May 11th, Monday.
9.30 am, Hong Kong stock market opens!
Tencent's opening price is 31.2 HKD.
When the market opens, the drop exceeded everyone's expectations.
Far Away Mall announced that more than 100 million PC users had uninstalled Tencent's products. Tencent's biggest source of confidence, QQ, had fallen below 10 million PC users.
Many investors were crying and waiting for someone to take over their shares. They were waiting for someone to rescue them.
Tencent also responded to the investors.
Based on Ma Huateng's words, no matter how much the share price falls, some things are still there.
10% of Far Away Mall's shares and CF's one year dealership. According to Li Dong, these two items are worth more than 10 billion RMB!
Tencent's fixed assets, patented technologies, and brand … …
Even if Tencent had nothing now, it should still be worth 20 billion HKD!
In fact, it was worth more than this. Unless Tencent decided to stop operating. As long as it continues operating, it will still be able to beat some second-tier and third-tier companies.
No matter how much the market value falls, it should not fall below 30 billion HKD.
Tencent was very direct this time. With 1.7 billion shares, if the share price falls below 20 HKD, it means someone is manipulating the market. In fact, it should not even fall below 30 HKD.
Of course, 30 HKD means Tencent's market value is still above 50 billion HKD. It is hard to say if anyone agrees with this.
But no matter what, the panicking investors calmed down a little.
No matter how much the share price falls, it will not fall below 20 HKD. This is what Tencent said. Although Tencent's credibility is being questioned, Li Dong's products should be trusted.
Unless Li Dong slaps his own face and says that his products are worthless.
If he really did that, Li Dong would be the one to suffer a greater loss in the end!
Once he says that Far Away Mall and CF are worthless, what will happen to the investors in the future? What if they get listed?
Although bigwigs could sometimes spout nonsense, it didn't mean that they could spout nonsense repeatedly.
Besides, other than the products Far away, Tencent's own products were still there. As long as the compatibility was restored, not all the users would come back, but some would definitely come back.
At that time, Tencent might have lost his dominant position, but he would still be a giant among second-tier IT companies.
Even Focus Media, Ctrip, NetEase, and other internet companies are worth a few billion USD. Tencent might not be doing instant messaging, but with their foundation, they can focus on gaming platforms or other businesses.
He did not dare to say that the previous market value of 20 billion USD was not worth 5 billion USD?
That's why Tencent said that the price would not fall below 20 HKD. This was something that the industry agreed with. Some institutions even offered a buying price of 30 HKD.
As long as the secondary market share price falls below 30 HKD, it will be worth buying.
Next, regardless of whether the Tencent regrouped and fought their way back to the frontline or chose to withdraw from the field of instant messaging and fight in other fields, they would not suffer any losses.
Alternatively, Tencent could choose to suspend trading and restructure. Anyway, a starving camel is still bigger than a horse.
Unlike Ali, which had fallen below the IPO price, this was not possible for Tencent.
Ali's listing price was a bit high. Their total share capital was much higher than Tencent, and their starting share price was 13.5 HKD. Based on the IPO price, the market value was about 9 billion USD.
That's why Ali could fall below the IPO price, but Tencent would not.
A few days ago, it was for marketing purposes. Far away and a large number of experts hoped that investors would panic and need to suppress Tencent. That was why they said that Tencent would be delisted at the IPO price. In fact, this was not possible.
After these analyses, although Tencent's share price was still falling, it started to stabilize when it fell to around 28 HKD.
Some financial institutions had entered the market!
Pursuing profits was the instinct of financial institutions. Although Tencent's situation was difficult, and they might lose their hope of fighting their way back to the frontline, the current share price was still bearable.
Also, these institutions were well-informed. Hua Xia's government had started to intervene.
On Monday, the person-in-charge of Far away, Tencent, Baidu, and a few others were interviewed.
Although the internet was a virtual world, it did not mean that they could do whatever they wanted. The battles on Saturday and Sunday had seriously affected the interests of countless netizens.
On Sunday, some departments had started to mediate, but Far Away was delaying for time. One day was still bearable for them.
On Monday, the leaders of some departments in the Ministry of Industry and Information Technology called Li Dong personally. Their tone was more strict.
Under these circumstances, if Far Away did not want to offend these departments, they would have to restore their compatibility within three days. This was to prevent them from being forced to do so and lose face.
Three days, including the previous three days, would be six days. Although Tencent would definitely suffer heavy losses, six days was not enough for Tencent to die completely.
These situations were obvious, and financial institutions were not stupid. If they did not enter the market now, when would they enter the market? If they waited any longer, Far Away might have to enter the market.
Of course, Far Away was restricted from entering the market.
The other party used special methods to suppress the other party in the business field, and at the same time, they entered the market at a low price. It was inevitable that they were manipulating the stock price.
Far Away would be at a disadvantage if they were to compete.
