In early March, Contini and others arrived in New York and were warmly welcomed by Wall Street tycoons - the last time the United Group made a whirlwind purchase was still fresh in people's memory, and now that the God of Wealth is here again, how can it not make people laugh?

However, when they saw that the female companion next to the two was Vivian instead of Ada, the tycoons were still stunned for a moment, because they all had their own news channels, and they already knew that Contini and Ida had established a boyfriend and girlfriend relationship, and some people swore that the two would be officially engaged next year, that is, in 1928, when Ida turned 18 years old.

Although Francisco explained that Vivian was his daughter and accompanied him to New York, the tycoons were all cunning figures, so it was natural to see Vivian's affection for the president between his eyebrows, and more importantly, Contini himself did not seem to shy away from or resented this feeling. The tycoons knew in their hearts that either the president especially needed to encircle this capable subordinate, or the president had a leg with this beautiful lady, and in short, he couldn't be lazy - in fact, these two factors accounted for all.

So they all fooled around and treated Vivian as Contini's female companion, but no one asked about each other's relationship so uninterestingly, and Contini just laughed it off. Of course, Vivian is still more image-conscious outside, trying not to maintain too intimate relationships with Contini in public as much as possible - it is not good to spoil the perception in Ada's mind, and no one can break this balance.

According to the agreement signed between Merrill Lynch, Lehman Brothers, and JP Morgan and the United Group, they formed a joint sponsor team to escort the listing of Union Bank and United Petroleum (including only Algerian companies for the time being), and the schedule showed that Union Bank was to be listed before mid-1927 and United Oil to be listed before mid-1928. However, due to the booming U.S. stock market, several giants have continuously urged to go public as soon as possible, from June 27 to April, and later said that they could be listed at the end of March.

Originally, the major investment banks valued Union Bank at $400 million, and then issued 25% more shares to make it worth $500 million, and then it is expected to break through to 600 million by the end of the year. However, due to the fact that Leo did not transfer losses in order to go public and raise funds last year, but greatly allowed Union Bank to reflect its profits, so the valuation of 400 million is a bit low, and the consortium suggested that the valuation should be directly placed at 500 million. The question now is whether to issue an additional 20 per cent or 25 per cent of the shares, which is up to Contini to decide.

The advantage of an additional 20% issuance is that it can not dilute the equity of the United Group, so that its control rate over the bank can still barely approach 50%, and the advantage of an additional 25% issuance is that it can raise more funds, but the control rate of the United Group will drop to about 46%, although it is still the largest shareholder of the United Group, but it may face challenges. As an investment bank, it is natural to hope that the more shares are issued, the better, so that they can get more issuance fees.

Contini smiled and didn't speak.

Francisco made it clear that he still wants to pursue diversification of shares - the United Group does not seek a monopoly and is willing to make a fortune with the American consortium, and at the same time said that it may acquire some small and medium-sized banks as branches in the United States by issuing additional shares after the listing is completed, but promises not to pose a challenge to the current Wall Street giants - this bank is mainly oriented to European-American financial flows.

This statement made all parties very happy, additional issuance and acquisition? Doesn't that mean that there is a distribution fee to get again?

The second focus is on the issue of the issuance of United Oil: because Libya has recently raised the number of reserves in succession, and the pipeline in Benghazi has also been laid to consider oil production, Wall Street is encouraging Contini to include Libyan oil fields in the United Oil System and list them together, so that the existing valuation can be increased from 800 million to more than 1.2 billion.

However, Contini rejected this idea, and his attitude was very clear: United Oil will not be listed as a holding company itself, but Algeria and Libyan oil will be listed separately.

This statement has left investment bankers feeling a little baffled: why should two companies that want to be similar in nature and content be separated separately? Afraid of antitrust laws? But let's not say that the anti-monopoly law of the United States cannot deal with foreign companies, and these two oil fields themselves do not constitute a monopoly?

However, Contini succinctly elaborated on the relationship between the Algerian oil fields and the French, which everyone understands - the French government is of course backing down now, but the time bomb may still explode, but Libya is different, and it is clear that Libyan oil will be more reliable and safe.

