Just when Zhongshi was planning to make a big move in the United States, Hong Kong's acquisition of Huade Real Estate also went through twists and turns.

First of all, Standard Chartered's acquisition team made waves in the stock market, repeatedly speculating on Huade Real Estate shares through different accounts, so that its trading volume was amplified and attracted the attention of the market.

You must know that the stock trading market in Hong Kong is a bit strange, that is, T+0 trading and T+2 delivery, to be precise, the stocks bought on the same day can be sold on the same day, which is very different from the trading rules in the mainland. Naturally, the T+1 trading model is set up in the mainland to prevent large-scale manipulation of short-term funds.

The T+0 trading model is not surprising, most of the developed capital markets on shijie are this trading mode, and the strange thing is that the T+2 delivery mode is to buy stocks on the same day, and they can be delivered within two working days at most, and stock holders have a lot of articles to operate within these two days.

For example, for example, to buy a stock worth 100,000 yuan, but it does not necessarily need to have 100,000 yuan in cash in the stock account, often in order to ensure the normal completion of the transaction, the securities bank needs to reserve at least a certain amount of funds in the account during this period of time, which is about 30% of the transaction amount, that is, 30,000 Hong Kong dollars.

This is a bit of a futures, but the time from delivery is a little short, but in the eyes of professionals, such rules can undoubtedly be greatly used, coupled with the T+0 trading model, it can definitely allow people with advanced trading skills to play the stock out of the taste of futures.

The people in Standard Chartered's Acquisition Department cleverly used this rule to leverage three times the market value with a small amount of capital. The stock price of Huade Real Estate has been on a roller coaster ride in the last one or two months of trading, and the stock price has changed day by day.

However, this kind of behavior is obviously market manipulation, if it is detected by the Hong Kong Securities and Futures Commission (SFC), it will definitely be a sky-high fine, and some specific practitioners will be banned from the market for a certain period of time, and more serious may be the revocation of Standard Chartered's financial adviser license.

Therefore, in the preliminary preparation for this acquisition, in addition to its own trading seats, Standard Chartered also used the positions of other brokerage seats, and prepared a lot of decentralized accounts in terms of accounts, and the natural persons of these accounts were naturally greeted by Standard Chartered in advance, and those legal person accounts may be registered on a small island in the Caribbean Sea. Let the SFC be uncheckable.

The strangest thing is. The board of directors of Huade Real Estate did not have the slightest vigilance against the inexplicable fluctuations in the stock price, which was related to their arrogant mentality on the one hand, and on the other hand, Zhao Jiajie, the instigator, did not tell the truth about the situation when Zhong Shi warned him to buy their family business in person.

He knew he was in for a terrible disaster. But there is still a fluke mentality. In his heart. Still can't believe just a few words offended. will lead to the fate of being acquired. Since the end of the last party, he has been paying close attention to the changes in the stock price of his own industry, which at least shows that he is not a pure playboy.

The top of the Zhao family. Especially Zhao Jiajie's father, Zhao Shixiong, the helmsman of the Zhao family's generation, is still very pleased, thinking that this potential successor has also begun to learn to care about the business of the family industry, and even in his heart, he plans to let Zhao Jiajie take charge of a small subordinate company in a while.

How did Zhao Jiajie, who had ghosts, and Zhao Shixiong, who was still in the dark, know that a takeover war against their group had quietly begun.

Although Zhao Jiajie observes the stock market every day, with his little bit of Taoism, where can he see the advanced strategies of these investment banking departments? At most, he only saw that his stock price suddenly skyrocketed inexplicably at some point after the New Year, and he thought it was a good thing, so he didn't take the acquisition to heart anymore, but in fact, he missed a very good opportunity to counter the acquisition.

You know, in the case of knowing that someone has acquired, the board of directors of Huade Real Estate is entirely likely to prepare a set of anti-takeover strategies, take the stock market as an example, they can raise the stock price in the process of the other party in the early stage, and then throw out a part, and then re-absorb the sold shares when the other party is shocked.

Even more severely, when the other party knows the intention of the other party, the team of an international investment bank, such as Goodman and Stanley, who is very experienced in M&A, is invited to join the team of an international investment bank, such as Goodman and Stanley. If the other party buys in cash, although Zuihou may not be able to preserve the company, it can at least sell it at a price that is enough to satisfy most people. In the case of a leveraged buyout, whether the acquisition is successful or not depends on two questions.

