On October 18, Miao Installment Group was officially listed on the New York Stock Exchange with the stock code "MFQ".

Miao Installments Group issued 37.5 million American Depositary Shares at a price of $24 per share, raising $900 million, making it the fourth-largest equity offering in the United States this year.

The high-spirited Lu Min stood on the bell ring platform of the New York Stock Exchange, and a group of shareholder representatives such as Leech Financial, Kunlun Wanwei, Phoenix Xiangrui, Guosheng Financial Holdings, Source Code Capital, and Lanchi Venture Capital stood beside him.

The opening price of Miao Installment was $34, and then it skyrocketed, and the company's market capitalization once reached $11.698 billion.

It surpassed many well-known Internet companies such as Sina, Sohu, 58.com, Cheetah, Momo, Vipshop and Autohome, and ranked 7th among Chinese Internet stocks.

It also surpassed Yimin Netfinance, which was frequently reduced by Zhang Yida and its market value fell to US$7.452 billion, ranking first in the market value of listed mutual finance companies.

Lu Min holds 21.6% of the shares of Miao Installment, and after listing, he immediately changed from a young man in a small town to the CEO of a listed company worth tens of billions, a young talent.

Then investors began to pretend to be forced.

Zhou Yahui, chairman of Kunlun Wanwei, wrote more than 10,000 words of investment insights and posted them in the circle of friends, reviewing the investment process of wonderful installments.

Wu Shichun of Meihua Venture Capital: Miao Installment is another investment case with a return of more than 1,000 times.

Lu Min also shouted his slogan: before the company reaches a market value of 100 billion US dollars, it will not receive a penny of salary.

The media is very interested in this "Internet celebrity" company, starting with a campus loan, investing in Leech Financial Services, and completing the transformation from a start-up to 10 billion US dollars in three years and seven months.

In the face of various digging questions from the media, Lu Min gave an interesting answer.

"Have you lent money to students?"

"I borrowed it 15 years ago, but it didn't make money, and I lost hundreds of millions, and then the state stopped ......"

"Have you deliberately instigated people to borrow money from relatives and friends when they can't afford to pay it back, and borrow money from other platforms to repay your money?"

"Nope. If they are not repaid after the due date, we have bad debts here, and our bad debts will not urge them to repay the money. Won't call them. If you don't pay it back, forget it, and give it to you as a benefit. That's it. ”

"Are you guys **?"

"It's not because we're **. It's because of our business model. Our bad debt ratio is less than 0.5% ......"

Lu Min faced the reporter's interview, and it seemed too hypocritical.

When the news came back to China, it immediately caused a monstrous controversy.

Some people believe that Lu Min's rise is carried with original sin, immoral, and can be called black gold.

Some people also think that in this era when it is difficult to have a noble son from a poor family, Lu Min, whose father is a farmer and whose mother is a primary school teacher, has given great encouragement to grassroots entrepreneurs.

"Wonderful installment listing, after tens of billions of dollars, wealth finally washed away the original sin"

"Domestic Criticism, International Pursuit, The Original Sin Behind the Wonderful Phased Listing"

……

Lu Min and his company have contributed a series of explosive articles of 100,000 plus to China.

At the same time, many domestic cash loan entrepreneurs have also set their sights on Miao Installment.

The listing of Miao Installment has given them great encouragement, and countless cash loan companies are already on the way to listing.

Zhang Yida watched all this coldly. Ruixiang invested 8 million yuan in installments and earned 2.12 billion.

Among them, 1 billion yuan was allocated to Ruixiang Public Welfare Foundation for afforestation and rural poverty alleviation.

Many foreign shareholders expressed their opposition and incomprehension of this matter.

Originally, Zhang Yida wanted to donate it all, but too many shareholders objected.

In the end, the amount was reduced to 1 billion yuan, and the resolution of the board of directors was passed.

Stimulated by the good news brought by the wonderful installment, the stock prices of Yimin Net Finance, Yimin Loan, and Yimin Wealth have all risen in a wave.

But Zhang Yida's instructions to the people in the family office were: to reduce their holdings.

So the stock price was knocked down by his reduction again, and it fell a lot.

On the third day of Miao's phased listing, the Southeast Asian "Little Penguin" Sea Group, in which Ruixiang became a shareholder, was also listed on the New York Stock Exchange.

The company's main business is gaming and e-commerce, and it has performed well on the market, with a market capitalization of more than $5 billion.

Penguin, with a 39.7% stake in the company, was the biggest winner.