So Contini's arrangement is interesting: Algerian oil intends to go on the market at the end of this year and early next year, while Libyan oil is postponed for half a year. The public reason is that Libya's current pipelines and oil production are not stable, Algeria can produce 5,000-6,000 tons of oil per day, and Libya is only at the level of more than 1,000 tons, the difference is too big, in fact, everyone understands the subtext, and he wants to sell it at a good price.

The consortium is very enthusiastic to intervene, everyone believes that Algerian oil shares have been almost divided, the shareholding ratio of the United Group has been reduced to about 42%, after the issuance of another 20% of the shares, the shareholding level will be reduced to a little more than 33%, can only look at the position of the largest shareholder and veto power, has lost the right to an absolute majority.

[Refresh after 30 minutes, please support the starting point genuine]

"We're talking about how to transfer money from the United States to Italy."

"Do you have to worry about this? With cashier's checks and checks...... That's how I got those millions of dollars back last time. ”

"But what if it's not millions?" Contini gently hugged Vivian's waist and said in his ear, "I have a few hundred million dollars to transfer back, and I don't want the Americans to find out the truth." ”

"Uh......" Vivian was also stunned, she didn't expect Contini to say this, and after thinking for a long time, she said, "Then I can't think of it, I only have a stupid way, exchange the money for gold, jewelry, diamonds and other valuable things and then ship it back!" It's better to have gold, not to mention that this thing retains its value, and it is easy to value! Jewelry and diamonds are sometimes priceless. ”

"Baby, you're so smart!" Contini was not overjoyed because Vivian reminded him that he could use gold and diamonds to transfer wealth, but he suddenly remembered that after the Great Depression began, Britain and the United States and other countries successively broke away from the gold standard, and the United States also implemented the "Silver Act".

"I hate it, people are stunned by you......"

"I'll check it for you." Vivian felt dizzy on his head, but the part that the domineering president "checked" was underneath, and in order to facilitate the "inspection", he also began to untie his clothes......

After spending the afternoon in the boundless spring, I continued to sit down at dinner time to ponder the question of how to maximize the benefits of capital. Now that the plan to ship the money back has been figured out, and even the idea of hoarding precious metals such as gold and silver has been approved by Francisco, the focus of the problem is how to harvest the stock - to sell the stock without causing a market crash, or at least not to let the stock market collapse until the stock is cleared.

"There are two ways: first, from next year onwards, such a large number of stocks to change hands, not a day or two, a week, two weeks or even a month or two months can be cleared, must last for a long time, so it is impossible for all stocks to be thrown at the highest point, must continue to retreat, each time using an opportunity to retreat or sell; Second, we set up a securities company to conduct formal over-the-counter trading ......"

Contini asked curiously: "What is a formal OTC transaction?" ”

"The so-called over-the-counter transaction does not actually hold a real position, but the organizer takes advantage of the concentration advantage to match the bet before the investor, and if it cannot find a suitable counterparty, it will make a bet with the investor." Francisco smiled, "But you're different, you hold a lot of stocks, so if they want to buy, you can just cut out the stocks, so that you don't actually enter the market to carry out price locking and hedging, really when you sell, there is no problem with any price, anyway, it's already locked, of course, you have to trade the active part, inactive stocks can't......"

Francisco spoke with great interest for most of the night, telling all the routines of how to cut leeks: what is high and upside, distribution at high prices, good shipments, bad chips, following the trend of selling, creating concepts, and shaking the market, all of which are theories that Contini has heard of but never practiced, and Leo has also talked about these truths, but Leo is too awkward and too theoretical, and there is no vivid image of Francisco.

"Of course, I am also talking in generalities, after all, I also realized after observing that the real operation needs to hire a few good level traders, a good strategy is the premise, and the trader is a tactic, which must be cooperated." Francisco laughed, "But we are different from ordinary stock speculators, banks are a combination of finance, credit, interest rates and cash flow, so sometimes the approach is more conservative, not as aggressive as theirs, either get rich or bankrupt, the risk control of the bank makes it impossible for me to do this, so we usually don't bet on unilateral, basically with the foreign exchange, bond market and even the bill market, and if we do it in the United States, we don't have to think about it so much. So you need good traders. ”

Contini smiled and nodded: "The trader is not in a hurry, I have the right candidate." ”