At this time, the probability of Li Dong entering the market was not high, especially on a large scale. It was not a big problem for him to play with a small amount of funds.
In fact, for Li Dong and the others, making a small amount of money in the stock market was not very meaningful.
Getting Tencent was more cost-effective than making a small amount of money in the stock market.
…
Far Away.
Yuan Chengdao and the others gathered together, and Liu Hong reported, "MIH has made an offer, and they have guessed our and Tencent's next choice.
In fact, this could not be hidden from MIH. After all, they are the largest shareholder.
MIH wants to redeem ABSA's shares, and they hold a total of 44.5% of Tencent's shares.
They want to keep these shares until our restructuring plan is completed and diluted.
Of course, they will still be the same as before. They will only receive dividends and not participate in the operation. Far Away will have the management rights and voting rights.
This condition is actually not unacceptable … "
Liu Hong looked at Li Dong as he spoke. He knew what Li Dong was thinking, but this offer was not too harsh.
Also, Far Away would need money to buy back their shares!
Based on the current market price, it would be 30 HKD per share, and the other party would hold 44.5% of the shares. The market value would be more than 22 billion HKD.
Since MIH knew Far Away's intentions, the possibility of them lowering the price was very low.
Far Away's ruthless attitude previously made MIH panic. Now that Far Away had shown the intention to acquire and restructure, the situation was completely different.
Of course, the capital institutions did not want to have a bad relationship with the management team as it would not benefit them.
Yahoo and Ali were at loggerheads, and both sides were suffering losses.
MIH gave up the management rights and voting rights, and only wanted to keep their original interests. They also hoped that Li Dong could create more wealth for them. In fact, they did not want to have a conflict with Far Away.
Generally speaking, the acquiring company would be happy if the original major shareholder was so decisive.
But it was hard to say for Li Dong.
Liu Hong continued. "Also, since we are going to acquire Tencent to restructure and even get listed, then the financing plan …"
Li Dong frowned. "Of course! Without financing, where will we get the money? Without money, how are we going to acquire Tencent? Do you really think that Ma Huateng is giving it to us for free? "
Liu Hong coughed and said. "Actually, what I mean is to acquire Tencent first. This way, we will get all the profits from the war. After that, we will introduce capital and carry out the restructuring plan. This way, we can maximize the profits. "
Once the financing was completed and the acquisition of Tencent was used, the profits would be divided with the financing company.
Before that, the financing plan could be delayed after the acquisition of Tencent. Of course, at that time, it would not be called financing, but asset restructuring.
As for why these institutions were needed for the restructuring, the key was the problem of money.
It was impossible to acquire Tencent without spending money. Far Away had no money, and it was not a good thing to borrow money, especially now.
Introducing capital institutions, letting PP borrow some money first, and then using the financing money to repay. In this way, it was equivalent to using their money to monopolize Tencent's dividends.
And the capital institutions would not be unhappy. After all, after the restructuring, there would definitely be money to be made. Everyone would benefit, and no one would lose. There was no reason not to agree. It was nothing more than making more or less.
Tencent's restructuring and listing still needed the support of some institutions.
Especially this time, once Tencent was backdoor, it could only choose to go public in Hong Kong.
With the scale of PP and Tencent's restructuring, the listing and financing scale would not be too small. Without the support of these capital institutions, it was not enough to rely on scattered shareholders.
The listing of a company was a feast for the capital parties and the management parties.
It was impossible to abandon one party and enjoy it alone.
Li Dong tapped the table gently and said after a while, "Tencent's current total share capital is 1.7 billion shares. After our restructuring, I will first make a budget and plan to increase the share capital by 3.3 billion shares, a total of 5 billion shares. MIH holds 750 million shares of 1.7 billion shares. If the total share capital is 5 billion shares, the other party still holds 15% of the diluted shares, which is a bit high. "
Even if PP won this time, it would not be able to exceed Tencent's share capital in the end. Of course, there was still hope if PP fought for it Far Away.
Tencent at this moment was different from a few days ago.
The final listed total share capital was 5 billion shares, and MIH held 15% of the shares. Li Dong was not very happy.
Liu Hong heard this and said, "Then we can talk again. We will buy a part of the shares and settle it in cash.
The other part will be maintained at around 10%. What do you think?
It will be difficult for MIH to agree if it is any less.
Of course, we can negotiate on the purchase price and even use our advantage during the restructuring process to continue to expand PP's share.
You said 5 billion shares. Is there no hope for 5.5 billion shares?
I think there is still hope. Even 6 billion shares, as long as Tencent's total share capital remains unchanged, there is still hope … "
As he was speaking, Tan Haiying suddenly said, "Actually, we can talk about buying back the mall's shares!"
"Cough, cough, cough!"
Everyone coughed. Damn it, were the people from afar so greedy now?
Buying back the mall's shares now?
