Chapter 1538 (1/2)

Longhua is going to IPO, Weibo is preparing for IPO, and Teng Xun is preparing to resume trading.

In the first five years, none of the industries under Li Dong went public, or even had the idea of listing.

After five years, it's time to harvest.

Although Longhua is not a distant industry, Li Dong currently holds 20% of shares, which is definitely not low.

Just when Li Dong gave himself a vacation, he made some fine adjustments in the distance.

Teng Xun's microblog industry, including some technical patents, was acquired by Li Dong with 2 billion cash. Teng Xun's microblog is bound to be incorporated into the remote microblog system. Other technologies and patents are also shared with microblog from afar.

The 10% shares of the mall were not actually financing, but Li Dong's personal shares.

So this money, you don't have to share it with others.

This time, microblog shares have also made some small changes. According to the means of capital increase and share expansion, microblog has issued 20 million shares of equity.

Originally, the equity of microblog was 300 million shares, but now it has been expanded to 320 million shares.

Li Dong's own share capital increased from 14 million shares to 120 million shares this time.

The other 4 million shares, on the eve of the IPO, were once again regarded as rewards and distributed to employees.

The last equity award was last year.

This year, microblogging has expanded rapidly and its staff has expanded a lot, including the entry of some foreign executives, and 4 million shares as a reward, which can be accepted by major institutions.

So far, Li Dong's personal shareholding ratio has expanded from 34.67% to 37.5%.

However, the shares held by microblog and remote executives have increased from 10 million shares to 14 million shares, up to 4.375%.

On the other hand, Li Dong and the senior management hold nearly 42% of the shares.

In fact, according to the valuation after the C round of financing, the price of microblog per share is 25 US dollars, 20 million shares, that is, 500 million US dollars.

Excluding the 4 million shares awarded, the value of Li Dong's increased 16 million shares has reached 400 million US dollars, which is much more than the value of Teng Xun's microblog.

Although Teng Xun's microblog was bought by Li Dong for 2 billion yuan, it actually attached a lot of technologies and patents.

However, the technology and patents from Teng Xun in the distance are also shared with Weibo.

Moreover, on the eve of the IPO of Weibo, major shareholders and managers also have the right and obligation to adjust the ownership structure.

Li Dong did not choose to buy back the share capital of other institutions, but chose to increase capital and share. A little difference in value is acceptable to all.

What's more, Teng Xun micro blog single listed, perhaps not high value.

However, Teng Xun's Micro blog also has a number of loyal fans, including some technical research and development, which also have complementary effects with remote microblogs.

At this time, the value rose slightly. As long as it was not too much, some capital institutions chose to default.

After the capital increase, the total value of microblog is more than 8 billion US dollars. In fact, the expansion after round C is not included.

At this time, before the IPO of Weibo, the final ownership structure was completely determined.

The total share capital is 320 million shares, including 120 million shares held by Li Dong, 14 million shares held by management and employees of remote and micro blog, 39 million shares held by state-owned financial institutions, 10 million shares by Baidu, and 7 million shares by private funds such as Weigang fund or other small and medium-sized investment institutions in China.

In other words, the investors of Yuanhe and Guozi, including the domestic capital, accounted for 190 million shares in total.

And IDG, Sequoia, Goldman Sachs, big and small mo These foreign institutions, together, account for 130 million shares.

……

When Longhua officially began to run for IPO, the remote side also began to rush for micro blog IPO.

Compared with Teng Xun, Teng Xun only resumed trading, but also resumed trading in Hong Kong stock market. In fact, the process is much simpler.

This is also the reason why many enterprises choose backdoor listing. The key is that the time is short, the process is not complicated, and the approval is easy.

Microblog, which has introduced too many foreign institutions, is a global social platform. If it is still listed in China, it will not be in the interests of some countries.

Based on this, Weibo initially decided to go to the NASDAQ listing.

In fact, if not beat Teng Xun, and Teng Xun this shell is perfect, maybe PP listing, will also choose to go to NASDAQ.

Of course, with Teng Xun's foundation here, at this time Teng Xun gave up this shell, which is a pity.

In addition, the instant messaging software such as PP is still popular in China. It has been occupied by the giants such as MSN in foreign countries for a long time. In fact, the instant messaging system is still dominated by Huaxia.

PP is listed in Hong Kong stock market, which has not been opposed by many people. If microblog also chooses Hong Kong stock, many people will oppose it.What's more, the Hong Kong stock market is not big after all. It's almost enough to support a Teng Xun. It's not so difficult to cultivate a second microblog with a market value of tens of billions of dollars.

NASDAQ will bring more benefits to people.

……

Far away.

Li Dong really doesn't come to the company any more these days. His wedding date is approaching and he has no time to decorate his new house. He is wandering around with Shen Qian these days.

Yuan Chengdao didn't want to look for Li Dong before there was no big change in the distance.

At this time, he called Li Dong when something happened, which proved their incompetence.

Not long ago, the board of directors had just been adjusted, and the rights of several executive directors of Yuan Chengdao were greatly increased. At this time, it was the time to consolidate power, and Li Dong was not the best.

As a matter of fact, Li Dong decided on the pattern of the board of directors the day before he left the company. Maybe it was just in consideration of these that he gave them special space.

……

In the conference room.

Yuan Chengdao held the first formal board meeting in which Li Dong was not in the company.

This time, Sun Tao and Wang Yue did not come back, but Liu Hong did.

Wang Xin, CEO of Weibo, also attended the board of directors.

This time, we are discussing the issue of microblog listing.

Wang Xin reports with a document collection: ”in May and June, in these two months, we do the final preparatory work, including the integration and digestion of Teng Xun's microblog industry.

At the end of June, we will file an IPO with the sec.

As for the Underwriters, six companies have been identified, including Morgan, Goldman Sachs, Citigroup, Credit Suisse and Deutsche Bank.

In July, when the SEC's application is approved, we will release detailed data to the public.

If everything goes well, we will be able to list around September.

Of course, the premise is that everything goes well, including the adoption of the plan.

In fact, the efficiency may be a little slower, but the Underwriters selected this time are all world-famous financial giants. With their help, the efficiency will be much faster.

We plan to issue 80 million ADSS this time, and several underwriters have given us a rough price range.

According to the value of 400 million shares of total equity, including the valuation after the c-round financing, and our revenue situation, the range given by several companies is not big, ranging from $35 to $40 per share.

If it can reach $40 per share, the listing plans to raise $3.2 billion.

In addition, we have given several major Underwriters the right to over subscribe 20 million ADSS. If the market conditions are good, this part of the over subscription rights should be used.

Also, in terms of the Commission, the current target is 1.5% of the financing amount, plus other expenses, and the total amount is about 50 million dollars... ”

Wang Xin said this, Yuan Chengdao frowned: ”1.5% is high, in addition, we have given the other party 20 million shares of over subscription rights, which is much more!

We have only planned to issue 80 million shares in total and give each other so many over subscription rights. It is impossible for Mr. Li alone to pass.

Up to 10 million shares, and commission, 50 million US dollars, grab money!

In fact, if it wasn't for the agreement between the big and small motorcycle companies and Mr. Li, we didn't need to find so many.

Moreover, according to the current real market, with the popularity of microblogs and their pricing range, the highest price is 40 US dollars, which is not too difficult to issue.