Hu Yiting had never handled the company's listing in his previous life, this time it was really a duck to the shelf, after listening to Alfred with an unquestionable and polite attitude to introduce the listing plan completely, he was generally satisfied, although he felt that Wall Street was too greedy, but these people can at least get things done.

Of course, he didn't dare to rush to finalize it, after all, this kind of thing has to be handled by professionals, but the so-called has never eaten pork and seen a pig run, and he still has different opinions on what can be understood in this plan.

"I can't promise to give you four board seats, I can only give you two, as for how to divide it is a matter for you and Brown Financial Consulting and Vanguard Investment, although the two of them did not come this time, but I know that they must be the only Goldman Sachs horse. ”

Alfred was very patient and kindly explained: "As major shareholders, it is only fair that each of them will get a seat on the board, and this is not a permanent seat, and if they sell all their shares in the future, Chongguang can take those two seats back." ”

Hu Yiting smiled: "I don't think it's possible, if so, then I think the number of directors should be adjusted from 8 to 9...... No...... 10 seats. ”

Alfred shook his head and said unabashedly, "This would weaken our voice on the board, I can't agree with that." ”

Hu Yiting didn't answer, and continued: "In addition, you take too much and pay too little. The number of shares in this public offering only accounts for 3% of the total share capital, and it cannot be listed and circulated for three years, which means that only 17% of the shares in the hands of the three investment banks can be sold at will to obtain funds, which is unfair. ”

Alfred blinked: "I think it's fair, but we have done so much for Chongguang, and we deserve a higher return, but we didn't take advantage of the fire to rob, when Chongguang was in the most danger, we didn't propose to modify the shareholding ratio, but kept our previous promise to your president Ma, 17%!"

Mr. Hu, you must know that if it weren't for our Goldman Sachs maneuvering, the investigation on Capitol Hill would never have suddenly calmed down, and in the end it just put forward some innocuous rectification plans.

The U.S. government attaches great importance to citizen information security, very, very seriously, Mr. Hu, do you know, the original congressional proposal was to suspend the operation of Chongguang QQ until the end of the security review, so that God knows when it will be restored, maybe then the market will not only be QQ, an Internet instant messaging service provider, once it loses the absolute advantage of market share, QQ's position in the eyes of stock market investors will decline significantly. Goldman Sachs, as a partner of Chongguang, has done its best to avoid the fermentation of this crisis, which will hurt the interests of both of us. QQ is a good company, and if we lose market share because of it, it means a big loss for both of us!"

Hu Yiting knew that what he said was reasonable, but he still raised his chin and retorted: "What you said is the worst situation, and the possibility of it happening is extremely small, and we have hired a professional lawyer from the United States, and we are sure that the US government has no right to take that kind of extremely irresponsible behavior against us without any evidence, which will hurt the credibility of the US government." ”

Alfred's eyes flickered, and he felt a little disappointed that he failed to bluff Hu Yiting, and at the same time added a little respect to the young man in front of him, "Mr. Hu, you don't know the United States, the Democratic administration regards the Internet economy as an important development direction of the United States industry in the future, and believes that it may become one of the pillars of the American economy in the near future, so the US government will never let go of any opportunity to hit competitors, if you don't go public this time, I dare to guarantee that you will have many problems in the future." ”

Alfred's words were quite warning, and there was even a strong threat in them, Hu Yiting heard it harshly, but he knew in his heart that what he said was not groundless. In recent years, the United States, as the hegemon in formulating the rules of the Internet industry and the number one hegemon in the world, if it can foresee that QQ will become a very monopolistic product in the future, then needless to say, it is now hated to strangle it in the cradle. I can only take advantage of QQ before it shows its strong user adhesion, as soon as possible to turn it into a listed company in the United States, so that the US government can rest assured, otherwise the longer the time drags on, the more people will be jealous and even hate QQ, and at that time, I am afraid that the heavy light QQ will be suppressed by the US government for various reasons, and the worst may not rule out the loss of the US market, retreat to the country, and the so-called wall is pushed by everyone, once there is no US listed company as an umbrella, QQ in other Western countries is estimated to be targeted suppressed。

Alfred continued: "Offering a 17% stake in exchange for the opportunity to grow in the U.S. market, Mr. Hu, you should understand that this is a major opportunity for Chongguang, and as far as I know, you can only make a profit in the North American market. The United States, as the world's largest economy, will be nothing if it rejects Chongguang QQ. ”

Hu Yiting was annoyed but helpless, so he had to resist the urge to clench his hands into fists, with a traditional East Asian expression of harmony and wealth on his face, and said with a warm smile: "We are a credit-worthy enterprise, since we have a verbal agreement before, 17% I basically agree with the high percentage, but I can't compromise on board seats, and Chongguang must have a majority, which is six out of eight, which is related to whether we can continue to push the company forward strongly and not be swayed by the mercenary and short-sighted Wall Street. ”

Alfred didn't want to give in at all, and continued to say in a calm tone: "This is impossible, we must have a balance with Chongguang, otherwise how can we ensure our investment interests? We must avoid the stupid policies that listed companies may formulate that may harm the interests of our shareholders, but I promise that I will never interfere with the normal operation and personnel arrangements of the company." ”

"What do you mean by policies that harm the interests of shareholders?"

"For example, investing the raised funds in industries that have nothing to do with QQ, or adopting aggressive investment strategies that lead to the dilution or even loss of the company's existing profits, you must know that these will seriously hurt the price of the stock in the market. ”

"You care so much about the price of the stock, do you plan to go public and walk away?"

Alfred shook his head: "Of course we won't leave it all at once, but frankly, we have to make the investment pay off, the upfront investment will definitely be recovered, and the remaining equity will be adjusted according to market changes and the company's operating conditions." Now that we're about to become partners, we have to be honest with each other, and I can tell you right now that Goldman Sachs will reduce its stake by half within three years of going public, and I expect Vanguard Investments and Brown Financial Advisory to also reduce their holdings significantly, which is what we deserve, so the operation of Chongguang QQ has become crucial, we can't allow you to have large-scale losses or lose market share, your number of users must maintain rapid growth, and your future operating goal is this, and there must be no deviation, so we must occupy half of the board seatsOf course, in three years we can give up one or two seats, that's fine. ”

Hu Yiting calculated in his heart that Chongguang's 75% equity lock-up period is as long as three years, that is to say, no matter how the market rises in the next three years, Chongguang will not be able to obtain funds by selling stocks, and only 5% of the employees' subscription shares can be lifted after one year, that is to say, in the first year after listing, the only shares that can be circulated in the market are 3% of the public offering and the 17% of the equity in the hands of the three investment banks.

Alfred said without hesitation: "We can assure you that QQ shares will never fall below the issue price within the first week after listing, and will not fall by more than 20% within a month, which is the commitment given to you by our three investment banks, and this will also make you an Internet company with a total market value of up to $20 billion." You know, Yahoo was listed on the New York Stock Exchange with a total market capitalization of $500 million, which is 40 times more than them! And according to our estimates, it's entirely possible that the listing price will be more than $20. You must know that our three investment banks have the support of a large number of brokerage companies on Wall Street, so they have enough ability to recommend your initial 30 million shares to American investors at the highest possible price, once our contract is finalized, tens of thousands of calls will be dialed out by our brokers, and QQ shares will be sold to tens of thousands of families and those discerning investors in the United States like hot turkey legs, so Mr. Hu, you can rest assured that once QQ is listed, you will all become millionaires. ”