Chapter 121: Capital Feast (1)
"$3!"
"$3.1!"
"$3.2!"
"$3.3!"
"Oh my God, the new offering of United Petroleum closed at $3.45 on the first day, an increase of 39% on the first day, which is incredible for a company with a total market capitalization of more than $1.2 billion! When did large-cap stocks also have such gains? Now the price-to-earnings ratio is at a high level of 40 times, and the average market price-to-earnings ratio is only in the early 20s...... "All the stock exchange veterans and traders exclaimed after the market closed.
"Charlie, I don't think your analysis is right, the annual oil production of United Petroleum (Algeria) is expected to reach 7 million tons this year, 50 million barrels, and the company's overall profit can at least exceed 30 million US dollars, which is 40 times the price-earnings ratio, but you must know that this profit estimate is very conservative, in fact, the oil production of this oil field is far more than 7 million tons, I think it can reach 15 million tons, and you can't use the current oil price to speculate the profitability level - Don't you see that the limit selling amount has exceeded $1.5? This figure will definitely be revised up next year...... For the oil field, after the completion of construction, the cost is locked, every $0.1 per barrel increase in price, means an additional $5 million in net profit, buying this stock, equivalent to holding a long-term crude oil bullish option, if the oil output doubles next year, it means that the price-earnings ratio is reduced to less than 20 times, if the price of crude oil rises again, it may only be 14-15 times...... Now it can only be said that it is normal, everyone is betting based on the judgment of the future! ”
When Contini received the news of the stock market, he was taking the fleet on a tour of Hawaii to enjoy the local hula dance, and when he heard that the price of United Oil had skyrocketed, he laughed: "Send a telegram to Uncle Antonio, and in a few days we will also reveal the hidden blocks, and we will add another fire." ”
On April 5, when Contini and others were preparing to cross the Panama Canal, United Oil disclosed two good news to the market: the first is that the oil transportation volume exceeded 23,000 tons per day, and the annual oil production was determined to be raised to 8 million tons; The second is the discovery of 3 new oil-producing areas, which can increase the existing reserves by 9%, and United Petroleum is ready to step up production, and will ensure that the export of more than 30,000 tons / day will be ensured next year.
This news directly pushed the stock price of United Petroleum to $3.7, with a market value of nearly 1.3 billion - this will not be said to be overvalued, everyone thinks that the price is still cheap, buy early and get rich early!
Seeing that the price of United Oil is rising, the United States and France are ready to grit their teeth and accept Antonio's price of Libyan shares, but coincidentally, on April 17, the day before Contini arrived in New York, the Libyan Authority announced new news: 2 large associated natural gas fields were discovered, and natural gas has begun to be injected into Libyan power plants to start generating electricity, and the energy structure of Libya will be dominated by natural gas in the future. The submarine pipeline is more than 600 kilometers, and it is relatively easy to lay pipelines in a sea area such as the Mediterranean, which is not deep.
This news finally stunned the Americans and the French - they did not buy the shares at 70 million, but now they are desperately buying at a valuation of 100 million, the three major French banks bought 15% and spent $150 million, the United States bought 25% and spent $250 million, and the valuation of the entire Libyan oil company reached $1 billion before the official IPO. However, there is an Algerian company in front of the target, and everyone thinks that it is more cost-effective. After all, when they first bought shares, they were only valued at 550-600 million, and now they have doubled.
Before Contini arrived in the United States, he had stayed in Cuba for a while, swept away $200,000 of fine cigars, which were local products to give away, and reached a deal worth $2 million worth of Cuban sugar, and even signed a "coffee-for-warship" contract with Colombia, and sold the reconnaissance cruiser Guardo to Colombians - instant coffee is now selling very well, and raw materials are urgently needed to be purchased. Jamaica's Blue Mountain Coffee has also purchased a batch, but these are all top-quality goods, and it is almost the same as giving them away, and it is too wasteful to be an instant coffee raw material.
April 21 is the Roman Day (according to legend, Rome was founded on this day), all the officials and naval officers and sailors who have followed the president on the trip for half a year have received gifts from the president - Chinese tea, Japanese sake, Cuban cigars, Jamaican coffee, and of course, American cigarettes, the president is very generous to the people around him, besides, the president who owns one-third of the shares of United Petroleum, and the president of 60% of the shares of the Libyan company, as long as the stock price jumps even 1 cent, it is tens of millions of dollars inflow, and the gift is really drizzle.
After giving the gifts, Contini announced at the press conference that he had been greeted by the mayor of New York: he had encircled a 240-square-kilometer special development zone in southern China, referred to as the Shenzhen Special Economic Zone, which was managed by Italians, and that Americans were welcome to invest.