After several rounds of co-investment, Ruixiang also holds 5.67% of the shares of Sea Group, and the return on investment is not high, and it is still close to doubling.

Zhang Yida knew that the company still had a lot of stamina and decided to hold this part of the equity for a long time.

At the same time, Sea Group is also the Southeast Asian agent of PUBG, and the strategic partnership with Blue Hole has also been transferred to Zhonghe Group with mergers and acquisitions.

On the eve of the listing, Li Xiaodong also called Zhang Yida and asked the latter if he wanted to ring the bell together.

Zhang Yida declined Li Xiaodong's invitation, there was no need to join in the fun.

……

Lee Tae-hee, the founder of OYO India, came to Beijing. The Indian market was almost occupied by him, so he decided to enter China.

Since you want to come to China to mix, you naturally have to come out and say goodbye to the pier.

As the host and a shareholder of OYO Hotels, Zhang Yida invited him to visit Ruixiang Group and Zhonghe Group.

Although far away in India, Lee Tae-hee has also heard of these two super unicorns.

"I heard you're at war with the $400 billion Penguin Group?"

Zhang Yida did not reply positively, but said with a smile: "Xiao Li, you are very well-informed!"

"It seems to be true, Mr. Zhang, your courage is really admirable!"

Zhang Yida waved his hand, his face gradually becoming serious, "If the emerging forces want to rise, they must subvert the traditional forces. ”

Lee Tae-hee nodded, agreeing with this sentence. Their OYO model is also to subvert traditional forces.

"Mr. Zhang, if I introduce the OYO model to China, will I be counterattacked by traditional forces?"

Zhang Yida smiled and joked: "What do you say?"

Lee Tae-hee nodded, indicating that he understood.

"Mr. Huang Xin from the magnesium group and Mr. Liang Jianzhang from Ctrip, these two, Mr. Zhang, can you help me introduce them?"

It seems that Xiao Li still did his homework and knew which temples to worship.

Zhang Yida smiled and said, "No problem! I'll make an appointment for you later." ”

"That's great, thank you so much!"

Zhang Yida smiled: "We are friends!

Then Zhang Yida took Lee Tae-hee to eat authentic Beijing roast duck.

Lee Tae-hee ate with a mouth full of oil and said with a smile: "This is definitely the most delicious food I have ever tasted, better than the curry in our hometown." ”

Zhang Yida laughed and said, "Really? Then I'll order another one." ”

Lee Tae-hee burped, he ate two, and quickly waved his hand and said, "No need, I'm full." ”

Zhang Yida sighed, "Xiao Li, I may want to sell my shares in OYO." ”

"Huh?"

Lee Tae-hee was a little surprised, he didn't understand why Jang Yida did this.

Zhang Yida said: "Zhonghe Group has encountered a lot of financial pressure, and I can only raise funds everywhere. ”

Lee Tae-hee somewhat understands Zhang Yida, how difficult it is to face a behemoth worth hundreds of billions of dollars.

"Okay, who are you selling the shares to?"

Zhang Yida said with a smile: "I have negotiated with Mr. Son Masayoshi that SoftBank Vision Fund is willing to take over these shares. ”

When he heard that it was Son Masayoshi and SoftBank, Lee Tae-hee breathed a sigh of relief. SoftBank itself is a shareholder of OYO and a key supporter of it.

Zhang Yida transferred his equity to SoftBank, and he had nothing unacceptable.

It is the absence of such a well-connected shareholder as Zhang Yida in China, which is somewhat detrimental to the development of OYO!

The next day, Zhang Yida took Xiao Li and met with Huang Xin and Liang Jianzhang.

Huang Xin and Liang Jianzhang sold Zhang Yida's face very much and agreed to establish cooperation with OYO.

At present, OYO does not have its own OTA platform, and it does not pose any threat to Magnesium Group and Ctrip.

But Zhang Yida knew that Xiao Li was also an old coward, and wanted to roll out the hotel offline first, and then provide one-stop travel solutions, including hotels, tour guides, catering, air tickets and visas, etc.

Isn't this forcing OTA giants to ban OYO?

The two sides tore their faces apart, at least for next year. Zhang Yida can't manage it so much, and when the time comes, the equity will be sold, and it has little to do with him.

After negotiating the cooperation with Lee Tae-hee, Zhang Yida completed the equity transfer with SoftBank's people.

At a valuation of $2 billion, it sold its 16% stake in exchange for $320 million in cash.