Chapter 305 Summit Media is listed
After several months of IPO process, on July 5, Summit Media officially landed on the AIM market of the London Stock Exchange.
As the chairman of Summit Media Company, Barron has also returned to London and participated in the bell ringing ceremony that day.
In the end, Summit Media Company determined to set the issue price at the upper end of the adjusted issue price range of 13.5 pounds to 15 pounds - 15 pounds.
It is worth mentioning that the recent popularity of "Strictly Come Dancing" on SDTV, the variety show with the highest ratings in the UK in the first half of the year, has made investors very optimistic about the prospects of Summit Media, and its stocks have Subscription was extremely active and played a considerable role in determining the final issue price of the stock at £15.
Summit Media, whose stock code is SMC, will publicly issue 25 million shares, all of which are newly issued shares, and there will be no sales shares from the original shareholders.
Based on this calculation, Summit Media’s listing will raise 375 million pounds, and its market value has reached 1.875 billion pounds.
On the first day of listing on the AIM market of the London Stock Exchange, Summit Media opened at a price of 16.35 pounds after a call auction. During the entire morning's trading, its stock price once reached a high price of 25.78 pounds.
Finally, when the market closed in the afternoon, the price was fixed at 23.25 pounds, an increase of 55% compared to the issue price!
Based on this issue price, the market value of Summit Media at this time has reached 2.9 billion pounds, which is close to the market value of ITV.
The 90 million shares held by DS Holdings, accounting for 72%, are already worth nearly 2.1 billion pounds!
At this time, Summit Media has raised 375 million pounds in funding through its IPO.
Soon, they made an announcement and purchased the five-year British local broadcast rights of the F1 event from the F1 Group for 35 million pounds, an average of 7 million pounds per year.
At the beginning, ITV’s offer for the broadcast rights of F1 events was 25 million pounds for 5 years. However, Summit Media later raised the offer to 30 million pounds for 5 years.
Faced with Summit Media who suddenly jumped out to compete, ITV also raised its offer again, preparing to purchase the F1 broadcast rights at £6.5 million per year, or £32.5 million for five years...
In the end, Summit Media made the final decision and won the five-year rights to broadcast F1 events for 35 million pounds.
Next, SDTV will soon launch the SD sports paid channel. In addition to broadcasting F1 events, they are also currently negotiating with the Football Association to prepare to win all low-level football leagues in England except the Premier League. , the three-year price is expected to exceed 100 million pounds...
This is one of the reasons why they will conduct this IPO for financing.
According to the investigation and analysis of relevant organizations, in the UK, the number of paid users attracted by lower-level leagues under the Premier League is higher than that of La Liga. Therefore, Summit Media finally gave up the broadcast rights of La Liga. The competition is mainly to compete for the broadcast rights of the lower-level British leagues.
Most of the remaining funds from this financing will also be used to purchase other content for the SD sports channel.
At present, SD Sports is not able to compete with Sky TV for the broadcast rights of the Premier League - this is the biggest killer of paid sports channels. However, as they slowly accumulate funds, there will always be a time when they will participate in competition for broadcast rights at this level.
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Earlier, the Kolo delegation had completed visits to the European Union, the United States, Russia, China and other countries and returned to the capital Loti.
It can be said that these visits have some results, more or less.
For example, during the visit to the EU, the Colo delegation, with the support of Britain, obtained partial debt relief from the EU.
So far, Kolo has received a total of 550 million euros in debt relief from countries and organizations including Paris Club members, the European Union, the World Bank, and the African Development Bank.
And it received a total of 200 million pounds in loan assistance from the British government and the International Monetary Fund. The annual interest rate of the loan is only 0.5%, and the repayment period is ten years.
During the visit to China, representatives of the West African Ports Group who accompanied the delegation signed a contract with port construction and equipment suppliers represented by China State Construction Engineering Corporation for the construction of Loti Port with a total value of 500 million pounds. As for the expansion project, China Construction Group will build two new terminals for Loti Port in the next five years and expand the existing two terminals so that it can reach an annual throughput of 5 million tons. At the same time, we will purchase corresponding port equipment and transport vehicles from China, as well as relevant personnel training.
China will provide Kolo with an interest-free loan of 2 billion Chinese dollars. These funds will be used by Kolo to purchase equipment and materials from China.
These purchases will include the equipment and construction of a large cement plant with a daily output of 5,000 tons, the purchase of medical equipment, drugs and vaccines, and other related purchases. In short, although these loans are interest-free, they all need to be used for purchases from China. All loans have a repayment period of 10 years.
The cement plant mentioned above will be jointly invested by West Africa Group and Kolo Development Investment Company. West Africa Holding Company is the main investment and holds 60% of the cement plant called Kolo Tabulibo. Kolo Development Investment Company invests in resources, land and equipment purchased from China, holding 40% of its shares.
Taboulibo Cement Plant will be located in Maritime Province, about 90 kilometers away from Loti. After completion, it will become the largest cement plant in West Africa. The cement products it produces will not only supply domestic construction in Kolo. In addition, it can also be exported to other African countries.
In addition, Kolo has also reached a number of cooperation with China, including that Kolo welcomes Chinese companies to invest and will provide tax incentives.
China will assist in the construction of a hospital and a nursing school in Kolo and provide some training personnel.
In fact, in the planning for Kolo, the key to ensuring the development of Kolo is to transform the social environment of Kolo.
The most fundamental of these needs to be done from the three aspects of education, medical care and public security.
Education is absolutely necessary. It can be said that education is the most basic. Without a certain scale of educated people, it is impossible to have qualified industrial workers, and only the lowest-end "coolie" industries can be carried out. Wanting to get rid of poverty is simply wishful thinking.
If you don’t have qualified workers, it’s impossible for foreign capital to invest even in manufacturing industries with certain technical content.
In the future, only China will become the world's factory. This is also the result of their always attaching importance to education and being able to have the largest number of high-quality industrial workers in the world. Try replacing it with India? Why can India steal all "foreign capital" equally? It is because they know that they have no hope of using these foreign capital to develop...
In fact, in terms of education, Kolo can be said to be pretty good, at least much better than China in the early days of the founding of the People's Republic of China...
Kolo's current population is about 7 million, with a literacy rate of 63.7%, of which Youth accounted for 84.3%, and female youth accounted for 78.4%.
Due to the colonial rule of the French, the education system before Colo followed the French paradigm.
In the late 19th and early 20th centuries, the first schools were created to satisfy colonial rule and economic exploitation.
The education system includes primary, secondary and higher levels, and children under the age of six enjoy the right to free education.
Enrollment in primary education increased to 72% in 1980, then fell to 52% in 1985, then rose slowly and is currently around 75%.
After that, the Colo government will allocate special education funds every year to promote free basic education, from primary school to junior high school.
And when they visited England, they also received a commitment from the British government to help Colo transform education from French education to English education. For this purpose, England will provide Colo with certain teacher training majors. There are quotas for international students, and volunteers will be sent to help them improve their English education.
Next, school-age children in Kolo will need to receive mandatory basic compulsory education, which will be written into the "Education Bill" being formulated in Kolo.
Both the low-interest aid loans that Colo received from the British side or the International Monetary Fund have previously promised to use part of them for education for all. These are also a reflection of this commitment. execution.
(End of this chapter)