"Why did you invite this Liu Ruanxiong to dinner together, I think you seem to be paying special attention to him!" Li Ke and his younger brother took a car back to Li's house on the top of Taiping Mountain.

Li Xuan can't say that this Liu Sheng is an example that countless dicks in later generations envy, and he wants to see the real person because he is curious. So he had no choice but to say: "This Liu Sheng has extraordinary means, he just bit off a piece of fat on Chuang's Group, and yesterday he was eyeing the abnormality of Hongkong Land's stock price!"

"Oh, that's indeed a talent!" Li Ke couldn't help but raise his eyebrows in surprise.

He had previously observed the situation of the traders of Zhuang Yuhai's team directing dozens of account transactions. About 4.5% of the 24.5% of Hongkong Holdings' previous shares were bought by LH Fund when the Hong Kong stock market was at a low point in the previous two years.

About 5% of the remaining 20% of the shares were acquired by agreement from several institutional shareholders, and the remaining 15% of the shares were tradable shares absorbed from the secondary market. And it is by no means easy to absorb so many individual stocks from the world.

The specific operation process is actually very complicated, and it is by no means possible to blindly diversify buying, which will only quickly raise the stock price. Traders usually sell large sums of money when the stock price rises rapidly, so as to scare off retail investors who want to fish in troubled waters. And when these retail investors left the market one after another, they quietly took the opportunity to take over all the stocks they sold at a low price.

Therefore, in the eyes of ordinary people, Hongkong Land's stock has recently been caught in the whirlpool of public opinion, although the fluctuations are relatively violent, it is difficult to detect that someone is secretly absorbing stocks!

Although Li Ke was a little surprised by Liu Ruanxiong's astute sense of smell. But I didn't take it too seriously. In fact, Liu Ruanxiong has been very low-key throughout the dinner in the evening. Rarely interjected.

"Ah Xuan, Jardine has already taken the call. What are your plans next? I think you seem to be confident!" Li Ke asked with a change of subject.

"It's not the first time that Jardine Matheson has traded in this way of stock and bonds. When Niu Bijian was still in power before, he used this trick to compete with Bao Yugang for the controlling stake of Wharf!

It's a pity that the situation that Keswick is facing now is far worse than it was six years ago. At that time, Hong Kong's real estate industry was booming, and Hongkong Land's stock price and reputation were very strong, so the market once recognized that Newbijian used Hongkong Land stocks and bonds to exchange for Wharf shares!

But now, after a series of crackdowns on Jardine Matheson, the market's confidence in it has fallen to a low point! Keswick now wants to use the issuance of unsecured bonds to accomplish the feat of swallowing an elephant, do you think it is possible?" Li Xuan said with some disdain.

All possible coping strategies of Jardine Matheson have been anticipated by Zhuang Yuhai in advance. Without the support of HSBC, it will be difficult for them to raise large sums of cash for a while, so they have to look for other ways out.

Two Jardine Matheson shares priced at $11 per share, plus a short-term unsecured bond with a face value of $80, for a total of $102 in exchange for 10 Hongkong Land shares. The premise for this type of exchange to gain market support is that Jardine Matheson's share price can at least be maintained. Because only Jardine Matheson has enough market capitalization. to ensure that the bonds it issues do not turn into a pile of waste paper.

It's a pity that at half past nine o'clock in the morning of the next day, as soon as the Hong Kong stock market opened, there were three orders of 5 million shares of Jardine Matheson in the trading market, and the selling price was 10.5 yuan. Jardine Matheson Holdings' closing price the previous day was $12.2. It announced yesterday evening that it would issue new shares at $11 per share below market price. For existing shareholders, their shares are ex-rights.

Therefore, in the call auction stage before the opening of today's market, Jardine Matheson's share price has already begun to fall. And these 2 sell orders. In one go, the opening price of Jardine Matheson was directly nailed to 10.5 yuan.

You know, even if the four existing stock exchanges in Hong Kong are combined. The daily stock trading volume is only 300 million or 400 million Hong Kong dollars. The total value of these two orders has exceeded 100 million Hong Kong dollars.

Although a large number of people took the opportunity to buy Jardine Matheson shares in large quantities. However, all the buying counterparties combined, a total of about 4 million selling orders were consumed, and there were still 11 million shares unfilled. As a result, about 1 hour after the market opened, the remaining unfilled sell orders were cancelled and replaced by 2 new sell orders for 5 million shares at a sell price of 10.2 yuan.

Rival buying began to reappear, and after about 3 million shares were consumed, the 10.2 yuan buying order disappeared completely. As a result, a sell order for 5 million shares with a selling price of 10 yuan was put out again, and the buying order finally began to resist fiercely.

