Chapter 1598 (1/2)
The roadshow on the 26th is mainly to accept subscription from investment institutions.
When an enterprise is listed, the shares to be sold are generally divided into two parts, the international allotment part and the public offering part.
The international placement part is actually prepared for investment institutions.
The public offering of shares is for retail investors.
This time, Teng Xun International placed 680 million shares and planned to raise 34 billion Hong Kong dollars.
Part of the 300 million shares will be sold to the public, with a plan to raise HK $15 billion.
In fact, Teng Xun did not have a high proportion of over allotment, with only 20 million shares and planned to raise HK $1 billion.
Because of the constant change of currency exchange rate, the exchange rate ratio between us dollar and Hong Kong dollar is close to 1:8. In fact, Teng Xun's financing scale is less than 6.5 billion US dollars. At the current exchange rate, it is close to 6.3 billion US dollars.
The international allotment, including the oversubscribed portion, amounted to 700 million shares, with HK $35 billion, close to US $4.4 billion.
For Teng Xun's senior executives and distant senior executives, the lowest expectation of the first day's on-site subscription fund is US $500 million, reaching US $1 billion, even if it is a complete success.
After all, the subscription period of the international allotment shares is still many days, and the oversubscription multiple generally does not include the international part, only the retail part.
Therefore, as long as the subscription funds of investment institutions reach 4.4 billion US dollars, in fact, the impact on the next listing is not too big.
The rush buying trend of retail investors is actually attracting more attention from outsiders.
……
Their executives from afar think that if they reach $1 billion on the first day, they will succeed.
However, after Li Dong made a promise on the road show, the next scene made everyone stare.
Since the investment institutions have come to the roadshow, they are already optimistic about Teng Xun.
Even if Li Dong doesn't say anything on site, the subscription amount will not be too low.
This is the thing with risk, not to mention Teng Xun risk is not big, the future can be expected.
At this time, Li Dong once again reduced the risk of investment institutions. If he does not subscribe, when will he wait?
……
When Li Dong stepped down from the stage and Liu Hong announced that he could accept the subscription and sign the letter of intent, a group of investment managers rushed to the front almost instantaneously.
These institutions have less capital than big investment banks and no bargaining capital.
While the big institutions are still considering, it is better to start first, so as to avoid the ceiling of Teng Xun's subscription amount. In the end, other large institutions will have the opportunity to let Teng Xun over allotment again. They don't have this opportunity.
Other people rushed to Liu Hong, but Liu Qin squeezed for a while, and pushed to Li Dong. He opened his mouth and said, ”Li Cough, Goldman Sachs subscribed for 200 million US dollars and Lenovo holdings subscribed for 100 million US dollars. My father didn't come this time, but he specially called me and told me to give full support to distant places and Teng Xun!
This time, on behalf of Goldman Sachs and Lenovo holdings, I have subscribed for a total of US $300 million. ”
Liu Qin was going to call Mr. Li. However, seeing Li Dong grinning at her, Mr. Li held back. However, she couldn't say uncle Li.
After she finished, Li Dong said with a smile, ”what's the use of subscribing to me? I just want to stand on the stage. You can find someone else.
What's more, Gaosheng is one of the underwriters. As long as you comply with the rules, you can subscribe as much as you like.
Why, Goldman Sachs thinks HK $50 is not high? ”
If these underwriters feel that the price is still high, they will not subscribe at this time.
The advantage of underwriters is that they have a lot of autonomy, and even in the end, they can participate.
Now, on behalf of Goldman Sachs, Liuqin has subscribed for us $200 million on the first day. Obviously, Goldman Sachs thinks that the price of HK $50 is acceptable.
Before, they were still a little worried, but Li Dong said today that once he said this, he would give some guarantee for the on-site subscription. At this time, he didn't pay attention to the time. At the end of the subscription, Li Dong didn't say that he would guarantee.
Liu Qin didn't care about his ridicule, and said with a smile, ”I'm not in the same department with them. Both sides are not related. I represent the investment department.”
There are many industries and departments in Goldman Sachs Group. The underwriting team and the investment team can be viewed separately.
However, if the underwriting team thinks that it is not good, the investment department will not waste money. Even if it wants to, the headquarters will not agree.
After listening to Liu Qin's words, Li Dong didn't take Liu Qin too seriously. He nodded with a smile and said, ”you're free, but do you represent Lenovo holdings? What, you want to go back and take over? ”
Although Liu Qin and Liu Chuanzhi are father and daughter, they represent different big enterprises.
At this time, Lenovo holdings entrusted Liu Qin to represent them. In Li Dong's opinion, it was a little profound.
Liu Qin immediately shook his head and said, ”I don't have this idea, and I don't have this idea. What's more, joint control can't talk about taking over.”
