On June 16, 2004, Tencent was officially listed in Hong Kong, abbreviated as Tencent Holdings (stock code 0700, HK). Pen ~ fun ~ pavilion www.biquge.info

Listed on the main board of the Hong Kong Stock Exchange, Tencent offered 420.2 million shares at HK$3.70 per share, priced at the top of the initial price range. Goldman Sachs Asia is the global coordinator and sponsor of the listing. Tencent received 6.7 billion shares in Hong Kong's retail offering, which was 158 times oversubscribed! As a result, a top-up mechanism was activated, and retail investors were allocated 210 million shares, increasing the proportion of retail shares in the total offering to 50%.

The final subscription ratio for institutional investors is 30 times.

Tencent's initial public offering (IPO) will bring in net income totaling HK$1.44 billion (US$199 million).

Related: Tencent was founded in 1998, and as of the end of March 2004, its core product QQ had 291 million registered users, with a maximum of 6 million simultaneous online users. In 2003, the profit was 322.2 million yuan and the income was 735 million yuan. It is estimated that in 2004, Tencent's profit will reach 444 million yuan.

On the day of listing, Tencent's share price soared from the issue price of HK$3.70 to HK$4.55, an increase of 23%, and trading was very active, with a daily volume of 113 million shares.

In addition, after Tencent's listing, its main founders and senior management team have skyrocketed, producing 5 billionaires and 7 multimillionaires!

Among them, Ma Huateng holds 14.43% of the equity and has a book wealth of 898 million Hong Kong dollars, Zhang Zhidong has 6.43% of the equity and a book wealth of 400 million Hong Kong dollars, and the other three high-level Zeng Liqing, Xu Chenye and Chen Yidan hold a total of 9.87% of the equity, and the wealth of the three is 614 million Hong Kong dollars. The other seven senior executives of Tencent own another 6.77% of the shares, and the seven have a combined wealth of HK$422 million.

It is another feast of wealth created by the listing of Internet companies!

…………

Lin Feng sat in his office, looking at the rolling news report on Tencent's listing that was being broadcast on the CCTV financial channel on the large LCD TV hanging on the wall.

Raised his hand and looked at his watch.

It's almost 4 o'clock, the Hong Kong Stock Exchange is about to close, and the results of the first day should be out.

It didn't take long for Li Dong to excitedly push the door and walk in.

"Mr. Lin, through 18 investment institutions acting in concert, we swept 68 million shares in the market in one fell swoop by taking advantage of Tencent's active listing and trading today! The average price is 4.12 Hong Kong dollars. The use of capital is 280 million Hong Kong dollars. ”

Lin Feng nodded, silently calculating in his heart.

68 million shares, almost 4.25% of Tencent's total shares, the secondary market absorption is still relatively slow.......

"Let's absorb it slowly, my expectation for the secondary market is to win at least 100 million shares...... How did you talk to the investment institutions that have Tencent stock subscription quotas?"

"It's going well, our predicted share price for Tencent on the first day of listing is around 4.5 Hong Kong dollars, and the proposed purchase price is a 50% premium on this price, acquiring their Tencent shares at a price of 6.75 Hong Kong dollars! Compared with the issue price of 3.7 Hong Kong dollars when they subscribed, in just one week, the profit exceeded 80%. ”

"Hmm,...... How many shares do you expect to be able to take from these institutions?" Lin Feng asked.

Li Dong is full of confidence: "Now we have contacted 48 institutions according to the subscription list, and they have basically reached the intention, and the total number of Tencent shares held by these institutions is almost 190 million shares, almost 12% of the shares. ”

Lin Feng nodded: "Okay, then complete the transaction as soon as possible, so as not to have too many dreams at night!"

After thinking about it, he said in a deep voice: "Joe, do you have any channels to help me make an appointment with Roux, the president of MIH Greater China, I want to meet and talk to him." ”

Li Dong was surprised: "Don't you wait for a while?...... When we get more than 20% of the shares, will we be more sure to talk to MIH?"

Lin Feng shook his head: "No matter how many shares we receive from the secondary market and institutions, whether it is 5% or 25%, 37.5% of MIH will always be the largest shareholder, there is no difference...... Today, Tencent has just been listed, I believe that both the founder team including Ma Huateng, and the investor MIH will be very excited and excited, at this time their emotions are unstable, although the feelings for Tencent are closer because of the common honor and interests, but it is also easier to be moved and influenced by the time....... ”

"After the listing, whether to make a profit or continue to hold, I believe that MIH must have hesitated now, but out of confidence in Tencent and China's Internet, let them consider it, and finally choose to continue to hold. After a few days and calming down, MIH and the Tencent team will discuss the future development plan, and their sense of identity with Tencent will be restored. At that time, it was difficult to talk about. ”

Only then did Li Dong understand Lin Feng's intentions, he thought for a while, nodded and said, "There is a channel, I can directly get Roux's mobile phone number, and I will help you make an appointment with him!"

Lin Feng stood up: "Okay, we'll go to Hong Kong tonight!"

…………

It had just rained during the day, and it was a scorching hot night in Hong Kong in June, with an unexpected breeze and a pleasant coolness.

Lin Feng, Li Dong, and Li Zhao sat in the Rolls-Royce that greeted him on the peninsula, galloping through the streets of Hong Kong.

