"Mr. Wu, straight to the point, how much does your Wu family offer?" With an old fox like Mr. Wu who is vain, Liu Si doesn't feel that he can take advantage, or be more direct, less routine, and more sincere, maybe he can take advantage of it.

"Citibank said, Liu Shao, you are the boss of the Shunde Fund?" Wu Jieyi is not in a hurry to enter the formal path of this negotiation.

"It's not worth mentioning, Shun Tak Fund is a fund company under the kid family." Liu Shao has nothing to hide, which can be regarded as a bonus for him, after all, no one in Hong Kong knows that Shun Tak Fund has strong capital.

"Well, our Wu family has a little spare money, and we are preparing to do a little fund investment in the near future." Wu Jieyi smiled as if he had said something unrelated.

"It's okay for the Wu family to want to invest in Xinde Fund, but the matter of Xinde Fund is still discussed at the headquarters of Xinde Fund." Liu Si doesn't care what you say, how clever your tongue is, he just doesn't see the rabbit and doesn't scatter the eagle, "Mr. Wu, let's talk about the future of Wing Lung Bank!" ”

Founded in 1933, Wing Lung Bank is one of the oldest Chinese banks in Hong Kong, providing customers with a comprehensive range of banking services, including deposits, loans, investment and wealth management, credit cards, online banking, syndicated loans, corporate loans, bills, hire purchase loans, foreign exchange, insurance agency, Mandatory Provident Fund, etc. Wing Lung Bank also provides securities and futures brokerage, insurance brokerage and general insurance underwriting, property management and trust, and trusteeship services through its wholly-owned subsidiaries.

In fact, there are many banks in Hong Kong to sell, such as Guang'an, First Pacific Bank, Jianxin Bank, Chinese Bank, Union Bank, etc. But why do we look at Wing Lung Bank, which has not yet announced the sale of Wing Lung Bank, which is absolutely controlled by the Wu family, is because Wing Lung Bank, as the oldest bank in Hong Kong, except for a few banks such as Citigroup, HSBC, and Dao Heng, Wing Lung Bank's deposits, capital, and management structure are ...... It's all the best.

The reason why Liu Si is convinced that the Wu family will sell Wing Lung Bank is not only because they sold Wing Lung to IC in 08. It's because Wu Yisun and Wu Jieyi of the Wu family are too old to work too hard, and they are a little powerless to manage Wing Lung. In the second generation of the Wu family, there is no one who can take the lead, and the Wu family is not monolithic, in fact, the Wu family has that mind about selling Wing Lung Bank, of course, the premise of the sale is that they are satisfied with the price.

"Alas, the Wu family has so much property, and they are all targeted." Wu Jieyi's tone was very sad, "Liu Shao, or how much does the Xinde Fund offer!" ”

"It's okay, my Liu family will acquire all the shares of your Wu family at a fixed price of 36.5 Hong Kong dollars per share." Liu Si was not ambiguous, and directly quoted the current stock price of Wing Lung Bank.

"Does Liu Shao think the five companies will agree to this price?"

"Mr. Ng doesn't think that the price is low, the stock price of Wing Lung Bank is in this position now. If the Wu family's shares in Wing Lung Bank were sold off in the stock market, I don't think the share price of Wing Lung Bank would be HK$36.23. Liu Si leaned back in his chair and said comfortably, "Moreover, Mr. Wu thinks the Asian financial crisis has really passed?" ”

"Liu Shao's eloquence is much better than that of the unfilial sons of my five families, and he should give birth to a son like Liu Jia'er!" "It sounds very correct, but in fact, as long as I issue a statement announcing the sale of the shares of Wing Lung Bank held by the five companies, I think the price of HK$36.5 per share is not visible." ”

"Wing Lung Bank is a good deal, but Mr. Ng is too optimistic. Now, not to say that the Asian financial crisis has not disappeared, let's just say that my price of HK$36.5 per share is not low, and there may be a consortium that offers a higher price, but it is certain that it will not be much higher. "Without the large-scale entry of inland funds, the market value of Wing Lung Bank is not much higher. At its peak in August 1997, the highest price was HK$55.68 per share when it was speculated by Soros.

"Really?"

"Mr. Wu will quote directly!" Liu Si didn't want to spend time here, "We're all busy, hurry up." ”

"Alright! How about HK$100 per share? Wu Jieyi spoke.

Unexpectedly, his opening scared Liu Si to death, if it is 100 Hong Kong dollars per share, the premium will reach 500%, which is impossible, "This is impossible, my Liu family will pay up to 40 Hong Kong dollars per share." ”

"HK$90 per share!"

……

After a loud bargaining between the two sides, Liu Si looked at Wu Jieyi, who was not regressing, and had a headache, "Mr. Wu, in this way, I will pay the highest price this year at most, otherwise we will go back to our respective homes!" ”

Wu Jieyi frowned, very entangled, on the one hand, Liu Si's offer was very high, with a premium of 217%, on the other hand, the next generation of the Wu family was really unreassuring to hand over the ancestral business to them, time passed by a minute, Liu Si did not urge Wu Jieyi again, and unconsciously half an hour passed.

