International Trade Center, 26th floor.

Standing in front of the window and looking down, Zhang Chen could see the two pieces of land that Galaxy Real Estate had just gotten.

After Zhang Chen was reborn, he once carefully observed this city that he had struggled in his previous life, and found that so many high-rise buildings in his memory were built more than ten years from now.

Even the most congested CBD CBD in the future is now just a low-rise bungalow.

CCTV is still next to the Xicheng Military Bo, and there is no big pants standing proudly. Henderson Center has not yet been capped, Oriental Plaza has just started, the second phase of the International Trade Center is still missing, the third phase of the International Trade Center, which has been the tallest building in the capital for eight years, has not even been flattened, and as for the future Huaxia Zun, the tallest building in the capital that has not been completed before the rebirth, it may not even be envisioned.

Once upon a time, Zhang Chen once upon a night, he also sat by the floor-to-ceiling window of the café on the top floor of the third phase of the International Trade Center, drinking a glass of juice for 65 yuan, and looking at the neon flashes outside the window at a height of 300 meters.

But in this flickering neon, there is not a single light that is lit for itself.

But in this 1998, although I didn't look down on the common people from a height of 300 meters, I had the opportunity to build a skyscraper higher than 300 meters here!

Zhang Chen stood in front of the window and wandered the world, but the negotiation table a few meters away was filled with gunsmoke.

"$3 billion is already a fantasy, let alone $4 billion! There is no benefit in making the valuation too high before the IPO!" She Qingchun, director and vice president of CICC's investment banking department, blushed and shouted with a thick neck.

Now Goldman Sachs and Da Mo are offering a price of $8.5 per share, with a total valuation of more than $3.2 billion. You only made an offer of $2.5 billion, are you stupid or are we stupid?" Xuan Dawen, a PwC consultant hired by Starcom, scoffed at She Qingchun's offer.

。。。。。。

The negotiators on both sides drank and danced at night, but during the day, the negotiations were for tat.

Now that the high-level leaders of both sides have come forward, of course, you can't just watch the people below perform.

"Ahem, Mr. She, in principle, we agree with CICC's cornerstone investment in Starcom and participate in Starcom's IPO plan, but CICC's board of directors still has different opinions on Starcom's valuation. Your current offer is far below our psychological price and below the actual value of Starcom. Lu Hongliang coughed twice and said slowly.

She Qingchun raised his glasses: "CICC has done a lot of analysis and research on Starcom, and the current valuation of $2.5 billion we believe is reasonable, and we have considered the possibility of rapid growth of Starcom in the next three years." In any case, Starcom is just a company that has been around for less than 4 years, and even with a dynamic P/E ratio, the P/E ratio of $5.72 per share is more than 25 times. This is already a very good price for a cornerstone investment. ”

That's because CICC still underestimates the growth rate of Starcom, and on this point, CICC is too conservative. Zhang Chen turned his head and walked to his seat and sat down, "Mr. She, with all due respect, even if CICC can bring great help to our domestic business, the capital market will not recognize this part of the premium in CICC's quotation." ”

Before Starcom goes public, it needs to find several cornerstone investments to guarantee the bottom line. Goldman Sachs, Morgan Stanley, Salomon Smith Barney and Merrill Lynch are all good partners to work with, and these institutions are also very interested in Starcom, and the offers are very tempting.

I also know that the NASDAQ high-tech sector is hot now, and the worry is that there is no high-quality IPO, as long as it is an IPO of a company that does not look so lo, cornerstone investors can get good returns.

Of course, Starcom is not lo, not only is it not, but it is also a rare high-quality company in the NASDAQ market in the near future.

There is technology, there is capital, there is a market, and there is profit. There are too few companies on the NASDAQ that have all four, and Starcom has performed well in these categories.

In terms of technology, in addition to self-developed technology, in half a year, Starcom acquired seven or eight communication technology companies to enrich the technical reserves, and these technologies from now on, both practicality and scalability are good, of which more than 30 patents may even become the standard of the underlying communication technology in the future.

In terms of capital, will Starcom, which can acquire so many companies, be short of money?

In terms of the market, as long as anyone with a little brain knows, with the total population of Huaxia, it is destined to be the world's largest market in the future. And Starcom, which is backed by this big market, will of course have better performance.

