The box office market is vigorous and vigorous.

Prada's cross-border marketing has also played well and has become a textbook classic case.

However, for New Globe, the biggest event this summer is undoubtedly the listing!

Normally, a company's second quarter report will be released in August or September, because the second quarter counts data from April 1 to June 30.

The larger the company, the longer the statistics will take.

Many large multinationals do not even release their second-quarter financial statements until November.

New Global is different, everything is in preparation for listing!

On July 16, New Global's financial statements for the second quarter were released!

Total revenue of $24.16 billion!

Among them, the revenue of the film and television entertainment division was 5.44 billion US dollars, the revenue of the interactive entertainment department was 8.75 billion US dollars, the revenue of the television media department was 4.34 billion US dollars, and the revenue of the consumer goods department was 5.63 billion US dollars.

It is worth mentioning that in the interactive entertainment division, the global sales of Dolby DVD players reached 3.28 million units, generating revenue of $4.26 billion and achieving a gross profit of $3 billion! Even Blizzard Entertainment also generated revenue of $1.84 billion and a gross profit of nearly $200 million.

Among them, the film and television entertainment division spent 3.87 billion US dollars, the interactive entertainment department spent 4.45 billion US dollars (2.5 billion US dollars for research and development expenses), the television media department spent 2.28 billion US dollars, and the consumer goods department spent 3.87 billion US dollars...... Quarterly expenses were $14.47 billion.

Combined with debt interest and corporate income tax totaling $5.65 billion, New Global's total expenses in the second quarter were $20.12 billion!

Net profit in a single quarter exceeded $4 billion!

As soon as this data came out, it directly shocked the entire Wall Street!

What an exaggeration!

For companies with positive returns, the net profit multiplied by the price-earnings ratio is the market capitalization.

The price-to-earnings ratio of the film and television entertainment industry is not high, averaging around 25.

The hardware industry has a low price-to-earnings ratio of around 18 on average.

The price-to-earnings ratio of the Internet industry is extremely high, generally exceeding 80. It is normal for potential stocks like Netflix and Facebook to have a price-earnings ratio of more than 100, which means that if you earn 1 yuan, you can leverage 100 yuan of capital, and the bubble is very large.

The price-to-earnings ratio of the TV media business is also not high, that is, around 20.

The price-to-earnings ratio of the consumer goods industry is uneven, with luxury brands like Prada being higher and mass brands like Victoria's Secret being lower, with the New Global situation ...... It's about between 40-50.

New Globe is a diversified company, and the market recognition of its divisions is not uniform.

New Globe and Wall Street are discussing the listing price, and the most fundamental discussion is to merge so many industries and come up with a unified price-earnings ratio plan.

As it stands, New Globe can trade in a P/E ratio of 30-35.

New Global's single-quarter net profit is $4 billion, and the annual net profit is not $12 billion, multiplied by the lowest price-to-earnings ratio of 30 times...... That's a $360 billion market cap?

Are you kidding!

Even if the second quarter is the peak season, sales are booming, and profits are high, other quarters may not be able to have such gains. But with New Global's current momentum, it's okay to make a net profit of $4 billion in the second quarter and $10 billion for the whole year, right?

Multiply by 30x P/E...... That's also a $300 billion market cap!

My God!

Lose your marbles!

Now, the company with the highest market capitalization in the world is ExxonMobil Corporation, with a market capitalization of $420 billion.

In second place is General Electric, with a market capitalization of $350 billion.

In third place is Gazprom with a market capitalization of $280 billion.

Next is Microsoft's $250 billion, Citigroup's $235 billion, Bank of America at $220 billion, Royal Dutch Shell at $220 billion, BP at $210 billion, and PetroChina at $200 billion.

It can be said that except for Microsoft, the other global giants are banks and oil groups. (GE's biggest lucrative business is also financial services, just like banks.)

New Global's market capitalization of $300 billion can be ranked third in the world after ExxonMobil and General Electric!

How many more years from now?

The subprime mortgage crisis led to the collapse of financial markets, and banks around the world were collectively in danger of going bankrupt.

Oil prices plummeted, and the market value of the world's oil giant groups collectively plummeted.

By that time...... Maybe New Global can really top the list of global market capitalization!

Of course, the market capitalization of $300 billion is only Donne's own most conservative estimate at the moment.