A large number of investors who wanted to buy the bottom began to buy Jardine Matheson shares, and the 5 million sell orders were quickly eaten up. But the bears still unhurriedly re-listed a buy order of 5 million shares at the price of 10 yuan.

Jardine Matheson's stock has undoubtedly become the biggest focus of the entire Hong Kong stock market in the morning. By the close of the afternoon session, the trading volume of Jardine Matheson shares had reached a staggering 18 million shares, with a total turnover of more than 180 million yuan. However, Jardine Matheson's share price was severely suppressed to 9.8 yuan, which was nearly 20% lower than yesterday's closing price.

The main force in shorting Jardine Matheson stocks is naturally the trading team under Zhuang Yuhai. While quietly absorbing Hongkong Land shares before, Zhuang Yuhai also ordered the purchase of nearly 30 million shares of Jardine Matheson shares.

Compared with the original purchase price, Zhuang Yuhai lost nearly 20 million yuan in the entire morning's sell-off. But he succeeded in bankrupting Jardine Matheson's plan to issue new shares in exchange for land shares. A fool would use a price of 11 yuan to subscribe for Jardine Matheson stock, which has a market value of only 9.8 yuan.

If calculated based on the latest stock price of Jardine Matheson at 9.8 yuan, the book purchase price of Jardine Matheson shares has fallen from 10.2 yuan when the exchange plan was announced yesterday evening to 9.96 yuan at noon closing, and it may continue to fall in the afternoon!

On the other hand, as for Heung Kong Holdings, Zhuang Yuhai announced it at a press conference yesterday. The purchase price of Hongkong Land's shares was raised from the original 9 yuan per share to 9.5 yuan.

The book purchase price given by Jardine Matheson is still higher. But its plan is not to pay in cash. In the swap plan given by Jardine Matheson, the majority of the bonds will take half a year to be redeemed. No one can say whether there will be a risk of default at that time, and the other part of the share price of Jardine Matheson, which is used for exchange, has been plummeting.

In this contrast, all the investment institutions and shareholders who hold Hongkong shares have overwhelmingly chosen Heung Kong Holdings, which is slightly lower in price but can be safe.

Asia Securities and Dock Securities, which were responsible for the acquisition of Hongkong Land's shares, are located in the Hutchison Building in Central. As a result, from the morning, shareholders who were eager to sell their shares lined up in the Hutchison Building. The longer and longer queue eventually even stretched from inside the building to the outside on Harcourt Road. Even the Central Police Station. A number of police officers were also urgently dispatched to maintain order.

After Heung Kong Holdings officially issued a general tender offer for Hongkong Land yesterday, it absorbed less than 5% of Hongkong Land shares in a day, and most shareholders chose to wait and see what kind of counterattack Jardine Matheson would make before making a decision.

But the counterattack plan given by Jardine Matheson disappointed the shareholders. Therefore, everyone no longer hesitated and began to accept the cash acquisition plan of Heung Kong Holdings. By the evening, Heung Kong Holdings' stake in Hongkong Land had increased to 820 million shares, accounting for 41% of the total share capital of 2 billion shares.

Even if Jardine Matheson can successfully obtain 200 million additional shares from Hongkong Land, it is still much behind Heung Kong Holdings in terms of total shareholdings. And at this rate. It only takes one more day for Heung Kong Holdings to successfully push its stake to more than 50%.

"Mr. Keswick, there is an old Chinese saying that the one who knows the times is the one who knows the times! After losing the land, you can control the shares of Jardine Matheson. Only his family holds less than 15% of the shares. If you choose to fight us to the end now, we will indeed pay a greater price!

But all these costs we have paid will be recovered from Jardine Holdings! I believe that if we take over Hongkong Land. Selling Hongkong Land's 25 percent stake in Jardine Matheson is sure to sell for a good price, both in Hong Kong and in Southeast Asia. There must be many companies willing to take over!" Zhuang Yuhai looked at the man in front of him whose face was a little distorted because of anger. He continued to threaten without showing weakness.

The timing of Heung Kong Holdings' move was very cleverly chosen. Although Keswick has completed the initial unlocking of Yizhi Mutual Control, the subsequent steps have not been completed. According to Keswick's plan, he next plans to set up a new company called Jardine Matheson.

Keswick would then transfer Hongkong Land's shares in Jardine Matheson Holdings, as well as Jardine Holdings' shares in Hongkong Land, to the new company. Finally, let Jardine Matheson Strategy and Jardine Matheson Holdings implement a cross-share swap, so as to liberate Hongkong Land.