You must know that the capital market in the 80s was basically the world of M&A funds and bond funds, especially the M&A business, which produced many classic cases of snakes swallowing elephants. Often, an M&A fund and a bond fund, especially a junk bond fund, can swallow a large company with a market value of billions of dollars through highly leveraged financing, and these buyout funds can sell the company's business one by one through restructuring and packaging after swallowing such a company, and can still get out of the way after obtaining maximum profits.

In fact, before Soros creatively made a $2 billion profit in '92, the holder of Wall Street's highest annual income was junk bond magnate Michael Milken, and most of his income that year was earned through junk bond issuance in the M&A process.

Junk bonds are bonds issued by companies rated BB by S&P or BA by Moody's, which tend to have a higher risk of default, but also have a correspondingly higher yield than ordinary bonds.

It's a pity that Zhao Jiajie's cowardice for a while made such an opportunity go in vain, so that at the board of directors of Huade Real Estate later, Zhao Shixiong was also dismissed by many directors under this pretext.

After two months of preparations, Standard Chartered's acquisition department began to work on Ward Real Estate, first a large number of sell-offs appeared in the market, giving a head-on blow to the participants who continued to amplify the trading volume, and then various rumors about Ward Real Estate began to circulate, although the management of Ward Real Estate repeatedly claimed that there was no problem with the company's business and management at this stage, but it still could not change the daily large-scale sell-off.

In this case, the first reaction of ordinary investors who hold Huade Real Estate is to liquidate their stocks, which to some extent reinforces the panic in the market, and once this sentiment spreads, it is difficult to stop.

Huade Real Estate's stock fell one after another, during which although Huade Real Estate announced a share buyback, but the stock price only stopped for a while and continued to fall, as if there was a pair of hands controlling the downward trend of the stock price, and the trading volume still showed no signs of shrinking when it continued to fall.

The board of directors of Huade Real Estate is bitter, although they want to put out some cash to bolster confidence in the market, but during the period when the stock price is falling, they have not absorbed much leverage at all. Not only that, but they were not prepared for the stock price rise in the early stage, and they did not have much cash reserves to put in the market at this time, which made them very dilemma.

The board of directors and management are at a loss, but on the Standard Chartered side, repeated position swaps and stock price suppression are in full swing, and they have now absorbed more than 20,000 lots of shares, and it is not far from the 50,000 lots that will be raised.

"What's going on now?" In an office building in Central, Cheung Ka-keung stood in front of the floor-to-ceiling window and looked at the Huayin Building not far away, and asked casually, but the slightly beating corners of his eyes betrayed his true heart at this time.

In this case, it seems that the winning game is in hand, but there are unexpected situations at any time, for example, a fund jumps out to attract funds, after all, Huade Real Estate is a company with a complete business structure, full profit expectations and good development prospects. It's not surprising that this happens, but it will destroy their jihua that absorbs chips.

"There aren't a lot of chips in the market, but there's no problem with absorbing 50,000 hands. Oh, by the way, there is a fund that wants to sell its Huade Property Fund and is said to be in the market for a buyer right now. A female secretary replied in a voice. Her name is Li Mingli, and she is an assistant in the M&A department of Standard Chartered Bank, although her figure is very angry, but all the traders' eyes dare not cast on her. Soon after she came to work, most people realized that she was a workaholic and a legal professional. Once, a trader who usually has a flirtatious demeanor just inadvertently touched her little hand, and she was almost sued for sexual harassment.

Li Mingli came to help Zhang Jiaqiang, as a junior assistant in an investment bank, they are basically workaholics, and sometimes they even need three all-nighters, but their work is often meaningless, most of them are paperwork, and 99% of them have to be denied by their superiors, but this is their job. It's like when Lehman Brothers went bankrupt in later generations, junior assistants were still working overtime the night before they went bankrupt, and the company was gone the next day.

"How many do they have? How much does it cost? If it's moderate, eat it all! After a flash of excitement on Zhang Jiaqiang's face, he pretended to order as if nothing happened.

Unlike listed companies, publicly offered funds need to publish their net value every day, and if the net value fluctuates too much in the short term, it is likely to cause redemption by investors. This fund must have placed a heavy bet on Huade Real Estate, and the decline in the price of heavy stocks during this period also put great pressure on the fund managers, and they had no choice but to release the shares of Huade Real Estate in their hands.

Li Mingli nodded and motioned for herself to write it down.

"In addition, let people go out, as long as the price is reasonable, we can eat all the shares of Huade Real Estate." What Zhang Jiaqiang said about us is naturally the party to the acquisition. (To be continued......)

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