Such a good momentum, once it is frantically chased by the market...... ExxonMobil, the world's most valuable company, has a market capitalization of only $420 billion.

In the face of high P/E ratio and high leverage, the gap is really not big!

Outside, "The Avengers" is still being released vigorously.

In the second week of its release, the film grossed $150 million in North America, $320 million overseas, and $470 million the next week!

Counting the box office of $510 million in the first week, "The Avengers" was released for two weeks and grossed $980 million worldwide!

surpassed "Daredevil 2", which was released for more than two months, and became the runner-up at the box office in the summer file, second only to "Pirate League 3: The End of the World" with $1.06 billion!

This summer, New Universal is really crazy!

Not only did the financial statements explode, bombarding Wall Street. The film market also continued to explode, turning Hollywood upside down!

Internally, New Globe's executives didn't pay much attention to Hollywood.

Listing is the top priority!

On this day, Don convened the nine executive directors and two independent directors of the New Globe Group, as well as most of the senior executives, for a high-level financial meeting, and even Steve Jobs rushed from Silicon Valley.

To determine the listing issue price of New Global.

The issue price is related to the interests of every shareholder of New Global.

Generally speaking, there are two ways to determine the issue price: fixed price and auction.

To put it simply, the fixed price is determined by Party A, and then all buyers must buy at this price.

Bidding is arranged by investment banks and relevant financial institutions for buyers to bid. If most of them are bought at $10, then price $10. If most of them are bought at $20, then price $20. Listed companies have no say, and the initiative is in the hands of investment banks and subscribers.

For strong companies, most of them are issued at a fixed price!

I say as much as I want!

If you want to lower the price, get out!

Love to buy or not to buy!

This type of strong company generally has great potential and excellent financial statements. Because it is profitable, it will still be favored by capital and actively subscribed.

There are, of course, exceptions.

Like Google.

At first, the pricing was too high, and investors were discouraged from subscribing. As a result, Google's IPO failed so badly that a large portion of the shares were not sold. Google had no choice but to stop urgently, and a year later, there was a second public offering, which raised enough money to develop the company.

Don has a very strong personality.

The potential of New Universal is also huge, and its Facebook, Blizzard, Netflix, Dolby Labs, Pixar, Marvel Studios, IMAX, Prada, Discovery Channel, Down Pictures, Starz, and Universal Studios are all extremely high-quality assets. In particular, several major Internet companies, even the IT elite of Silicon Valley, are also optimistic.

Not to mention the performance, the revenue in the second quarter was $24 billion, and the net profit was $4 billion! The ability to make money is completely comparable to those oil giants.

As for the composition of the management...... There is no problem, the replacement of the old and the new is carried out in an orderly manner, and there are few contradictions between the executives. The board of directors also has a healthy composition of elites from politics, fashion, IT, Hollywood and Wall Street.

The only criticism...... It's that Don holds too many shares, a full 830 million shares.

Absolute control is absolute power, which makes Don lack constraints. Once his mind is dizzy, if he wants to lead the new world into a land of no return, there is nothing he can do. For example, Wang An's computer 20 years ago was heading towards a dead end, causing sighs.

Thankfully, Donn is smart enough to make strategic decisions that are ...... so far None of them failed, and they were all great successes.

With so many advantages, New Globe will definitely adopt a fixed-price approach to issue shares. The major investment banks only provide some advisory, advisory and underwriting roles.

As for the price......

Debatable.

Prior to this, New Globe had announced that it would be listed on the New York Stock Exchange under the stock trading symbol "UNI", and planned to issue 188 million shares. In addition, New Globe has granted the listed underwriters an oversubscription option of up to 32 million shares.

In total, about 200 million shares will be issued.

The total share capital will be expanded to 1.2 billion shares.

According to the standard of fixed price, the issue price = net profit per share X price-earnings ratio.

New Global's self-assessment puts its net profit for the year in the range of US$12 billion to US$14 billion, and the guidance given by major investment banks puts the price-to-earnings ratio in the range of 30-35.

In other words, the initial estimate of the issue price will be in the range of $300-408!

That's an exaggeration!

You must know that the appraisal price given by the major investment banks last month was...... $146!

Now the internal valuation of New Global is more than 1 times the guide price of the investment bank!