Outside, everyone thinks Liu Chuanzhi is Lenovo's boss and absolute controller.As a matter of fact, Lenovo has a large proportion of state-owned assets. In fact, it is very difficult for such enterprises to take over the second generation, and they generally choose professional managers to take over.
It's not perfunctory for Liu Qin to say so.
Li Dong didn't ask any more questions. He simply talked to Liuqin, and then began to talk with some investors.
The investment managers of small and medium-sized institutions have gone to subscribe, and large institutions can still calm down a little. Li Dong, as the host, still needs to receive them.
Moreover, this time, not only these investment banks, including some domestic private equity funds, some Xiangjiang tycoons' private equity funds, actually came a lot.
These people have a lot of cash flow on hand.
In Li Dong's opinion, Teng Xun's financing is not the only one in the distance. Next, there are still many opportunities for us to deal with each other.
……
When Li Dong was chatting with the investor, Ma Yun and they did not disturb him.
This time, they were destined to be just spectators.
However, when the scene was so hot, people still felt some emotion.
Ding Lei looked at it for a while and sighed: ”Li cannons shouldn't be called Li cannons. They have to call Li bold.”.
The global financial crisis has not been completely over yet. Where did he get this confidence?
If Ali had made such a promise in those years, he would have made a huge loss this year. ”
If Ma Yun had dared to say so, the privatization price would have to be doubled, and it would have cost billions of dollars more. Ali couldn't stand the collapse of his own.
Not only Ding Lei sighs, but also several foreign giants.
Li Dong is not so brave!
In 2009, the impact of the financial crisis in the mainland of China was not too big. However, in the international community, especially in the financial securities sector, the crisis has not been completely ended.
At this time, the stock price skyrocketed the first day and plummeted tomorrow. That's normal.
When Li Dong was on the road show, he dared to give people the bottom line. He was still such a large-scale financing plan. It has to be said that few of the people present dared to make such a commitment.
MEG stared at Li Dong in the crowd with interest for a while. Finally, Meg said hello to them and left ahead of time with his assistant and translator.
As soon as she left, Ma Huateng raised his eyebrows and said, ”this one can't be really excited, is it?”
MEG suddenly came to Xiangjiang this time, and participated in Teng Xun's promotion meeting. This was an accident. Now she seems to be very interested in Li Dong. Ma Huateng has to suspect that she has the mind to enter a job in the distance.
On the other hand, Li Yanhong whispered: ”what people see is not necessarily far away. Maybe it is micro blog? The election campaign also needs the support of the media.
Microblogging, in fact, is not weak in Europe and America.
Of course, Li Dong will not necessarily agree. ”
We all know that in foreign countries, social media, especially Chinese social media, had better not participate in politics.
If the supporters win, it's easy to say that once they fail, they will be in big trouble.
Of course, this is also an investment. Once the other party wins, it is bound to give a return.
For politicians in Europe and the United States, giving supporters rewards is an established rule, not even a hidden rule.
Once they fail to pay their bills after taking office, all the supporters will choose to betray. For so many years, few people have broken the contract with their supporters.
Li Yanhong said so, others have some thoughts.
It can be seen that the influence of micro blog may be greater than they think, otherwise, the politicians of the United States will not come to China to seek support.
However, Li Dong may have noticed that they had not thought much about it before. Now, when Li Dong digs people, he just lost the election. In fact, this has already indicated his attitude.
Regardless of whether MEG is here to seek support, Li Dong is not optimistic about her campaign and will not let Weibo get into trouble.
Now think about it. Li Dong has always had a fierce eye. Maybe MEG will fail.
We didn't say much about it. Lei Jun looked at Ma Yun and said with a smile, ”Lao Ma, how much do you think the intention fund for signing the scene today can reach?”
”More than $3 billion.”
Ma Yun is not ambiguous, gave his own anticipation directly.
Ma Huateng, on the other side, squinted and said: ”the $3 billion can't be sustained. Just now, Goldman Sachs, big and small molars have all gone straight to the battle. Besides, ICBC and BOC are all wandering around Li Dong.
In addition, some private funds in Xiangjiang and the mainland have already reached an agreement long ago, and the subscription amount will not be less than US $500 million.
Today, even if the scene doesn't meet expectations, these people will do it.
Li Dong still has a lot of people in China who trust him very much. It depends on whether these institutions will raise the subscription amount again in the distance today. ”
For IPO enterprises, it is inevitable to determine some subscribers in advance.
We can't really let the scene cool down. Even if no one pays attention to it today, there will be some people, including some tycoons and private equity funds in China.Look at the scene now, and what Li Donggang just said, these institutions should also conduct on-site subscription today.
The scene is so hot, 3 billion dollars, it's not sure it can stop.
Ma Yun was refuted and didn't care. He said with a smile: ”let's go. Teng Xun's promotion meeting is hot. In fact, it's good for us.
But even if it's a good thing, we won't be in a good mood if we stay
As soon as he said this, everyone nodded.