Finally, make a profit.

This is the last word, if it weren't for the fact that too much money was spent on large acquisitions in the past six months, which raised expenses, otherwise Starcom's profit this year would have exceeded at least $50 million. Nowadays, it is rare for new companies to have an annual turnover of more than 50 million US dollars, let alone profits.

It is conceivable that once Starcom starts its IPO, it will inevitably cause an uproar in the market and be highly sought after. At that time, let alone 30 times the P/E, even if it exceeds 50 times or even 100 times, it is just normal for the current Nasdaq.

Whether it is Wu Ying or Lu Hongliang, they have been working abroad for many years. Zhang Chen and Masayoshi Son have been in the limelight in the United States in the past two years, even if they don't find any cornerstone investment, they alone will not have any difficulty in operating Starcom on the NASDAQ.

From the very beginning, the Starcom team did not consider the cornerstone investment of domestic financial institutions, and only focused on the heads of international capital giants such as Goldman Sachs, Da Mo, Merrill Lynch, and Fidelity.

The introduction of CICC as a cornerstone investment in China is the result of Zhang Chen's strong advocacy.

In the next five years, the main market of Starcom will still be in China, and CICC has not been established for a long time, and it has no say in the international capital market, but as the first international investment bank in China, it is self-evident to what extent it will grow in the future.

Although after 2014, CICC's status as "International Trade Day" began to be overtaken by juniors such as "Wheat Store Goldman Sachs" and "Chaoyangmen Barclays", it is still a first-class "Vanity Fair" in China, and the depth of its heritage can be imagined.

The introduction of CICC's cornerstone investment will be crucial to Starcom's development in the domestic market in the next few years.

Of course, this does not mean that Starcom's preferred shares can be sold cheaply, these are completely two concepts.

"Starcom has done two roadshows in New York, and we have listed the forecast of the inquiry range of 13 investment institutions for Starcom, and we can see that the lowest of them, Credit Suisse, has given an IPO inquiry range of $11.25-12.65. With a cost of $8.5, you can get more than 50% of the profit after the IPO, which is considered a huge profit for any investment bank. Zhang Chen changed a page of slides, took a laser pointer and pointed, "If we accept CICC's $5.72 cornerstone investment, what will other investors do? If CICC insists on this offer, Starcom will have no choice but to abandon this cooperation." ”

Beads of sweat appeared on She Qingchun's forehead, compared with Wu Ying and Lu Hongliang, Zhang Chen's psychological pressure was more than twice as great.

Although Zhang Chen's role in the Asian financial crisis is not well known, the current social status and influence of the other party alone make She Qingchun dare not make a mistake.

Facing Zhang Chen's threat, She Qingchun took out a handkerchief and wiped his sweat, "Mr. Zhang, if Sidakang is not satisfied, we can discuss it again, discuss it again." ”

"$8.55, not a penny. Zhang Chen wrote lightly.

"This 。。。。。。 She Qingchun's eyes rolled, "I'll report... ”

As soon as She Qingchun's voice fell, the door of the conference room was pushed open with a bang.

"Hahaha, I'm sorry, I'm sorry, I just had a meeting with the group, and I'm late. Zack, $8.55 per share, three-year lock-up, $60 million cornerstone investment of 7 million shares, CICC accepted the proposal. A middle-aged man with a thin face strode into the conference room.

"Hello, hello, hello, contemptible Yang Yukang, the person in charge of the Zhongjin Xiangjiang Office, is also the person in charge of the project of Starcom. Yang Yukang shook hands with everyone one by one with a smile.

Zhang Chen didn't feel surprised at all, his eyes flashed: "Mr. Yang, CICC will definitely not regret this business." ”

Maizidian Goldman Sachs: The joking name of Zhongxin Securities

Chaoyangmen Barclays: The joking name of zhongxinjiantou

There are similar nicknames such as Stanley under Lotus Mountain, Xinjiekou Merrill Lynch, Jing'an Nono Village, Shanghai Sandiaosi and the like, search for it yourself if you are interested.

Haitong in the three dicks in Shanghai is very interesting.,In fact, the treatment is quite good.,I don't know why I deliberately mixed in the ranks of the three dicks in Shanghai.,It's quite low-key.。

(End of chapter)