In the morning, half past eight o'clock had passed, and before nine o'clock, all the other guests who participated in the listing ceremony of Ahri Baba on the Hong Kong Stock Exchange had arrived, and Gu Kun was one left.

After all, the bell ringing ceremony is to be completed before the opening of the market at 9 o'clock, generally at 8:50 o'clock, sometimes it is extremely accidental, if there is more than one company listed at the same time on the same day, it will be staggered for a few minutes to ensure that all new shares can be traded normally after the opening.

After everyone else had arrived for a while, Gu Kun sat in his private helicopter lately, and Shi Shiran landed directly on the roof of the Hong Kong Stock Exchange, where he was greeted by a row of people below.

"Mr. Gu, this way, I'm waiting for you. The people led by Ma Feng and Cai Chongxin immediately took a few steps forward, regardless of the fact that the rotors of the helicopter had not completely stopped, and the strong wind brought by the rotation had blown everyone's hair off, especially Ma Feng and Cai Chongxin, who had not had much hair.

"Yo, everyone came so early, it looks like I almost made a mistake. Gu Kun saw the sincerity of the other party's contribution to the helicopter blowing, so he had to put on a little polite corporal posture.

Ma Feng shook hands eagerly and praised him: "Don't miss things, don't miss things, punctuality is a virtue, but those of us who have never seen the world are too calm to come early." ”

Gu Kun accepted it calmly: "Brother Ma is modest, you are talking about something in front of me that you have never seen the world, for individual Chinese businessmen, who dares to say that your Brother Ma has no knowledge." ”

The group went down to the roof of the building in a harmonious atmosphere and went straight to the trading floor.

Ma Feng accompanied Gu Kun on his left hand, and Cai Chongxin on his right. In order to prevent the cold scene, Ma Feng also asked jokingly: "Brother Gu is not the first time to participate in the listing bell ringing, you have been in the depression in the past few years, and we are not the only ones who have won the bid." ”

Cai Chongxin, who was engaged in finance on the side, was more familiar with these details and historical information, and hurriedly explained: "Old Ma, you take what you say for granted, our Ahri Baba has a big card this time - Gu Sheng has not rang the bell for the company's IPO before." Ding Sanshi's Huang Yi, he fell below the issue price after he went public, and when Zhonglian Games went public half a year ago, he didn't go at all. ”

Ma Feng was slightly stunned, and he was also a little flattered, secretly blaming himself for being busy with the company's listing recently, and didn't care about the news of his peers.

It turned out that when Zhonglian Games was listed, Gu Kun didn't even make a show, this is really the glory of Ahri Baba, obviously, Gu Kun is just using the mentality of those game companies after all, taking them to make money, and throwing them away hastily when they have enough.

In the middle of the chat, several people have walked to the trading hall, in the center of the hall is an atmospheric mahogany shelf, draped in red hanging silk, hanging a gong larger than the area of a person, next to a platform, there is a big drum hammer with red silk wrapped in head.

After a process that does not need to be repeated, Ma Feng, who is the seat of the company's board of directors, walked to the podium in high spirits, waved to the left and right in high spirits, and gave an impassioned and short speech to the cameras with long guns and short guns, announcing that Ahri Baba will be officially listed today.

Afterwards, Gu Kun followed the other four people and took the big drum hammer and slammed it on the gong, and the aftermath was deafening.

A few minutes later, as 9 o'clock passed, the price began to be refreshed on the electronic screen.

Except for Gu Kun, the other four people in the same company were still a little nervous.

"The issue price is 15 yuan, and I hope that it will get off to a good start and make the market a little more confident. Ma Feng thought silently.

"Don't worry, I took one last look at the pre-market subscription order, which is 26 times the subscription ratio, and there is no problem with the opening price skyrocketing by two or three percent, and fifty percent is not impossible. "Cai Chongxin is really a financial professional, and he knows how to look at the data, and he already knows it at a glance just now.

The so-called 26 times subscription ratio means that in the backlog of orders that were piled up before 9 o'clock and took effect as soon as the market opened at 9 o'clock, the total expected trading volume of the intention to buy Ahri Baba could reach 26 times the amount of the issuance of Ahri Baba.

For example, Ahri issued 750 million shares at an issue price of HK$15 per share. However, if you want to buy a buy order, there are about 20 billion shares, which can pile up a subscription ratio of 26 times.

Officials who don't know about Hong Kong stocks and only know about A-shares may be surprised when they see this data - they want to buy so many times more than they can sell, so why don't they go up directly?

There is no need to worry, because Hong Kong stocks are very different from mainland A-shares, that is, almost all buy orders have a fixed price that promises delivery, and almost no one piles up the operation of "buy all at the current price" like mainland stocks.

This is because mainland A-shares have price limits, and even if you "buy at all costs" next, it will be at most 10% higher than yesterday's closing price, and you will not make more money. In the same way, if it is "sell at all costs", it will lose at most 9% of yesterday's closing price, and you can't sell it if you want to sell it after the fall limit is closed.

If there is no price limit for Hong Kong stocks, almost all buy orders will be marked with the additional condition of "I only buy below how much".

