Longhua, Weibo, and Tencent were preparing for their IPO.
In the first five years, none of Li Dong's businesses were listed. In fact, he did not even have the intention to be listed.
After five years, it was finally time to reap the rewards.
Although Longhua was not considered Far away's business, Li Dong currently held 20% of the shares. This was a relatively high percentage.
Just as Li Dong was giving himself a break, Far away had made some adjustments.
Tencent's businesses, including some technology patents, were acquired by Li Dong with 2 billion in cash. Tencent Weibo would definitely merge these businesses into Far away's Weibo system. Far Away also chose to share the other technologies and patents with Weibo.
The 10% shares in the mall were not considered as financing. It was Li Dong's personal sale of shares.
Hence, this money did not need to be shared with others.
This time, Weibo also made some changes to its shares. According to the method of capital increase, Weibo issued an additional 20 million shares.
Weibo's original share capital of 300 million shares had now expanded to 320 million shares.
As for Li Dong's personal share capital, it had expanded from 140 million shares to 120 million shares.
The other 4 million shares were distributed to employees as a reward on the eve of the IPO.
The last share reward was last year.
This year, Weibo had expanded rapidly. There were many more employees, including some foreign executives. The 4 million shares as a reward was accepted by all the major organizations.
So far, Li Dong's personal share capital had expanded from 34.67% to 37.5%.
As for Weibo and Far away's senior management, their share capital had increased from 10 million shares to 14 million shares. The proportion had increased to 4.375%.
Far Away's controlling stake, Li Dong and the senior management held a total of nearly 42% of the shares.
In fact, according to the valuation after the Series C financing, Weibo was valued at 25 USD per share. 20 million shares was worth 500 million USD.
Excluding the 4 million shares, Li Dong's 16 million shares had a value of 400 million USD, which was much more than Tencent Weibo.
Although Tencent Weibo was acquired by Li Dong with 2 billion RMB, there were many technologies and patents attached to it.
However, Distance had also shared the technology and patents that Tencent had exchanged with Weibo.
On the eve of Weibo's IPO, major shareholders and managers also had the right and obligation to make some adjustments to the equity structure.
Li Dong did not choose to buy back the shares in the hands of other institutions. Instead, he chose to increase the capital and increase the shares. A little difference in value was acceptable to everyone.
Moreover, Tencent Weibo alone might not have a high value.
But Tencent Weibo also had a group of loyal fans, including some technical research. It also had a complementary effect to.
As long as it was not too much, the expansion after Weibo Weibo Weibo had.
In, Weibo's, Weibo had, Weibo, Liu, Weibo's IPO, and, Weibo, Wu, Liu, Away.
Before Weibo's IPO, Weibo's equity structure had been finalized.
The total share capital was 320 million shares. Li Dong held 120 million shares, Far Away, Weibo's management and employees held 14 million shares, state-owned financial institutions held 39 million shares, Baidu held 10 million shares, and private funds such as Victoria Fund and other small and medium-sized domestic investment institutions held 7 million shares.
In other words, Distance and the national investors, including the domestic capital, accounted for a total of 190 million shares of capital.
IDG, Sequoia, Goldman Sachs, Small and Small Motorcycles … these foreign institutions held 130 million shares.
…
Just as Longhua was officially preparing for its IPO, Far Away was also preparing for Weibo's IPO.
Compared to Tencent, Tencent was just resuming trading in Hong Kong, which was much simpler.
This was why many companies chose to go public through a backdoor listing. The key was that the time was short, the process was not complicated, and the approval was easy.
Weibo, on the other hand, had attracted too many foreign institutions. Moreover, Weibo was a global social platform. If it was listed in China, it would not be in the interest of some countries.
Because of this, Weibo had decided to go public on NASDAQ.
In fact, if it had not defeated Tencent, and Tencent was a perfect shell, it might have chosen to go public on NASDAQ.
Of course, with Tencent as the foundation, it would be a pity to give up on Tencent.
Moreover, instant messaging software such as PP was mainly popular in China. Overseas, it had long been occupied by giants such as MSN. In fact, the instant messaging system was still dominated by Hua Xia.
PP's listing in Hong Kong did not meet many objections. If Weibo also chose to go public, there would definitely be many objections.
Moreover, the Hong Kong market was not big. It was enough to support one Tencent. It would be extremely difficult to nurture a second Weibo with a market value of tens of billions of US dollars.
Only the Nasdaq would bring more benefits to people.
…
Far away.
Li Dong really did not come to the company these days. His wedding date was approaching and he had no time to decorate the new house. These days, he was accompanying Shen Qian everywhere.
Far away, Yuan Chengdao and others did not want to find Li Dong before there was a big change.
At this time, calling Li Dong when something happened proved their incompetence.
