Capital.

Yimin Wangjin conference room.

"Are you ready? guys. ”

A man in his forties, with a big blonde hair and blue eyes, made a humorous joke.

The executives around the big table in the conference room laughed, and Fan Hongyang said:

"It's all ready, this time I need a lot of help from Mr. Robert!"

"There is absolutely no problem with this, and choosing us Goldman Sachs as the lead underwriter is definitely the wisest choice, and there is no one.

On Wall Street, we Goldman Sachs stomp our feet, and the ground has to shake three times.

Yimin Netgold is listed, and we will definitely strive for a satisfactory issue price for everyone.

Blessings to all of you, multimillionaires and billionaires of the future.

After the listing, if you have any financial needs, you can also find our private banking department of Goldman Sachs to provide you with the best quality financial services. ”

Robert, a foreigner from Goldman Sachs' headquarters, knew that this group of people was about to get rich, as is the case with many Internet companies in Silicon Valley.

Start a business in the garage, after three or five years of struggle, and then go to the exchange to ring the bell, become famous, and be free in wealth.

However, when he got the information of this Yimin Netgold Company, Robert was also taken aback.

Founded in November 2013, it has only been in operation for 20 months since June 15, less than two years.

Is this the so-called Chinese speed?

What a magical land!

Robert turned his gaze to Zhang Yida, who was sitting in the first place, looked at his slightly green face, and recalled the record in the source:

Zhang Yida, male, 20 years old, chairman of Yimin Wangjin, holds 55.71% of the company's shares......

He is also said to have a fintech company valued at more than $10 billion, and is also the chairman and major shareholder.

Are there any Western peers who have achieved such a high level of achievement from scratch?

Not a single one!

It may be comparable to Zuckerberg, the founder of Facebook.

It's a legend, it's so topical.

Goldman Sachs holds a 20% stake in Yimin Netgold and spent a full $444.42 million for this stake.

After throwing so much money in, it is natural to earn it back in the IPO.

The lead underwriter is only the first step, and it will be enough to make tens of millions of dollars.

The bulk of the profit has to be the 20% equity.

Therefore, Goldman Sachs sent Robert over to be responsible for counseling Yimin Net's listing matters, and also had a task - to invite Zhang Yida to the United States as a guest.

"Mr. Robert, do I have to make a trip to America?"

Zhang Yida rushed back from Singapore because of this incident.

"Yes, Mr. Zhang, as the founder of the company, you are a legend in yourself.

Before going public, go to the roadshow in various places and be interviewed by some media.

It will help to improve your fame and will also give Yimin Huijin more exposure.

This is also good for IPOs, Yimin Netfinance can raise more funds, and the market value will also increase a lot. ”

The Goldman Sachs Group behind Robert had already planned to treat Zhang Yida as China's "Zuckerberg" as soon as he arrived in the United States.

Self-made, two years in business, worth billions of dollars.

At the same time, he is also an environmentalist, and founded Huimin Bicycle, which has changed the way Chinese people travel, reduced carbon emissions by tons and made outstanding contributions to the protection of the earth.

Goldman Sachs also helped Zhang Yida run several environmental awards, and when he arrived in the United States, he began to award them.

In addition, Zhang Yida's "Benefiting Farmers Loan", they are not ready to let it go.

The Chinese protégé of the Nobel Peace Prize laureate, Dr. Yunus of Bangladesh, is Zhang Yida.

Zhang Yida's touching deeds, they have already choreographed.

Keen on public welfare, it has led hundreds of thousands of poor rural households in mountainous areas of China to become rich......

This aura is given to Zhang Yida's hijab, what is the effect?

Goldman Sachs Group believes that it will receive a satisfactory answer on the stock price.

"Hmm...... Let's go! It's still early, don't worry, let's straighten out the matter of the prospectus first!"

At the roadshow site, Zhang Yida is definitely going to go. By the way, accept the media interview arranged by Goldman Sachs, as long as it is beneficial to the company, Zhang Yida has no reason to refuse.

"Okay, in addition to our Goldman Sachs as the lead underwriter, you also need to pick 2-3 underwriters, do you have any objects to consider?

If not, we at Goldman Sachs can recommend two for you. ”

Robert was very enthusiastic and thought to himself: if we come to recommend, we can earn another referral fee.

"Oh...... Thank you, Mr. Robert, for your kindness. But no.

I have already found CICC Securities and Huaxing Capital, and the two of them will be responsible for the underwriting of Yimin Wangjin's listing together with Goldman Sachs. ”

Zhang Yida is not stupid, he asked Goldman Sachs to recommend a brokerage to him, and he was afraid that he would kill himself in series.

The main fees that need to be paid for public offering financing in the United States are underwriting fees, and others such as attorney fees, audit fees, and roadshow fees are all small.

"By the way, Mr. Zhang, the commission we get from listing is 8% of the financing amount, which is no problem!

If it's all right, let's sign the agreement first!"

Robert got up and was about to get the agreement, but Zhang Yida stopped him and asked:

"Are you sure, Mr. Robert?

I have inquired about companies listed on Chinese concept stocks, and the commission is generally 5%-6%.

You Goldman Sachs are so ruthless, you want to charge me 8%?"

Zhang Yida felt that he still underestimated the greed of these Wall Street giants, and he was still a shareholder of the company, and he looked so ugly.

