15 July 2007, Ritz-Carlton, Hong Kong.

After a week of roadshow in the United States, the global roadshow of Fengxing Group's IPO moved to Asia, and the two AB teams also met in Hong Kong to jointly promote the roadshow in Hong Kong.

The popularity of the U.S. capital market has also spread here.

As early as a few days ago, the seats for the popular roadshow luncheon were full, and the Ritz-Carlton Hotel had 40 seats arranged in the ballroom on the third floor, with more than 500 investors attending.

The most exciting thing for the Hong Kong media is that in addition to institutional investors, many of Hong Kong's top tycoons have also shown great interest, including Li Ka-shing, Kwok Brothers, and many other Hong Kong tycoons will be present to help Lin Feng and Fengxing.

Due to the fact that Lin Feng's family has lived in Hong Kong in the past year, and Ye Weiyu has settled down, in the eyes of the Hong Kong media, Lin Feng has also been regarded as an emerging rich man in Hong Kong, and now Fengxing is listed in the United States, according to the current pricing range, Lin Feng's shares in Fengxing are worth about 13.2 billion US dollars (102.9 billion Hong Kong dollars)!

Even if you don't count the stock rise after Fengxing's listing, Lin Feng's net worth has ranked fourth on the Hong Kong rich list at this time!

In front of him, there are only three people, namely Cheung Kong Li Ka-shing (US$32 billion), the new Henderson Land Kwok family (US$24 billion), and Henderson Land Lee Shau Kee (US$23 billion).

Other veteran tycoons, such as Cheng Yu-Tung ($9.4 billion), Stanley Ho ($9 billion), Liu Luanxiong ($5.5 billion), Michael Kadoorie ($5.2 billion), and the Fok Ying Tung family ($4.5 billion), are all squeezed behind him!

Compared with Lin Feng's previous title of "China's richest man", for Hong Kong people, comparing his net worth with these top families in Hong Kong for many years really makes Hong Kong people feel the awesomeness of the emerging mainland rich......

It's just that Fengxing did not choose to be listed on the Hong Kong Stock Exchange, which is a bit regrettable for Hong Kong people, because they can't buy Fengxing shares easily.

Because the listing is in the United States, institutional investors in Hong Kong need to open a US dollar account at the US branch of the investment bank before they can place an order to buy the new shares of Fengxing, and the fee is a fair market price.

In addition to requiring investors to have assets of HK$8 million, the admission fee for subscription is at least US$500,000 and relevant documents need to be signed......

At 12 noon, Lin Feng appeared at the Ritz-Carlton Hotel.

To the surprise of the media squatting outside the banquet hall, "Mrs. Lin" Ye Weiyu, who has rarely appeared since giving birth, also held hands with Lin Feng today and dressed up to attend today's luncheon.

Suddenly, the flash lights of the media flashed, and the reporters scrambled to stretch the microphone to the front as much as possible, hoping to have the opportunity to interview Lin Feng or Ye Weiyu.

Several bodyguards around Lin Feng tried their best to block the reporters, protecting Lin Feng and Ye Weiyu and walking towards the banquet hall.

Lin Feng was not going to be interviewed by the media, but seeing that the media was so enthusiastic, after thinking about it, he stopped, raised his hand and looked at the table, and then smiled at the reporters: "Don't squeeze, be careful of injury, I have 5 minutes, I can briefly communicate with everyone." ”

"Lin Sheng, it's not popular to choose to be listed on the Hong Kong Stock Exchange, do you have anything to say?" a reporter asked in a loud voice, this sentence was also what many media wanted to ask, and everyone was quiet for a while.

"I also regret missing the Hong Kong Stock Exchange, but I respect the rules of the Hong Kong Stock Exchange, I understand it very well, and I support it very much, Hong Kong should not change its principles for a company, for a company. However, Hong Kong must change for itself and for the future of its young people, and the world is changing. I believe that Hong Kong will become better!It doesn't matter, next time, next time, next time I have the opportunity, I will come to Hong Kong to list again!" Lin Feng replied with a smile on his face.

"Mrs. Lin, how rare have you been recovering lately?" asked a female reporter.

"I'm very good, thank you for your relationship, I am also a shareholder of Fengxing, and the Maple Leaf Investment I manage is also one of the shareholders of Fengxing, I should support Fengxing and support my husband in both public and private affairs. Ye Weiyu took Lin Feng's arm and said with a spring breeze.

After half a year of recuperation, her body has recovered very well, and she insists on exercising, yoga, body and dance, so that she still maintains an excellent figure.

"Okay, thank you, and please support me!" Lin Feng folded his hands to express his gratitude, and then walked into the banquet hall surrounded by bodyguards.

Bursts of applause erupted in the ballroom, shutting out the media's gaze as the doors closed.

The roadshow has officially begun.

…………

There is basically no difficulty in the Hong Kong roadshow, not to mention those large and small financial institutions and funds, even the funds of several major families, which can already cover the funds raised by the popular plan in Hong Kong......

Li Ka-shing, Guo Henian, Fok Yingdong and other veteran tycoons are very interested in buying shares, such as Li Ka-shing, hoping to use the Li Ka-shing Foundation and confidante Zhou Kaixuan's Harbour Investment to subscribe for popular stocks.

