Chapter 59 - The Right of Veto
The news that Jumian Textile Factory was going to raise three million directly shocked the entire Qiongbi City.
Most people have never seen such a large scale of public fundraising.
Whether there is private or not, everyone does not know, but this public seeking financing from the society on such a large scale is the only one in Qiongbi City.
For a time, the giant cotton textile factory, like the tulip candy industry in the previous two months, instantly became the topic and focus of Qiongbi City.
And the degree of fiery is much higher than that of the tulip sugar industry at that time.
After all, the reason for the popularity of the tulip candy industry at that time was that the prize money for the first place in the competition was as high as 6,666 joint coins.
And now, the giant cotton textile factory is going to raise 3 million joint coins!
There is no comparison between the two.
However, this does not mean that the tulip sugar industry has been completely crushed.
Because when the tulip candy industry first became popular, most people had a great sense of participation, and they felt that they could get a bonus.
And now the Jumian Textile Factory is on fire, but this financing has nothing to do with ordinary people, everyone has no sense of participation, and they are completely melon-eaters.
So each has its own fire.
Of course, ordinary people eat melons, and those businessmen and magnates are a little surprised and curious.
What confidence does Jumian Textile Factory have to shout the slogan of financing three million?
Is the boss crazy? Or is there something else going on? Or is there really a way to get rich?
People don't know, but everyone cares.
Soon, some people heard some news - after receiving investment, the giant cotton textile factory will build several new factories, recruit a large number of people, buy raw materials, and buy steam looms.
It is said that this can reduce costs, many people are very puzzled, this is obviously spending more money, how can it be to reduce costs?
Jumian Textile Factory did not explain further, but said that if the financing went well, it would be able to produce fabrics at a lower price than the market price.
At present, the lowest weaving cost in Jombi City is Sandy Textile Mill, accounting for 50% of the city's share. The price of the fabric they sell is the market price of Qiongbi City.
If the cloth sold by Jumian Textile can really be lower than that of Sandy Textile Factory, it will be amazing!
This means that they all have the possibility to beat Sandy Textiles!
Of course, this is all gossip from the giant cotton textile factory, and we have to see how it is. And they didn't disclose much data, just vaguely saying that it was possible.
But the more this is the case, the more attractive it is.
For a while, most of the people in Qiongbi City were talking.
Although many people are not optimistic about them, thinking that they will not be able to raise funds, and even if they do raise money, they will lose money.
But some people think that if there are big guys to follow, they may be able to invest and try?
As for the other small textile factories in Qiongbi City, they are trembling, don't care if they can get capital, but this looks scary!
If they can really keep costs down, then Sandy Textile Factory may not be fine, but their small factories will be unlucky - there is already Sandy Textile Factory on the sidelines, and now there is a larger situation of textile factories, and let these small factories not live!
Sandy was shocked to learn the news, but he didn't believe it.
He thinks it's all a gimmick.
"Impossible, absolutely impossible! Can they reduce costs? No matter how low their cost is, they can't have as low labor as ours, and they will never be able to raise so much money. After all, three million, this is a big gamble, no one dares to bet like this! ”
Sandy said categorically.
Reduce costs? He said as his three-generation textile tycoon that only their Sandy Textile Factory had the lowest cost in Qiongbi City!
Even if you can really reduce the cost of a slight, it will not be enough in front of his Sandy textile factory.
The others weren't as sure as Sandy, and they waited for news three days later.
For a time, Qiongbi City was about to come in a storm.
……
Jumian Textile Factory has a real value of 500,000 yuan, a valuation of 3 million, and 66% of the shares are used for external financing.
The reason why this number is because the current situation is a little embarrassing, and if the valuation is too high, others will definitely not recognize it. If the valuation is too low, then there isn't enough money for Roy's plan.
So after doing the math, three million is still more appropriate, although the price is still not low, but it is not sky-high for some businessmen. However, the shares in the company need to be taken out.
There are no rounds of financing here, it all depends on how much you value and how many shares you take out.
Plan's 30 percent stake was diluted to 5 percent; Hansen's 21 percent stake became 3.5 percent.
Roy's 49% stake became 8.17%, and he invested another 55,000. With the addition of the previous 245,000, a total of 300,000 yuan was invested and 10% of the company's shares were obtained. At present, the 300,000 cash that Tulip Sugar Company made a profit last month was all invested by Roy.
The total stake of the three is 18.5%.
This stake is too small, and there is no right to speak at all, which is something that Puran and Roy can't bear.
But Roy has a backhand, and he finds Henry, the vice president of the Jombie City Commercial Bank.
said to give Henry a chance to make money - the commercial bank invested 465,000 yuan and obtained 15.5% of the shares of the Jumian Textile Factory, while the commercial bank does not participate in the operation and management, and only enjoys dividends and other rights.
This condition is not harsh, because the major banks invest in a lot of projects, and they rarely point fingers, and they are the favorite investment companies of the bosses. So it's nothing to them.
In this way, the Roy trio plus the commercial bank have a total of 34% of the shares.
This stake does not have absolute control, as is the case with 51 percent, but it has a veto power.
Because according to the law, when a company wants to decide a major matter, it must be approved by two-thirds of the shareholders. So as long as you control more than one-third of the shares, you have a veto. 34% is just over a third.
The negotiations with the commercial banks, or rather, with Henry, went well.
Roy has a good personal relationship with him, and coupled with all the things before, Henry still trusts Roy very much.
And because of the rise of the tulip sugar industry, even Henry's status in the bank has been improved to a certain extent. Now the bank's investment of less than 500,000 yuan, he can personally call the shots, so the matter is quickly negotiated.
Roy, Poran, Hansen and Henry represented the commercial bank, and the four signed a contract.
The contract stipulates that the four people have the same goal and must not harm the interests of the other three. In their absence, Puran could exercise the rights of the three without harming the interests of the three and did not interfere with the decision of the three people.
Roy has long said that he will not participate in the management of the company, and it is okay to come up with ideas, and forget it when he is in management. The same goes for Hansen and Henry.
Therefore, it can be simply understood that Puran can exercise the right to 34% of the shares.
In this way, although the CEO of Puran cannot control the company 100%, he can control the company relatively safely and prevent some unfavorable matters from passing.
The four are a small group, controlling 34% of the shares. There are still 66% of the shares left, with a total of 1.98 million yuan, that is, 30,000 yuan for every 1% of the shares.
Soon, Jumian Textile Factory released the news of officially opening financing.
Most of the wealthy people in Qiongbi City came to the Jumian Textile Factory with great interest. The other thing to say is whether to invest or not, mainly to see if this three-million enterprise will appear in front of their eyes.