"Mr. Zhang, you have misunderstood. Generally, the underwriting commission for the listing of Chinese concept stocks is indeed 5%-6%.

But are those of them successful enough to go public?

We charge 8% for a reason, first of all, we'll take some of the money out of it to help you run popularity in the United States.

It costs money to invite the media and win awards.

But this money is not spent in vain, and the money spent will eventually be "earned" back through higher financing amounts.

There is a famous saying in your China, which says that a reluctant child can't trap a wolf. ”

Robert worked in China for a few years and taught Zhang Yida.

"It's too high, when it was listed, it raised more than $1 billion, and it was only 60 million underwriting fees.

I'll give you a maximum of 6% of the underwriting commission, and if it's more, then I'll change the underwriting broker.

I think **** and Morgan Stanley will be willing to take this business. ”

Seeing that Zhang Yida was angry, Robert also lowered the price to 7.5%.

Then Zhang Yida and he went back and forth, arguing for a long time, and finally talked about the price to 6.5%.

After the brokerage firm was confirmed, Yimin Netfinance began to hire a team of lawyers and accountants.

The lawyer team hired two, one for domestic and one for overseas.

Domestic lawyers are responsible for legal due diligence, issuing legal opinions on the management of state-owned equity and the establishment of joint-stock companies, assisting enterprises in communicating with regulatory authorities on legal issues related to restructuring, and drafting articles of association.

The foreign lawyer issues relevant legal documents on whether the listing conditions of the overseas listing place are met.

PricewaterhouseCoopers (PwC) is invited by the international accounting firm to issue the financial audit report, capital verification report, financial audit report during the company's preparation period, and management proposals, and evaluate the company's internal control.

More than a week later, a financial audit report from inception to operation to the present was released.

Including 14 annual financial statements and 15 quarterly financial statements.

For the whole year of 14 years, the revenue was 1.854 billion and the net profit was 394 million.

In the first quarter of 15 years, the revenue was 1.122 billion, a year-on-year increase of 731%, and the net profit was 314 million, a year-on-year turnaround, compared with a loss of 38.52 million yuan in the same period last year......

In the first quarter of 15 years, 12 billion yuan of new funds were matched on the wealth management side, an increase of 650% over the same period last year......

In the first quarter of '15, the borrower side added 7.5 billion yuan in loan transactions, an increase of 764% over the same period last year......

The number of active users on the wealth management side reached 264,000, an increase of 51,000 from the previous quarter......

The cumulative number of borrowers on the loan side reached 398,000, an increase of 147,000 from the previous quarter......

There are 138 loan stores, covering 116 cities across the country, and employing 7,318 people......

The total assets are 5.265 billion yuan, the total liabilities are 2.561 billion yuan, and the net assets are 2.704 billion yuan......

It includes 4 subsidiaries, including Yimin Wealth Management, Yimin Inclusive Finance, Yimin Financing Guarantee, and Yimin Online Small Loan.

It has a 10% stake in Bukalapak, an Indonesian e-commerce company.

......

After repeated confirmations, Yimin Netfinance submitted its first prospectus to the SEC:

The stock code is "YM". Yimin Netfinance plans to raise US$500 million this time, and the underwriters are Goldman Sachs, CICC Securities and Huaxing Capital.

Summary of the prospectus:

As of March 30, 2015, we are the leading P2P financial platform in China......

Our Eagle Eye credit assessment engine can predict each customer's revenue potential and behavior through sophisticated algorithms and dynamic models.

Using 5,000 latent data variables, we have developed more than 1,000 decision rules and accumulated a large amount of proprietary data from more than 10 million customer loan applications.

Customer behaviour and risk profile data allow us to develop machine learning to improve our risk management capabilities.

Because of automation and our data capabilities, we are able to conduct a more comprehensive credit analysis of our customers than traditional financial institutions......

Since our inception, we have rapidly scaled the size of our platform.

From our inception in November 2013 to March 30, 2015, we have disbursed RMB 20 billion (US$3.27 billion) in loans.

In 2014 and the first quarter of this year, we disbursed RMB12 billion (US$1.96 billion) and RMB7.5 billion (US$1.23 billion) of loans, respectively......

As of December 31, 2013, December 31, 2014 and March 30, 2015, our outstanding loan principal balances were RMB0.5 billion, RMB9.9 billion (approximately US$1.62 billion) and RMB14.8 billion (approximately US$2.42 billion), respectively.

Diversified Funding Channels: As of March 30, 2015, 12 billion yuan of our loan funds came from online investors, accounting for 81% of the outstanding loan principal.

2.5 billion yuan of funds came from banks, trusts and other institutions, accounting for 16.9% of the outstanding loan principal.

300 million yuan of funds came from its own funds, accounting for 2.1% of the outstanding loan principal.

The successful execution of our strategy is subject to risks and uncertainties associated with our business, including:

Laws and regulations for the P2P financial industry......

......

After the prospectus is submitted, it is necessary to wait for a response, and under normal circumstances, the first opinion letter from the SEC will be received 4-6 weeks after the initial submission of the report.

It mainly indicates how SEC members believe the company should amend the prospectus to make it more complete and accurate.

The company then amends its registration based on the SEC opinion letter.

After the SEC completes the review, it will start the roadshow, and after the roadshow is completed, it will be officially listed.