In fact, at this stage, it is already obvious, because the demand from global investors is extremely strong, and Fengxing has obtained more subscriptions than expected early.

As of Hong Kong, nearly 1,200 institutional accounts around the world have participated in the subscription, with a subscription amount of more than 200 billion US dollars, which is 25 times oversubscribed!

And there are Singapore and London stations that have not started......

For Fengxing, the question now is not to raise funds, but how to allocate the placement quota of new shares?!

In this regard, after the Hong Kong roadshow, the management teams of the investment bank and Fengxing continued to meet to discuss.

After Lin Feng sent Ye Weiyu home, he also returned to the hotel and participated in the discussion.

Investment banks such as Goldman Sachs and Da Mo have operated super-large-scale IPOs and still have rich experience.

David Solomon, head of Goldman Sachs, the lead bank, suggested that there are three aspects to consider:

First of all, the size of the order and the number of stocks bought;

secondly, what is the relationship with the investment bank, and whether it often trades on the platform;

In addition, through the past transaction records, see whether long-term investment is the mainstay. For example, some institutions will sell directly after listing for short-term speculation, and such institutions will definitely not get a relatively large number.

According to this classification standard, it is expected that the top 25 institutional clients will receive 50% of the shares allocated to the placement, while the total top 100 institutional clients will receive 83% of the shares, and the remaining approximately 750 institutional accounts will share the remaining 17% of the offering shares, while the other hundreds of institutions will not receive a share.

Lin Feng is satisfied with this division, but he also pointed out that this division is only suitable for institutional investors, and for the investment subscription of some groups and enterprises, it is necessary to consider the cooperative relationship with Fengxing in the future, the influence in the business community, and so on.

To put it bluntly, it is to set aside a share for related households!

For example, Lin Feng once promised to set aside a share for Li Zekai, and in the United States, Oracle's Larry Ellison, Google's Larry Page, etc., also set aside shares for their private companies and funds for future business cooperation.

Therefore, basically a certain share needs to be set aside for these special groups, and the European side can let Rothschild coordinate the distribution, the United States is selected by investment banks such as Goldman Sachs, and Asia is allocated by the Fengxing management team.

The issue of allotment quota allocation is solved, and another issue is also very important.

That is, since the demand from investors is so strong and the proportion of oversubscriptions is so high, does Fengxing need to raise the issue price?

This is a core issue, which directly affects the final amount of funds raised in this popular IPO!

Because of the impact of the hot subscription, the investment banks are more confident, and they suggest that the issue price can be raised from the previous $38-40 to $43-45.

You know, at the beginning, investment banks didn't say this: "too high is greedy, too low is stupid", we don't set prices too greedy, "leave some money on the table".

It can be seen that after a week-long roadshow, the feedback from investors has also greatly encouraged investment banks.

In this regard, Lin Feng did not express his opinion first, but looked around at everyone: "What about everyone's opinion?"

Li Dong, as the main person in charge of the listing, said on behalf of the roadshow team: "I have communicated with Jennifer, and the investors we met in the process of the roadshow are basically very excited and looking forward to the popular listing. ”

Lin Feng thought for a while and said, "Okay, since everyone agrees, I agree to raise the price, and after the last stop in London, we will determine what the specific price is!"

This is also the proper meaning, after the roadshow is completed, the final subscription figure will be counted, which is also conducive to accounting for the final pricing.

…………

London, 17 July.

After today, the team will return to New York to prepare for the opening of the IPO, and the official listing time has been set for July 19. It was a day ahead of schedule.

That evening, in the hotel where the roadshow team was staying, a meeting was taking place.

Lin Feng also came to London to share this last roadshow moment with you.

He began by speaking: "Today is the last day, thank you all for your hard work in the past ten days, especially the management team led by Joe and Jennifer, who have shown good demeanor and completed this global roadshow in these ten days. With over $250 billion in subscriptions, and to be honest, even though I knew it was going to be good, it far exceeded all of our expectations...... Now, Joe is invited to announce our decision!"

Li Dong sat next to him, and his face also showed excitement: "This is a rather historic moment, so I want to say slow down......"

Everyone laughed and applauded.

"The only item on the agenda today is to determine the offering price, which will determine the company's IPO valuation, David?" He looked at David with a smile.

David of Goldman Sachs continued: "On behalf of the joint underwriters, I recommend the price at the very top of the pricing range, at $45. ”

Li Dong smiled and looked at everyone present: "Look, all the directors here have very satisfied smiles on their faces, I think we are ready to pass this price, $45 per share." ”

Lin Feng, Wang Hao, Roux, Michael, Liu Lefei, and Li Mengyuan all smiled and nodded.

Lin Feng smiled: "Yes, it's passed!"

Everyone applauded enthusiastically, and a smile of excitement appeared on their faces.

The final price of the Fengxing IPO was set at $45 per share, according to which the group will raise $9 billion this time, which is undoubtedly the largest Internet company IPO in history.

The last time, in 2004, was $1.67 billion when Google went public!

This is a price that will shock everyone!

And tomorrow, they will return to New York to receive the eyes of the world.

Fengxing Group will ring the opening bell of the New York Stock Exchange on July 19, 2007 and officially land on the New York Stock Exchange for trading!20110