Lin Feng silently looked out the car window at the night of Hong Kong after the rain, thinking about the possible outcome of this meeting with Roux.

If you can convince MIH, of course, it would be great, and everyone will be happy.

Although the two parties can only sign a restrictive equity transfer agreement with restrictive clauses due to the restriction period of the major shareholder, it also means that the success of Fengxing's acquisition of Tencent is only 6 months late.

If the conversation with MIH doesn't go well, then the follow-up will be very tricky!

The popular acquisition will turn from dark to light.

At that time, since the grass has been beaten and the snake has been frightened, if you don't want to give up halfway, the wind must be hard!

Fengxing will make a public announcement of the takeover, file a tender offer with the Hong Kong Stock Exchange, submit a tender offer to Tencent's board of directors, and if Tencent's board of directors rejects the takeover offer (which Tencent will obviously reject), it will enter hostile takeover mode......

That's a takeover war!

It depends on the comparison of funds, resources, and strength of the two sides, and the tactical measures of acquisition and anti-takeover, who is smarter, who is more prepared, and has more abundant resources.

If a "white knight" comes out from the side, things will be even more troublesome!

At that time, not only will the cost of Fengxing's acquisition of Tencent increase significantly, but the difficulty of the acquisition will also become hellish.

There are only two possibilities for an acquisition to succeed.

First, the popularity of pure money to pressure people, the purchase price to make the "white knight" retreat, so that the vast majority of shareholders, including MIH, can not refuse .......

Second, the hostile takeover has turned into a bona fide takeover, and Fengxing has to use all its resources to use various strategies and methods, both soft and hard, so that Tencent's board of directors and most shareholders will change their attitude and express support for the popular acquisition.

Either way, it's not something that can be done easily.

Therefore, the best thing to do is that tonight, Lin Feng can impress Roux in one fell swoop, so that MIH, the majority shareholder who holds 37.5% of Tencent, is on the side of Fengxing!

…………

According to the directors of Tencent's IPO prospectus, MIH, as a major shareholder, has two members of Tencent's board of directors.

Antonie Andries Roux and Charles St Leger Searle.

Antonie Andries Roux, aged 46, has been a non-executive director of Tencent since 10 December 2002. Mr. Roux has been the chief executive officer of the Internet business of the MIH Group of Companies since 2002. Mr. Roux joined the Naspers Group in 1979 and co-founded M-Net in 1985 and was appointed Chief Executive Officer of M-Web South Africa in 1997. Mr. Roux is currently a director of certain subsidiaries and associated companies of MIH, including SH Huati, Mweb (Thailand) Limited and M-Web Holdings (Pty) Limited. Mr. Roux has over 25 years of experience in the telecommunications industry.

It can be said that although it was the idea of Charles, MIH's director of Asian development, when he first invested in Tencent, and Charles had a very good relationship with Tencent's founding team, it was Roux who really had a say in MIH's Internet affairs.

This meeting was very secretive, and Lin Feng finally chose to be in the presidential suite where he stayed at the Peninsula Hotel.

Roux had just finished attending Tencent's listing celebration dinner in the evening, and half drunk, got into his Bentley and prepared to return to his villa in Mid-Levels.

Received a phone call that made him dissipate most of his drunkenness in an instant.

"Hi Mr. Roux, I'm Joe, CFO of Popularly Online. I don't know if you have time in the evening, my boss Lin Feng, I want to meet you to talk. ”

Of course Roux knows Li Dong, and he knows Lin Feng even more!

He began to pay attention to the company when Fengxing began to rise in China's Internet industry last year.

Then Lin Feng took advantage of Menglong's listing, a series of dazzling acquisitions, Fengxing began to amaze everyone, and became one of the most dazzling companies in China's Internet industry in early 2004.

Just half a month ago, Fengxing suddenly released its core product "FF voice" communication software without warning, aiming at Tencent's QQ, which made Tencent's board of directors including him panic for a while, and wasted their precious three-day roadshow time just to appease investors.

At the celebration dinner of Tencent's listing just now, Tencent's CEO Pony Ma was still talking to him about his concerns about the popularity -- this company has apparently become Tencent's biggest competitor in China's Internet field, which has just been listed!

Lin Feng wants to see him?!

Is something going to happen?!

Roux felt a cold sweat break out all over his body, and the wine was all sober!

“…… OK, I have time, where can I see Mr. Lin?" replied Roux, who calmed down for a moment.

In any case, Roux felt that he had to meet Lin Feng first to know what he wanted to do? Perhaps, Ma Huateng's uneasiness and speculation during this time was true!

"The presidential suite on the top floor of The Peninsula Hotel, Lin Dong is waiting for you there. Li Dongdao.

…………

Roux came to the door of Lin Feng's suite, and Lin Feng's bodyguards helped him open the door.

The first thing Roux saw was a man standing in front of a floor-to-ceiling window, quietly gazing at the night view of Victoria Harbour.

This person has appeared on the front page of major financial media at home and abroad countless times, and has been called "business genius", "the youngest billionaire", and is known as the "twin star" of China's Internet along with Shanda Chen Tianqiao (in fact, regardless of age and wealth, Lin Feng is far more suitable than Chen Tianqiao for the title of "Xingchen").

is only 25 years old, but he has created countless business legends, and is worth more than 10 billion Hong Kong dollars, Lin Feng!