"I agreed to Mr. Liu's offer, but the other two branches of the Wu family can't guarantee it." Wu Jieyi finally compromised, and the 217% premium is very attractive!

Mr. Wu made a smart choice. However, as far as I know, 10% of Wing Lung Bank's stake was sold to DBS Bank. Liu Sike has no good impression of DBS Bank, first, it belongs to Xinjiapo Capital, and second, he is also the biggest opponent in the future acquisition of Hong Kong's banking industry.

"Well, that's right." As a listed company, equity transfer naturally needs to be disclosed, and Wu Jieyi is not curious why Liu Si knows about it.

"DBS Bank's 10% stake in Wing Lung Bank, your Wu family can buy back Mr. Wu's company first, and I agree to pay a price of HK$53.96 per share." Liu Si sat down and said with a smile, "After all, this money can't be cheap to outsiders, isn't it?" ”

Although Hong Kong's securities law does not clearly stipulate that the acquisition price of the acquirer of a listed company must be higher than the price of the previous acquisition of shares, because the Hong Kong securities law stipulates that when the controlling shareholder or major shareholder sells the equity, the price is too high and higher than the acquired interests of the remaining shareholders, and the majority shareholder or controlling shareholder needs to pay a premium to compensate the minority shareholders. Therefore, generally speaking, when the majority shareholder of a listed company sells its equity, there are requirements for the acquirer's subsequent tender offer and compulsory purchase price. In short, if the 10% stake of DBS Bank is acquired by Liu Si later, the price will not be less than HK$53.96 per share.

The reason why Liu Si wants the Wu family to come forward is that it is much easier for the Wu family to buy back 10% of its hands from DBS Bank than for Liu Si to buy it himself. Why? Liu Si's acquisition will definitely be blackmailed by DBS Bank, after all, the acquisition price must be higher

At a price of HK$53.96 per share, he can drag it slowly.

The Wu family is different, after all, the Wu family has controlled Wing Lung Bank for decades, and DBS Bank really has no intention of messing around with Wing Lung Bank in the hands of the Wu family, you must know that the Wu family absolutely controls Wing Lung Bank. It's best to get together and disperse, otherwise you can play Death DBS Bank. After all, Hong Kong company law basically controls more than 50% of the equity of a company, and generally the company is the controlling shareholder. Unlike the mainland, Hong Kong requires 2/3 of the voting rights to vote on any major issue, while Hong Kong only needs 1/2 of the voting rights.

"Yes." Wu Jieyi naturally had no intention of refusing to make money, but there were still some things that needed to be said, "So, Liu Gongzi, do I need any regulations for my Wu family to invest some spare money in the Shun Tak Fund?" ”

"To be honest, the Shun Tak Fund was not prepared to accept foreign capital at the beginning, but since Mr. Wu has spoken, the door of the Shun Tak Fund is willing to open to the Wu family once." Liu Si has nothing to say about this, "Mr. Wu will talk to the Shun Tak Fund the day after tomorrow!" Tomorrow I have to meet with the major shareholder of another listed company. ”

Liu Si didn't say it explicitly, but Wu Jieyi could hear that this was to acquire another listed company! However, I don't know which listed company it is, and there are too many companies under Xinde Fund that hold shares today.

Wu Jieyi's intellectual curiosity was revealed only the next day.

On November 21, 1997, Xingyu Holdings and Dadong Telegraph Co., Ltd. reached an agreement on the negotiation of Xingyu Holdings' acquisition of 53% of the shares of Hong Kong Telecommunications held by Dadong Telegraph Co., Ltd., and Xingyu Holdings wholly acquired 51% of the shares of Hong Kong Telecommunications held by Dadong Telegraph Co., Ltd. for US$2.581 billion in cash. At the same time, it acquired a 15.32% stake in Hong Kong Telecom Company held by CITIC Pacific at a cash price of HK$11 billion. At that time, Xingyu Holdings, together with persons acting in concert, will absolutely control Hong Kong Telecom, accounting for 86.29% of the equity.

At the same time, Dadong Telegraph also issued an announcement to confirm the authenticity of Xingyu Holdings' announcement, and on the last trading day of the week of November 21, 1997, the announcement was made at 2 o'clock in the afternoon, for which Hong Kong Telecom's share price suddenly increased by 318%, and the Hang Seng Index on the same day reversed by 2.86% in the afternoon.

Liu Sirang Xinde Fund issued an announcement and held a press conference on behalf of Xingyu Holdings, and he was at ease. However, in the next two days, Hong Kong citizens were full of discussions on this matter. In particular, I just know a little bit about Xinde Fund, but I haven't fully understood Xinde Fund, what the hell is Xingyu Holdings that appeared next?