After Makino Motor Group made a dazzling debut with Makino Aurora, the IPO of Makino Technology in Hong Kong had reached the final stage.
Since Hungry Mike had not yet covered the whole country, Makino Motor Group had just been established, and it was not possible to accurately measure its market value. Android and Apple had not come up with any truly innovative products, Li Mu did not intend to package these companies into Makino Technology. Instead, he would first separate these two companies and use Makino Technology as the main body to list them in Hong Kong.
At present, the underwriter had given a valuation of 320 billion US dollars, which was already the highest valuation for an IPO in the world.
Although many companies had a market value of more than 500 billion US dollars at their peak, and some even broke through trillions of US dollars, this was achieved after they had been listed for a period of time, even years, or even decades.
Many large companies were still in their adolescence when they first went public. They had potential, but they were not strong enough. Therefore, when they went public, they often only got a market value of tens of billions of US dollars.
However, Makino Technology was not the same.
Makino Technology was no longer a teenager. It was now a mega company with a large market coverage and extremely high income. Although it had not reached its peak, it could be considered to be in the prime of its life.
Therefore, the valuation model of investing in children was no longer suitable for Makino Technology.
It was just like the transfer fee for a football star. A 17 or 18-year-old genius' transfer fee would only be a few million pounds at most. However, this person's value could increase tenfold in five years. However, this was something that had to be witnessed by time and the arena.
The same was true for companies. When most companies were just listed, their business had not really taken off yet. They relied on the financing from the IPO and the rising market value to support the rapid growth of the company.
However, Makino Technology had already set sail.
Therefore, the IPO valuation of tens of billions of US dollars, or even more than 300 billion US dollars, could no longer satisfy Li Mu.
In Li Mu's view, the high global coverage and high premium rate of YY Ecology were already a heaven-defying existence in this era. This alone was worth 400 billion US dollars.
Once any industry covered the world, it would get a big buff.
Alibaba's main revenue was in the Chinese market. Taobao, Tmall, and Aliyun's profits were mostly in China. That was why Alibaba had a market value of 400 to 500 billion US dollars.
Amazon had covered almost every market except for Hua Xia, and it had a market value of nearly 1 trillion US dollars. If these two companies merged, it would be a global e-commerce and cloud service platform. As long as it did not violate anti-trust laws, its market value would not be as simple as 400 to 500 billion US dollars and 1 trillion US dollars. It might be more than 2 trillion US dollars.
Facebook in Feng Yu's future is the same as Amazon. They did not manage to cover the Chinese market, but they still got a market value of 500 to 600 billion USD. Tencent's main business is in China, and it also got a market value of 400 to 500 billion USD.
The influence of these two companies combined might not even be comparable to that of the current Makino Technology, because Makino Technology's global coverage was almost monopolized.
After MSN was completely cold, Li Mu did not suppress any instant messaging software products. Because he knew that the world had become the general trend. Anyone who jumped out to compete with Makino Technology could only be in vain. He did not have to do anything, and he would drag himself to death.
Therefore, in Li Mu's view, the current market value of 320 billion US dollars for Makino Technology was still slightly low overall.
What's more, Makino Technology was also a shareholder of Google and Baidu. The two companies together had a market value of tens of billions of US dollars.
Moreover, Makino Image's recent "Flying Tigers" did achieve a global box office result. Although a movie did not mean that the future of Makino Image would be smooth, at least it was a very strong supplement.
Therefore, Li Mu's ideal market value must at least exceed the line of 450 billion US dollars.
As for how much the stock of Makino Technology would skyrocket after the listing, that was another matter.
In view of this, Li Mu met with the representative of the brokerage firm again.
At the meeting, Li Mu proposed an IPO valuation of 450 billion US dollars.
The valuation was 450 billion US dollars. All shareholders would dilute 10% of their shares in equal proportions for the issuance of shares. A total of 1 billion shares would be issued with a share price of 45 US dollars.
Of the 45 billion US dollars raised, 35 billion US dollars would be used to enhance the current investment of Makino Technology, including research and development, market, cloud computing, and new business attempts.
The remaining 10 billion US dollars would be sold by shareholders in equal proportions.
Everyone had been guarding Makino Technology for a long time, and it was time to get a big sum of money.
Ten billion US dollars was divided. Even a person with only a little bit of shares could get 100 million US dollars.
Of course, the price was that his 1% shares had to be diluted by 0.1%, leaving 0.9% after dilution.
If it was a senior executive with only 0.1% shares, he could get 10 million US dollars even if he diluted 0.01%.
This was the benefit of following the right big boss.
If they followed the right big boss, they could seize a wave of IPO every two or three years, and they could achieve financial freedom with a few tenths of a share.