Not long ago, the board of directors had just been adjusted, and the power of Yuan Chengdao and several executive directors had been greatly increased. This was the time to consolidate their power. It was best that Li Dong was not there.
In fact, Li Dong had set the layout of the board of directors the day before he left the company. Perhaps it was because of this that he deliberately gave them space to play.
…
In the conference room.
Yuan Chengdao held the first official board meeting without Li Dong in the company.
This time, Sun Tao and Wang Yue did not come back, but Liu Hong came back.
CE0 Wang Xin of Weibo also attended the board meeting.
This time, they discussed the issue of Weibo going public.
Wang Xin reported with a document in his hand, "In May and June, we will do the final preparations, including integrating and digesting the Tencent Weibo industry.
At the end of June, we will submit an IPO application to the SEC.
As for the underwriters, we have confirmed six: Siemens, Goldman Sachs, Citigroup, Credit Suisse, and Deutsche Bank.
In July, after the SEC application is approved, we will release the detailed data.
If everything goes well, we hope to go public around September.
Of course, the premise is that everything goes well, including the plan being approved.
In fact, the efficiency may be a little slower. However, the underwriters selected this time are world-renowned financial giants. With their help, the efficiency will be much higher.
This time, we plan to issue 80 million American depositary shares. Several underwriters have given us a rough price range.
According to the value of the total share capital of 400 million shares, including the valuation after the Series C financing, and our revenue, the range given by several underwriters is not big, 35 to 40 dollars per share.
If we can reach 40 dollars per share, this listing is planned to raise 3.2 billion dollars.
In addition, we have given several major underwriters the right to over-subscribe 20 million American depositary shares. If the market is good, this part of the over-subscription rights should be used.
Also, the commission is currently set at 1.5% of the financing amount. Including other expenses, it will be about 50 million dollars in total … "
When Wang Xin said this, Yuan Chengdao frowned and said, "1.5% is too high. In addition, we have given the other party the right to over-subscribe 20 million shares. This is too much!
We plan to issue a total of 80 million shares. Giving the other party so much over-subscription rights will not be enough to pass General Manager Li.
At most 10 million shares, and the commission is 50 million dollars. This is daylight robbery!
In fact, if it were not for the agreement reached between the Big, Small, and Molly families with General Manager Li, we would not need to find so many underwriters.
Also, according to the current real market, with the popularity of Weibo and their pricing range, the highest price is 40 dollars. It is not too difficult to issue the shares.
The cost of this IPO is up to 40 million dollars. This is the limit. You can talk about it later.
Also, as for the shareholders, we cannot increase the share capital too much. If we include the over-subscription, the new share capital will reach 90 million shares.
If the total share capital is 410 million shares, General Manager Li's shares will be diluted to less than 30%, which is not in line with General Manager Li's expectations.
As for the major shareholders, they need to contribute at least 10 million shares. With an increase of 70 million shares, the total will be 400 million shares. General Manager Li can only maintain 30% of the shares after the listing.
This is also under the condition that General Manager Li did not reduce his shares before the listing. Therefore, it can only be less than that.
That is the plan for the time being. Make a detailed plan for me later.
In addition, the highest price for the issuance is 40 dollars. In fact, this is not in line with the current status of Weibo.
However, the specific issuance price will depend on the situation. We will know the situation during the roadshow.
If the over-subscription reaches the expectations, we will adjust it temporarily.
Also, this listing will be a global distribution. After the SEC approves it, we will arrange the time and venue for the roadshow. I will ask General Manager Li about his schedule. "
Weibo's roadshow must be attended by Li Dong.
With Li Dong around, he will be the biggest asset.
If Li Dong does not attend, no one else will be able to meet the expectations.
400 million shares, 3.2 billion USD raised. The market value of the offering is as high as 16 billion USD. This is also the world's largest IPO.
Before this, Google raised 1.9 billion USD in 2003, and Ali raised 1.7 billion USD in 2007. Both are not as high as Weibo.
Of course, the timing is different. It is 2009 now, and they still have to consider the inflation factor.
Also, Weibo's share capital is quite high. Although there are only 80 million shares including the over-allotment, it accounts for 20% of the company's total share capital.
However, Weibo has not been listed yet, and no one knows the exact situation. If the market is good, Weibo's share capital will definitely be split.
It is normal for them to split it into five or ten shares. After all, 80 million shares is too little, and it is not suitable for individual investors to enter the market.
Yuan Chengdao suddenly said, "Back then, when Baidu was listed, its closing price increased by 350%. At its peak, it even increased by 450%!
The offering price was 27 USD, and it closed above 122 USD!
In terms of fame, popularity, and influence, Weibo is not inferior to Baidu. In fact, it is even more famous internationally.
Of course, our base is also big, so the increase might not be as high. However, a 100% increase is a must!