For example, the issue price of Ahri Baba is 15 Hong Kong dollars, and the 26 times the buy order has about 20 times the scale, and it is only written "if it is less than 18 yuan, buy it all". And when it comes to 20 pieces, the number may be less than 3 times the amount of circulation. In the end, when the actual market opened, those orders that were hung below to make up the number actually had no chance to be delivered, and the ones with the highest direct price were divided by those above.

Therefore, the high subscription ratio seen on Hong Kong stocks does not mean that the stock price will rise wildly, unlike the subscription ratio in the mainland, which is at least one price limit.

"Bang", as the first wave of numbers on the electronic screen jumped out, Ma Feng's heart also contracted violently.

"The opening price is directly 21 Hong Kong dollars, which means that in the 26 times subscription ratio, at least 1 times of the list is hung above 21 yuan before the opening!" Ma Feng's mood stirred for a while, and he quickly relaxed and breathed a sigh of relief.

This is not the end result, it is just beginning.

Many people hang low before the opening just to have dates and no dates, in case they find a leak. Even if you don't pick up the leak, it won't be sold, and there will be no taxes and fees for white hanging, so you won't hang it for nothing.

The key depends on how many people will continue to follow the trend after the subsequent market is refreshed.

No, just five minutes later, there were buy orders that exceeded the size of three or four times the issuance amount, and the price was re-listed. As soon as I saw the opening, it jumped to 21 and jumped 40% directly, and only a few of the remaining lists dared to hang only 22 yuan, and more jumped directly from 2425 yuan.

There was a lot of turmoil, and the few fast-in and fast-out people changed hands, and by half past nine, it had risen to 24 yuan 7.

"Whew, it's only been half an hour since the opening of the market, and it's up 60% of the issue price, it's a big success, and you can drink the celebration wine at noon." ”

......

In the end, the stock price of Ahri Baba on the first day of trading reached 27 yuan 9 before the lunch break, and finally closed at 32 yuan 2 in the afternoon.

On the first day of release, it more than doubled.

Everyone drank very happily at the celebration banquet and slept well in Gu Kun's yacht club villa.

When I got up the next day, I saw that the market continued to rise, and then fluctuated slightly, and it took about a week of trading days before and after it could be regarded as stable and touched a high level.

At the peak, each share touched an instantaneous high price of 47 Hong Kong dollars, which is also equivalent to the temporary market value of the company, which approached more than 50 billion US dollars at the peak - of course, this is only an instantaneous value, except for that moment, the rest of the stable high is about 43 yuan, corresponding to the company's total market value of less than 45 billion US dollars.

At the time of the opening, the market capitalization was only $15 billion, which nearly tripled.

All the retail investors who rushed in on the issuance day made a lot of money.

Even a person like Gu Kun, who knows history, can't help but want to throw away a little cash, but it's a pity that he is the original major shareholder and has a lock-up period, similar to the domestic non-lifting of the ban, so he can only give up for the time being.

He knows that in history, Ahri Baba was listed on the Hong Kong stock market for the first time, but then it rose and fell, and when the privatization was finally retreated, it was exactly the same as the original listing price-

Of course, there are macro factors in this, and that is because the listing of Ahri's Hong Kong stock market in history occurred in 2007, when the global economy was at its hottest, and the mainland's A-shares generally increased by three or four times from 06 to 07. Ahri's delisting occurred in 2011, two years after the outbreak of the subprime mortgage crisis, when the foreign economic situation was not good, and Huaxia also weakened foreign trade, resulting in the consolidation of industries related to foreign trade and B2B.

But in any case, Gu Kun also knows that in the second year (the end of 04) just after the end of the Internet winter, the market must not be calm, and it is easy to overestimate Internet companies. Even if Ahri will definitely rise in the future, this cannot negate the existence of Ahri bubbles at this moment.

Gu Kun estimated that if there was no obvious change in the future subprime mortgage crisis, he would still consider generally reducing his holdings and cashing out a wave of cash before the subprime mortgage crisis, and it was not necessarily just a reduction in Ahribaba, he would treat everyone equally.

In other words, before the subprime mortgage crisis, the crowd online games and Huangyi portal in his hands are also likely to be adjusted. If it really has a future, it's a big deal to absorb some of the status after the subprime mortgage crisis has passed. However, online game companies such as Zhonglian, after cashing out in the future, he probably won't buy them again, after all, it's just a tool stock, and it's just a starting point for Gu Kun to clean up the domestic game industry and guide the development direction of the industry.

There's nothing wrong with fishing and leaving.

......

"I felt as if I hadn't done anything, so I drank and got drunk and slept, and after a week's sleep, the money was 15 billion US dollars more, and the 8 billion Ahri equity became 23 billion. These days are really getting more and more decadent. ”

After staying in Xiangjiang Panhuan for a week, as he accidentally clicked on his stock account to settle accounts, Gu Kun couldn't help but sigh with emotion in life.

It can't be so decadent anymore, although the money from lying down and sleeping will come in billions and billions, but you should still find something to do for yourself.

When the summer vacation is over, let's go back to Lanfang to start work.

Counting the days, after six years of construction, the Lanfang Pagoda is finally about to be officially completed.