If they followed the wrong big boss, they could not even afford a house after 20 or 30 years of business.
As for the remaining shares in the hands of shareholders, they would be locked by the agreement. In the next two years, they could not reduce their shares in the secondary market, nor could they pledge their shares in the primary market.
In other words, even if after Makino Technology went public, Li Mu still had more than 70% of the shares in his hands, he could not sell these shares in the secondary market. He could not buy or sell them, nor could he pledge them in the primary market.
If the major shareholders did not sell their shares, it would give investors more confidence.
If the major shareholders tried everything to sell their shares in the secondary market right after the listing, the stock price would inevitably collapse.
If the major shareholders pledged their shares to the brokerage firm right after the listing and cashed out their shares to enjoy themselves, the stock price would not be able to maintain.
The major shareholders were like the garrison general of a city. They had to always give the soldiers and the people the belief that "as long as the people are alive, the city is alive". Only then could everyone fight the enemy bravely with the general.
Several state-owned brokerage firms were somewhat afraid of the valuation of 450 billion US dollars.
First, the price was too high.
Second, the risk was really high.
Third, there had never been such a large-scale IPO.
When Ali went public, the IPO scale of more than 200 billion US dollars was already a record. Now that Makino Technology directly opened the IPO at 450 billion US dollars, the tone was set too high.
If the brokerage firms wanted to hold such a large-scale IPO, they must first be able to help Makino Technology raise 45 billion US dollars. If they could not raise the funds, it would be pure nonsense.
However, Li Mu said to them, "Everyone, once you take over the IPO of Makino Technology with a scale of 450 billion US dollars, I believe there will be a large number of customers looking for you to subscribe to Makino Technology's shares. You might think that the scale of 45 billion US dollars is a lot, but the market's reaction will definitely make you realize that this is a very easy task."
The person in charge of the lead underwriter was a little unconfident. He said, "Li Zong, I've been doing IPOs for several years. The scale of your company's IPO is higher than the scale of the companies I've been doing for the past two years combined. How can I not be nervous?"
Li Mu smiled and said, "This is a good thing. I finally have a chance to do something big. It's much better than doing an IPO for dozens of companies with a market value of hundreds of millions of US dollars and two to three billion HK dollars every year."
After pausing for a while, Li Mu continued, "To be honest, the larger the scale of the IPO, the more stable the performance after the listing. Those small companies that relied on concepts and popularity to climb to the top may have their share prices skyrocket by 50% today, but they may drop by 90% tomorrow!"
"There are many companies that clearly go public to make money, but there are still underwriters who will help them with the IPO. If you miss such a big event like Makino Technology's IPO, you may not have the opportunity to participate in such a big project in the next 20 years."
The other party nodded gently and said, "That's true, but this price is really too much pressure for us …"
Li Mu smiled and said, "The Goldberg family behind HSBC has been rushing to take over the IPO of Makino Technology. I've already withdrawn the IPO from the US stock market, but they are still unwilling to give up. The person in charge of their family is still living in a hotel in Yanjing. It has been more than half a year. He wants to see me, but I won't see him. There are two reasons. First, the things they did with those people on Wall Street really disgusted me. Second, I deliberately left him hanging until the day he accepts whatever I say."
Speaking of this, Li Mu added, "By the way, this brother has always been respectful to me. He even gave me a club in the English Premier League. I'm not going to give him nothing in the IPO of Makino Technology, so I'm temporarily thinking of giving him 10 billion US dollars of the IPO funds. If you think that 35 billion US dollars is still a little difficult for you to raise, we can talk again. I believe that even if I give 45 billion US dollars to the Goldberg family, they will not hesitate to agree."
After Li Mu finished speaking, he looked at everyone and said seriously, "However, I want to tell you the truth. The reason why I withdrew Makino Technology from the US stock market is that I don't want these Wall Street bosses to enjoy this capital feast."
"So, I want to put it in Hong Kong. In any case, Hong Kong is an inseparable part of Hua Xia. If Makino Technology is listed in Hong Kong, it can be considered as keeping the goodies within the family."
"But if everyone thinks that this piece of meat is too big to eat, can't eat it, and can't digest it, then I can only put this piece of meat in Hong Kong and let those Wall Street tycoons cross the border to eat it."
"If that's the case, there will be no loss for Makino Technology. I will still sacrifice 10% of the shares to raise 45 billion US dollars of funds. The only difference is who will help me raise the money. However, for everyone here, this loss will be very big. Once you let the market see that you can't swallow a big piece of meat, even if you can't swallow a big piece of meat in your own home, then even if companies come to Hong Kong for an IPO in the future, they will not look for you as the lead underwriter. It is likely that they will choose a brokerage with a British background or an American background. At that time, everyone will instantly fall into a passive position!"
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