Isn't this a slap in the face of major investment banks?

Citigroup, Goldman Sachs, Morgan Stanley, ****, Deutsche Bank......

When Donn said the "$300 to $408" issue estimate, the atmosphere in the conference room was a little weird. Even Steve Jobs, who was battling with terminal cancer, seemed to cheer up at this moment, his eyes widened, and he looked at Donn incredulously.

Boy, are you serious?

No kidding!

Of course, there is also a faint expectation in his heart.

Jobs only holds 5.5 million shares of Apple, and 95% of his net worth is New Globe stock, and he holds 48 million shares.

If it were a $300 stock price, the stock would be worth $14.4 billion! His net worth would be more than $15 billion!

According to this year's Forbes Rich List, he will be second only to Theo Albrecht, the big owner of Germany's Aldi supermarket with a net worth of $15.5 billion, and ahead of Russian oil tycoon Abramovich, who has a net worth of $13.3 billion, ranking 21st in the world!

If it's a $407 price...... That's even more incredible, he will become the top 10 super-rich people in the world!

Jobs was a little excited, and his heart fluctuated.

Once again, he was convinced of the correctness of selling Pixar to Don back then.

It would be the greatest investment of his life.

However, the hot mood did not last long, and it quickly calmed down.

The issue price of $407?

No way!

Not to mention $407, even a $300 issue price is impossible!

It is twice as high as the guide price given by the investment banks, so how can investors in those markets follow? In terms of credibility, it must be higher than the major investment banks.

Moreover, investment banks are underwriters, and they are responsible for selling shares to shareholders. With such an outrageous price, the morale of the underwriters will not be too high.

Why did Google's IPO fail that year?

Because the investment bank offered a low price, Google disagreed and insisted on offering a high price, which was 50% higher than the investment bank's guide price.

As a result, it was unsalable.

The ostensible reason is that subscribers are afraid of investment failure and are afraid to buy.

The fundamental reason is that the two sides are too different, which leads to the cold promotion of these investment bank underwriters and they are too lazy to sell. At the level of Wall Street stockbrokers, even if they are worthless junk stocks, they can fool out, and the "wolf of Wall Street" is not blown out. Just like the subprime mortgage of real estate, they are actually some B-grade junk loans, but they can be packaged by Wall Street as the most perfect triple-A wealth management products and sold out. It's this kind of garbage real estate product, and everyone has to fight for the rush to buy it like a lottery. The world has been fooled by Wall Street to such an extent that it is not surprising that there has been a subprime mortgage crisis.

"Don't be nervous, this is just an approximate range, I don't think everyone wants to get rich?" Seeing that everyone's expressions were a little strange, Tang En, who was sitting on the chairman's seat, made a small joke.

The more than 30 people in the conference room all burst out laughing.

I don't know if it's a wry smile or a surprise laugh.

Don naturally knew what was going on in their hearts.

Before the meeting, he had communicated with several senior executives of the finance department, and he also knew some of the situation, and Zhengse said: "Everyone has seen the report of the second quarter, but there is no feedback on Wall Street." If nothing else, they will certainly make a new assessment of the expected offering price and corporate potential of New Globe, and by then, it will certainly not be $146. ”

From the news of the company's listing to the final listing, it has to go through more than a dozen rounds or even dozens of rounds of issue price evaluation.

Just announce the issue price the day before the IPO.

It's a bargaining process.

Several major investment banks on Wall Street are underwriters of New Global. The underwriter helps the listed company sell the stock, and there can be a commission, and the larger the financing scale, the lower the commission. Typically, the commission is between 2% and 3% for larger IPOs and around 7% for smaller IPOs.

New Global's IPO is very large, the largest ever, and the commission will naturally be lowered, according to the agreement, at 0.8%. (Alibaba's 1 percent, Facebook's 1.1 percent, Twitter's 3.2 percent.) ）

0.8% seems low, but New Global's IPO will raise more than $40 billion!

0.8% is $320 million.

This is not a small amount, but it is too inconspicuous for the big Wall Street investment banks of the financial giants.

New Globe earned $40 billion, and they were busy working to earn $320 million?

It's too unbalanced!

This is not the style of Wall Street.

Obviously, investment banks have other ways to make money in the underwriting of IPOs.