This would depend on how the preparations and publicity went.
Once it reaches 100% and closes at 80 USD, everyone should know what that means.
It means that Weibo's market value will exceed 30 billion USD. Everyone here, including me, owns about 500,000 shares of Weibo.
If our expectations are met, the value of Weibo's shares alone will exceed 40 million USD.
Also, Tencent will continue to grow at a high speed!
This year is not only a bumper harvest for Far away, but it is also a bumper harvest for us.
Regardless of whether it is for the company or yourselves, I hope all of you can put in 1,000% of your efforts!
Perhaps, as General Manager Li said, Far away will create countless billionaires this year. It is highly possible that there will be billionaires. "
If Weibo's market value reaches 30 billion USD, and they do not sell their shares in advance, Weibo will bring them hundreds of millions of RMB in income.
Furthermore, there is still a reward plan that has not been announced yet.
Far away's executives will also reap the rewards this year. Those executives who can survive until this year will all be rich.
When they said this, many people thought of a few people.
Qin Hai and Zhou Haidong!
These two people were previously members of the board of directors. When Weibo's shares were allotted, half of the shares were allotted to them.
Out of the 10 million shares allotted, each of them received about 500,000 shares.
The remaining 5 million shares were then distributed. In the end, there were very few shares in the hands of the employees.
At the beginning of 2009, these two people left one after another, and Weibo's shares were handed over to the company.
If they did not leave at that time, after the Series C financing, the members of the board of directors would have almost reached the level of billionaires.
It was only a short half a year. At this moment, many people felt that it was a pity.
Although it was a pity, no one said anything. Now that the shares that the two people handed over were almost all distributed, saying these words would offend them.
Kong Xiangyu of the logistics group, the newly appointed Liu Hongmei, these people had vested interests. If they felt sorry for Qin Hai, they would offend these powerful people.
…
On the 23rd of May, Far away announced plans to go public in the United States. Far away began to prepare for Weibo's IPO.
In an instant, there was a lot of discussion on the Internet and in real life.
Far away had only announced the plan, and no IPO application had been submitted. However, many people understood that it should not be difficult.
Far away was different from Ali in his previous life. In his previous life, Ali's road to going public was full of twists and turns. That was because Ma Yun's partnership system did not pass several reviews. That was why it was so troublesome.
If he could not get control of the group, Ma Yun would rather not go public. This was also one of the reasons why going public was full of twists and turns.
Weibo was not so troublesome. Far away Holdings currently owned more than 40% of the company's shares. Also, Far away Technology was not going public as a whole, but Weibo alone. It would be much simpler to review the financial reports.
As long as there were no major problems with Weibo, it should not be a problem to go public.
Far away did not announce the approximate value of Weibo, but there was some news on the Internet. Weibo's IPO price should be around 40 USD.
The initial market value of Weibo would be more than 20 billion USD.
Among the internet companies in China, Tencent had collapsed. Ali was delisted, and Baidu was the leader among the other giants.
Baidu's market value fell below 20 billion USD last year, and even fell towards 10 billion USD.
Fortunately, the share price recovered later. In 2009, Baidu started developing the Phoenix Nest system. Currently, Baidu's share price had risen to around 240 USD, and its market value was approaching the 25 billion USD mark.
In other words, Far away, once Weibo went public, it would be very likely to surpass Baidu and become the most valuable internet company in Hua Xia!
As for whether Weibo or Tencent would be faster, it was hard to say.
However, no matter which was faster, Tencent and Weibo would both surpass Baidu and become the most valuable internet company. They might even take the first and second places.
When the onlookers saw this scene, many of them lamented in their hearts, "Who would have thought, who would have thought that Brother Cannon would become the leader of the IT industry in the end. Two years ago, it was South Horse and North Lee. In 2007, Ali suddenly rose and became two horses and one Lee. Now, one of the horses is dead, and it's hard to say what will happen to the remaining horse. Who knows, it might be North and South Lee in the future. "
"North and South Lee? With Brother Pao around, the name North Lee can be removed. Brother Pao spent three years to get rid of all the IT giants. Who can compete with him! "
"That's true. Do you think Brother Pao's internet industry will be worth 100 billion USD in the future?"
"Brother Pao's money is really just a number now. Let's not care about how much money he has. The key is that Far away's executives and employees are going to be rich! I regret it so much now. Far away wanted me to go two years ago, but I didn't go. Now, I can't go even if I wanted to. Otherwise, if I had gone two years ago, wouldn't I be a billionaire now? "
The moment this person said that, many people worshipped him. Following that, someone asked what he did for a job and if he was a big shot.
After a long fuss, they finally found out that he was applying for a job as a cafeteria chef. Immediately, there was booing.
Despite the booing, Li Dong's position as the leader of the IT industry three years later was recognized by everyone.
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