land shares and a bond be exchanged for Wharf shares, i.e. a consideration of about $100 for a stock price of $77 Wharf shares. The Bao Yugang family immediately fought back. On June 22, Bao Yugang announced that he would bid 105 yuan per share in cash to acquire 20 million shares of Wharf in the market, so that the Bao Yugang family's shareholding in Wharf shares will increase to 49%, and the entire operation will cost 2.2 billion Hong Kong dollars. The next day, in just a few hours, Pao Yugang completed the acquisition of 20 million shares of Wharf stock. Hongkong Land seized the opportunity to sell 10 million shares of Wharf to Pao for a total value of 10. HK$000.5 billion. So far, the Chinese-funded Bao Yugang family has obtained a controlling stake in Wharf.
But now Bao Yugang has already looked for Shen Bi for Bao Huo Dong Mining Company, if he is looking for it, then no matter how big the face is, it may not work, so Bao Yugang, who received the news, didn't know what to do for a while.