First, the issuance of special zone construction bonds to support the relevant infrastructure, the United Group will set up a development zone to achieve water supply, drainage, electricity, roads, communications, ventilation, and site leveling conditions of "six links and one level", and at the same time to build ports, power stations, Guangzhou-Shenzhen-Hong Kong railway and other infrastructure in advance;
Second, preferential tax policies, all enterprises entering the development zone can implement the policy of two exemptions and three halves of income tax, and the income tax rate is only set at 25%, which is lower than the general standard, and there are preferential policies such as tariff exemption, sub-export tax and halving of centigold;
Thirdly, the planning and design department of the United Group showed a rough planning map: the port area, storage area, industrial area, residential area, commercial area, cultural and educational area, transportation area (airport) and other functions have all been distributed, and the United Real Estate will develop 1 million square meters of high-end demonstration residences, which is the result of the labor of the planners who pass with the ship in the past few months - in fact, they have little time to survey the site, purely drawing work.
In addition, he also answered questions about the development projects of the Italian Concession in Tianjin and the United Terminal in Shanghai, and said that he would issue US$300 million of China's special zone development bonds, which will be issued by the United Group rather than the special zone, so as to maximize capital strength and boost market confidence.
In addition, he also answered the question of the listing of the member companies of the United Group, which the reporters were concerned about: United Motorcycle will be listed in September this year, and United Petroleum (Libya) will complete the listing by the end of December this year.
This statement was warmly welcomed by the US side, especially the issuance of the 300 million special zone development bonds in the name of the United Group rather than the development company, and was commented by Wall Street people as a "consistently responsible" attitude.
After the meeting, Agnes suddenly asked: "Calais, I remember you seem to have told me that you are not going to invest a lot of money in China, build a wharf port, an airport, and get some ordinary factories to develop it, but today you uncharacteristically said that you want to vigorously develop it, and you also said that you want to raise 300 million US dollars in bonds, have you changed your mind?" ”
"No, I haven't changed, and I still have this attitude."
"What about the statement at the press conference?"
Contini laughed: "That's true, too. ”
Agnes was surprised: "No, even I can see that these two can't be true at the same time, you must have buried the foreshadowing somewhere." ”
"Mother...... "Don't forget what I said at the press conference today, what would I do if China's political situation remained stable and open and innovative...... This fully shows that I have a premise. ”
Agnes suddenly realized: "You are not optimistic about the direction of China's political situation? ”
"To be honest, the political situation in China has always been unstable, so I am very cautious, but I think this delicate balance is an illusion, and sooner or later the two sides will fight again." Contini smiled, "Italy's national strength does not allow me to pour too much into China, not to mention that China did not give me the right to garrison troops, so what if I gave it?" Can a few thousand people still fight a big battle? ”
"I see, you're painting the market, what's the benefit?"
"The benefits are many. First, with this gimmick, I can engage in $300 million in development bonds, borrowing money is not so easy to borrow, there must be a reason, this is a good gimmick, I believe Wall Street also understands; Second, it can indirectly drive the price of listed shares, everyone knows that my financing will definitely be carried out through Union Bank, which will increase his capital and profits, and knowing that I will definitely consume North African oil, which will increase the price of crude oil shares; Thirdly, I would enhance the gimmick of purchasing in industrial orders and push up the stock prices of key companies, and I own a lot of shares in American industrial companies, and if I release collaborations and large orders, their stock prices will also soar - so you see, I never sign contracts for the lowest price, I always look for me to hold the most shares, and I can maximize the benefits. ”
"I understand the first two points, and you can talk about the last point......
"At present, the main measure of stock valuation is the price-earnings ratio, and the mainstream price-earnings ratio of blue-chip stocks on the New York Stock Exchange is between 18-24 times, which means that for every extra $1 earned, it can reflect $18-24 in market value, then the business is very good." Contini smiled, "I deliberately signed contracts with these companies to give him $1 in benefits, and on the surface I lost $1, but in fact I own shares in these companies and can make more money from the rise in the stock price - this is the way to get it first." Moreover, it does not constitute a related party transaction, because the shareholder and the contractor are not the same, and the shareholder is not a major shareholder. You can't care about how you check it. ”
Agnes quickly calculated: "As long as you hold more than 5% of the shares, this kind of business will make a profit, and the more you hold, the more it will make a profit." ”
"This algorithm is more mechanical, in fact, if I want to reduce my holdings, I must continue to let the company release the good, so as to support the decline in the stock price in the process of reducing holdings, so even if I lose a little temporarily, I must convey it, and the reduction in the future is the biggest gain."