On September 20, the magnesium group review was officially listed on the Hong Kong Stock Exchange

The issue price was HK$69 per share and the opening price was HK$72.9 per share, an increase of 5.6% from the issue price, with a total of 480 million shares issued and a market capitalization of approximately US$48.3 billion.

Zhang Yida stood under the stage, looking at Huang Xin, Wang Huiwen and others who enjoyed cheering on the stage.

The magnesium group is very interesting, and a takeaway brother named Qiu Xuexue was selected to ring the bell on behalf of the nearly 600,000 delivery riders of the magnesium group.

Zhang Yida is thinking about which representatives to be invited to Ruixiang Listing, such as Dododo farmer sellers, Douyin content creators, and mobile payment contract merchants......

Just when Zhang Yida was there to applaud and celebrate the success of the magnesium group's listing.

The bald head Bao Fan led the group over, and the first person was a middle-aged man in a suit with extraordinary momentum.

Zhang Yida recognized at a glance who it was - Li Jia, CEO of the Hong Kong Stock Exchange.

This is also the first non-Hong Kong person in the history of HKEX, and he is also the head of the company with a mainland background.

Zhang Yida was a little surprised, why did this person come over?

After Li Jia and his entourage sent their blessings to the magnesium group management team led by Huang Xin, they exchanged a few words of greeting and walked straight towards Zhang Yida.

Li Jia handed out his right hand, "Hello Mr. Zhang, I'm Li Jia!"

Zhang Yida shook his hand, "Mr. Li, I'm glad to be there!"

Li Jia glanced at the noisy bell ringing scene, which was full of various media, reporters, and financial people.

said with a smile: "Mr. Zhang, it's inconvenient for Fang to chat a few words." ”

"Okay!"

Zhang Yida readily agreed.

In a VIP room of the Hong Kong Stock Exchange, Li Jia and Zhang Yida chatted while drinking tea.

"Ruixiang has been established for five years, right?"

Zhang Yida nodded, "Strict, it's still a month away." ”

Li Jia pursed his lips and sighed after a while, "59 months, 1.6 trillion Hong Kong dollars valuation, it's really not simple!"

I am also very proud to see so many excellent technology companies emerging in my motherland!"

Zhang Yida had basically guessed Li Jia's intentions, especially the clever use of the "Hong Kong dollar" unit.

However, he is the kind of person who does not see rabbits and eagles, and if he does not take some benefits, he will not easily agree to choose the Hong Kong Stock Exchange

"Now that the sweater war has been fought, Americans are becoming more and more wary of Chinese technology companies.

Ahri and they all have the idea of a secondary listing on the Hong Kong Stock Exchange, which shows that they are still more down-to-earth in their own places. ”

Zhang Yida said with a smile: "The Hong Kong Stock Exchange is still too conservative for new economy companies, and e-commerce companies like ours are still losing money.

Listed on the Hong Kong Stock Exchange, it may be difficult to obtain the ideal market capitalization. ”

Li Jia shook his head and did not approve of Zhang Yida's method.

"Penguin's PE is much higher than that of Ahri, and the New York Stock Exchange is not necessarily better than the Hong Kong Stock Exchange. ”

Zhang Yida admitted that in emerging industries such as information technology, the PE multiple given by the Hong Kong Stock Exchange is not lower than that of the New York Stock Exchange.

In addition, the cost of listing in Hong Kong is also lower, including initial listing fees and intermediary fees, as well as annual fees are much lower than those of the New York Stock Exchange.

There are also shortcomings, mainly: the scale of the capital market is relatively large, the short-term profitability requirements are high, the overall valuation level is low, the IPO financing ability is weak, and the ability to enhance international visibility is weak.

"Mr. Li, I understand yours, and I will consider it carefully. ”

Seeing that Zhang Yida seemed to be leaving, Li Jia was a little anxious.

The Hong Kong Stock Exchange is also a company, and it also needs to sharpen its reputation for such a large-scale IPO, which is rare in the world.

In any case, we must try our best to strive for Ruixiang to remain on the Hong Kong Stock Exchange

Thinking of this, Li Jia decided to show his sincerity.

"If Ruixiang chooses to be listed on the Hong Kong Stock Exchange, I will apply to the company and all listing fees will be halved. ”

Zhang Yida was quite satisfied with Li Jia's attitude, and he didn't care much about halving the cost.

What I care about is the importance of the Hong Kong Stock Exchange to Ruixiang, the other party attaches importance to Ruixiang, and Ruixiang can also get some resource tilt.

"I heard that the Hong Kong Monetary Authority intends to open up applications for virtual banking licenses?" Zhang Yida asked lightly.

The so-called virtual bank in Hong Kong is a bank that provides services through the Internet or other forms of electronic transmission channels, does not have physical outlets to reduce operating costs, and can provide 24×7 services;

Mainly targeting individuals and medium-sized enterprises, it provides retail services such as deposits and withdrawals, loans, settlements, foreign exchange, investment and wealth management.

It is similar to the definition of domestic Internet banks, but the name is a little different.

Zhang Yida listened to a large number of powerful companies such as Leech Financial, Penguin, Goudong Financial, Rice Finance, Ctrip Finance, Anping Insurance, Zhongan Insurance, Standard Chartered Yinxiao, Bank of China Hong Kong, PCCW and a large number of other powerful companies are interested in this license.

These companies are either local snakes or large-scale fintech companies.

Ruixiang competes with them, and the advantage is not particularly large.

And Hong Kong is so big, the license is very limited, it is rumored that the first batch of licenses may only be approved 3, and the application of more than 30 companies, each of which has some origins.

Therefore, in order to increase the probability of approval, major companies have formed alliances with each other and plan to apply for this virtual banking license in the form of joint ventures.

This virtual bank may not make much money, but it can explore the experience and replicate it in other countries and regions in the future.

This alone makes many fintech companies unable to hold back, and Ruixiang is no different.

Li Jia frowned, he was thinking about the meaning of Zhang Yida's words.

Is this a virtual bank license?

However, the HKMA and the Hong Kong Stock Exchange are not subordinate to each other, so his words may not be easy!

"Mr. Zhang, Hong Kong does plan to open up applications for virtual banking licenses, but the HKMA is issuing licenses, and I may be able to help introduce one or two.

More often than not, the HKMA needs to review the company's qualifications, size, technology level, financial experience, etc. ”

Zhang Yida shook his head, "Mr. Li, you misunderstood, I didn't mean that."

What I want is to invite the Hong Kong Stock Exchange to join in and apply for a virtual banking license with Ruixiang. ”

Li Jia understood Zhang Yida's intentions, this is to pull the Hong Kong Stock Exchange and increase the probability of passing the review.

If the Hong Kong Stock Exchange joins, it will still be used, and one of the three licenses must be obtained.

What a good calculation!

Li Jia can be regarded as having appreciated the means of this Mr. Zhang, tying up the listing place with the virtual bank, and will do business.

"I am in favor of this matter in principle, I don't know how to distribute this share ratio?"

Li Yijia thought about it for a while and decided to agree.

"How about 73? You don't have to worry about technology at all, the Hong Kong Stock Exchange is just waiting for the dividends. ”

Li Jia chuckled, you're really welcome, you have to dominate and absolutely control.

"Why not 51?" asked Li Jia rhetorically.

Zhang Yida spread his hands, "After all, the main business of the Hong Kong Stock Exchange is not a bank, and Ruixiang needs to assume many functions such as development, operation, and management.

An extra 20% isn't a lot. ”

Li Jia didn't do anything more, but started to go public.

"That's where you always look at the listing......"

"It's Hong Kong!"