It's a pity that Keswick's overall plan has just taken the first step, and it is fatally blocked. One of the most important companies in the Jardine family is about to be acquired by others.

"Mr. Keswick, HSBC has noticed that Jardine Matheson's share price has fallen by 25% today. I have to give you a kind piece of advice, if Jardine Matheson Holdings cannot quickly stop its stock price from continuing to decline, then it is likely to affect the financial market and the credit rating of Jardine Matheson Holdings!" The third party in the meeting room, Shen Bi, the head of HSBC, also suddenly said to Keswick.

Zhuang Yuhai entrusted Shen Bi to come forward this time, so he invited Keswick to continue the negotiation. HSBC has a large amount of credit funds in Hongkong Land. With the acquisition of the land almost a foregone conclusion, HSBC does not want Heung Kong Holdings to pay too high a price.

This is because the higher the cost of Hongkong Holdings' acquisition of Hongkong Land, the greater the debt pressure it will have to bear after the acquisition. This will push up the risk of default of those credit funds that HSBC has already invested in Hongkong Land!

The banking industry has always been about giving umbrellas on sunny days and collecting umbrellas on rainy days! If Jardine Matheson is really downgraded by credit, then the consequences will be catastrophic! The Keswick family can lose their land, but they must not allow the loss of Jardine Matheson.

"I can transfer the shares in the hands of Jardine Matheson to you at the price of 9.5 yuan per share you offered! But you must guarantee that the shares of Jardine Matheson Holdings in the hands of Hongkong Land will be transferred to Jardine Securities Company and my family at today's closing price!" Keswick was silent for a while, and finally made a difficult decision.

In fact, there is a listed company called Jardine Matheson, but its market capitalization is smaller than the other two companies in the Jardine family. After losing the 25% stake held by Hongkong Land, the Keswick family's grip on Jardine Matheson Holdings was already shaky, so they had to buy back the shares in Jardine Matheson.

"Mr. Keswick, I think you are a little mistaken! Heung Kong Holdings will only buy the shares in the hands of Jardine Matheson at the stock price when Hongkong Land was suspended! And if the additional issuance agreement between Jardine Matheson and Hongkong Land continues to be fulfilled, we will only buy back that part of the shares at the original price at the time of the additional issuance!" Zhuang Yuhai smiled, now that Heung Kong Holdings has an overwhelming advantage, if he is still knocked by Jardine Matheson, then his head will really be caught by the door.

"No, the price of 7.2 yuan is too low, it does not reflect the true value of Hongkong Land at all, and we can't explain it to the shareholders of Jardine Matheson!" Keswick shook his head and denied.

"Hehe, I don't know if Mr. Keswick has counted a number, in the past three months, the average share price of Hongkong Land is only 7.05 yuan! This is the real view of the market's value of Hongkong Land, we bought it at the price of 7.2 yuan at the time of the suspension, which is already an appropriate premium for the value of Hongkong Land!" Zhuang Yuhai smiled and threw out a number.

Hongkong Land's original stock price has been fluctuating around 8 yuan, but since it was targeted by public opinion last year, it was quickly suppressed to about 6.5 yuan. Subsequently, after Heung Kong Holdings secretly began to absorb shares, Hongkong Land's share price began to gradually recover.

Hongkong Land's recent stock price fluctuations can be said to be the result of malicious manipulation by the other party. And Zhuang Yuhai dared to say shamelessly that the price of 7.2 yuan had been overestimated. Keswick really wanted to smash his fist into this villain's face, but now that the situation is stronger than people, he has to choose to bow his head!

The two sides stayed up all night and finally completed a compromise at 6 o'clock the next morning! Heung Kong Holdings bought a 25% stake in Hongkong Land held by Jardine Matheson Holdings in cash at a price of HK$3.6 billion. As soon as the news was announced, there were more people queuing up to sell shares in front of Hutchison Building, and everyone was afraid that Heung Kong Holdings would no longer continue to buy Hongkong Land shares.

After acquiring the shares in the hands of Jardine Matheson, Heung Kong Holdings did not stop, but prepared to completely acquire Hongkong Land and eventually achieve privatization! HSBC also issued an announcement to provide a credit line of 3.5 billion Hong Kong dollars for Heung Kong Holdings' next acquisition.

Heung Kong Holdings' privatisation of Hongkong Land Group cost about HK$16.5 billion. Before Heung Kong Holdings launched its attack, the market value of Hongkong Land was originally around HK$16 billion. In other words, Zhuang Yuhai almost swallowed Hongkong Land at the original price, and staged a textbook perfect acquisition war......!

PS: I finally finished writing the acquisition drama, I originally wanted to write a climax, but I didn't write it, and the pen was not enough, alas!