Furthermore, the cooperation between the mall and Tencent was still necessary. Once Tencent returned to the market, they could not possibly help Far Away Mall open a port for free, right?
Also, buying back the shares would cost money!
Even if Tencent agreed, Far Away would have to consider if it was worth it.
Li Dong was not the one who said that the mall was worth whatever it was. Tencent had paid a high price in the beginning, and after Tencent's restructuring, even PP was included in Tencent's assets. If they bought back the mall's shares now, Tencent would have to pay a large sum of money for the cooperation later.
Li Dong had always been a loner. Although he said that he wanted to share, in fact, he wanted everything to be his own.
But at this time, even Li Dong could not help but cough and said, "There is no need to buy back the mall's shares. Furthermore, Tencent still owes us 2 billion in cash. In fact, we are the ones making a profit.
Next, the 2 billion in cash will play a big role.
Using the 2 billion in cash, it is not a problem to exchange for a portion of Tencent's shares.
We will hold a portion in our hands and weaken the strength of the original Tencent system. In addition to the dilution after the restructuring, this way, the original Tencent system's share capital will be reduced to less than 1 billion shares, which is more in line with our expectations.
The total share capital will be 5 billion shares. Tencent system's share capital will be 1 billion shares. Later, some institutions will be introduced to hold 500 million shares. In addition to the original share capital in the secondary market and our subsequent issuance, it will be about 1 billion shares.
This way, we will hold half of the shares in our hands, which is more in line with my expectations. "
Li Dong calculated the shareholding ratio of Far Away Mall after the listing.
For someone like him who was used to controlling shares, having less than half of the shares would not feel comfortable.
As for Weibo, after the dilution, it had dropped to 50%. Li Dong actually felt that it was not very reliable and suspected that it would become someone else's one day.
Weibo was still fine. Tencent and PP related industries added together were much larger than Weibo. Li Dong would not be satisfied if he did not control it.
Hearing Li Dong's words, Liu Hong thought for a moment and said, "If we keep it at around 50%, I don't think it will be too difficult. We can talk to MIH and Tencent's operations team first. Once the general direction is agreed, we will choose to suspend the restructuring. As for the price of the stock market, it will not affect us much at the moment. The main thing is to prevent MIH from continuing to buy in and prevent them from holding too much shares. In fact, they will not choose to enter the market at this time. After all, we have not given them any specific information. Anything is possible. "
Li Dong nodded and said, "That's it. Actually, I was going to talk to Ma Huateng's team. But after thinking about it, MIH cannot avoid it.
Then let's talk openly. There is no need to hide it.
At present, only Distance's acquisition of the other party would maximize their benefits. Everyone could see this clearly.
As long as both sides do not suffer too much, the merger and restructuring is almost inevitable. Overall, we still have the initiative.
Let the airline company prepare. We will go to Shenzhen early tomorrow morning and start the negotiations.
We don't have to finish tomorrow. It will end on Wednesday the day after tomorrow.
If it doesn't end soon, I can't handle it anymore. Old Man Zhang almost scolded me on the phone this morning … "
Li Dong shook his head helplessly.
Everyone laughed. The Old Man Zhang that he mentioned was the leader of the Ministry of Industry and Information Technology. Only Li Dong would call him Old Man Zhang in this situation.
However, Old Man Zhang was good to Far away. He was also good to Li Dong. Previously, Old Man Zhang did a lot of work for the Million Card license. When the balance of the account appeared, Old Man Zhang was also the one who rushed around.
It was not because of their personal relationship or other transactions.
That Old Man Zhang was more headstrong. During this period of time when he was leading the Ministry of Industry and Information Technology, he hoped that the internet industry could achieve a breakthrough. Some of Li Dong's ideas were more to his liking.
If not for this, Distance and Tencent, as the initiators, would not have been able to avoid suffering the consequences of the war between so many Internet companies that had triggered a large-scale heated discussion among netizens.
Now that they were still in a state of mediation, it was the Ministry of Industry and Information Technology that was contributing.
Li Dong could speak, but the others could not. Liu Hong nodded and said, "I will make the arrangements later. It will end in the early morning of the 13th. It will take four days. It is still within an acceptable range."
"That's it then. Get ready. I'm afraid we will meet a lot of people when we go there this time. Ma Yun, Zhou Hongyi, Li Yanhong, Cao Guowei … These guys may all go there. Get your spirits up and fight whoever you see! If they want to snatch food from me, Li Dong, they have to be as thick as an arm first! "
Li Dong said it domineeringly, but the others were on their guard.
By now, everyone understood that whether Tencent would continue to persevere or sell their assets or make other choices was a good opportunity to fight for dividends.
A large number of Tencent's executives and top technical talents were probably at a loss at this time.
If they spent some money, they might get a share of the dividends.
As for Far Away, what they needed to do now was to protect the majority and prevent these people from dividing up too much.
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