Chapter 401: Taking shares in Hang Seng Bank and the beginning of real estate cash out
"He Shanheng?" Yang Wendong thought for a while, nodded in agreement, and said, "Okay, when?"
"He said according to your time." The assistant then said: "You are free the day after tomorrow."
Yang Wendong said: "Okay, then we will meet in the Presidential Suite No. 1 of the Four Seasons Hotel."
The assistant said: 'Okay, I'll make arrangements right away. ’
On the third day, Yang Wendong met He Shanheng at the Four Seasons Hotel. After the two exchanged pleasantries;
He Shanheng went straight to the topic and said: "Yang Sheng, what do you think of our Hang Seng Bank?"
"How about this? What does it mean?" Yang Wendong asked with some confusion.
Yang Wendong really didn’t understand this unclear sentence.
He Shanheng said with a smile: "I mean in terms of future scale, development trends, and existing potential?"
"Of course these are very good." Yang Wendong nodded and said: "Now Hang Seng Bank is the largest Chinese bank in Hong Kong, and its scale is much larger than the original Liao Chong Hing Bank;
And what was the original Liao Chong Hing Bank? As we all know, the situation is simply forced expansion regardless of risks, but today’s Hang Seng is much better.”
Although Hang Seng Silver. A run is about to happen on the bank, which has also caused the collapse of the entire bank, but in fact we really can’t blame it, because no bank can withstand unlimited runs, no matter how normal it is;
Although Hang Seng Bank has developed in recent years It was very fast, but not radical. It relied entirely on the reputation and foundation of its early operations, and then took advantage of the economic explosion in Hong Kong in the early 1960s to develop rapidly.
"Haha, thank you for the compliment, but I think it is still far behind Yang Sheng's Changxing Group." He Shanheng smiled and asked: "Then is Yang Sheng interested in buying a stake in our Hang Seng Group? Bank? ”
Yang Wendong asked in surprise: "Hang Seng Bank wants to accept financing? You should not be short of money, right? Do you have any big plans?"
This indeed surprised him. Hang Seng Bank has developed so smoothly in recent years. There is definitely no problem with funding within the existing business scope, unless there is any major investment plan that requires additional funds. For example, the Bank of East Asia introduced external funds in order to expand in the past few years.
It’s just that Yang Wendong’s capital was not strong enough at that time, and he could not provide Bank of East Asia with enough help from a strategic perspective, so he did not seek to participate in this matter.
“It’s not that I have any big investment plan, but I am planning to list Hang Seng.” He Shanheng said with a smile.
"Hang Seng is listed?" Yang Wendong paused and said: "The Hong Kong Stock Exchange is not very welcoming to Chinese capital, and it is not that easy to get in."
Before Li Fuzhao established the Far East Exchange in 1969, there was only one Hong Kong Stock Exchange in Hong Kong, and this exchange was naturally controlled by British capital. Basically, it only welcomed British capital or a few special public enterprises. Other Chinese capital wanted to be here. It is difficult to go public.
The logic is also very simple. The number of leeks is also limited. Large British companies cannot cut enough by themselves, so they may agree to allow other Chinese to join in, especially if Chinese capital obtains a large amount of funds after listing. After becoming famous, it will only compete with British capital for the market. After all, most companies in Hong Kong make money within Hong Kong Island.
“It is difficult, but it is not impossible.” He Shanheng said with a smile: “Most of the listed companies on the Hong Kong Stock Exchange are British-owned, which has aroused the concern of many Chinese-owned capital, media and even Chinese officials. Dissatisfied.
Hang Seng is now the largest Chinese-owned bank in Hong Kong. It makes perfect sense for me to take the lead in promoting this matter. As long as I succeed this time, it will be much easier for other Chinese-owned banks to go public in the future. "
Yang Wendong nodded and said: "It is true, but if you do this, you will offend a lot of British capital and even the Hong Kong government. Is it worth it? "
"It's worth it, no matter from my perspective or the Chinese perspective, someone has to do this." He Shanheng added: "Hang Seng Bank has developed to the point where it is today. If it wants to go further, it needs to be listed. Only by listing , it will not only gain great fame in Hong Kong, but also have the opportunity to enter other overseas markets.”
“Are you planning to enter other overseas markets?” Yang Wendong asked.
He Shanheng nodded and said: "It's not easy, but you have to try no matter what. Otherwise, what future can you have if you are trapped in a city like Hong Kong? The upper limit is dead.
Only by going overseas and making achievements overseas , it is possible to go further, just like Yang Sheng's Changxing Industrial."
"Well, if it is listed, it will be more convenient to invest overseas." Yang Wendong agreed: "He Sheng's ambition is really big. .”
In the original history, Hang Seng Bank was completely acquired by HSBC after a run in 1965. Although the Ho family still held positions and had management rights, they no longer had any decision-making power. It is estimated that the original big plan was stopped by HSBC.
But it is normal to think about it. People like He Shanheng have great ambitions. After becoming a top banker in Hong Kong, it is normal for him to find ways to invest overseas;
Although this road is extremely difficult Let’s go, but entrepreneurs, who doesn’t keep moving forward despite knowing the difficulties ahead? If you don’t even have this intention, it’s impossible to get big.
"Both and each other, Yang Sheng is much better than me. I heard that he is planning to invest in the UK?" He Shanheng smiled and said, "But the UK has been quite chaotic recently, so you should be careful."< br>
Yang Wendong said: "I know that I will not participate in those messy things. The people I recruit will also be white, so as to avoid trouble."
Britain was in chaos in the 1960s. Because of the shortage of people after World War II, Britain relaxed its naturalization restrictions on colonial people. As a result, a large number of blacks, Indians, people of color, etc. entered the UK. In a dozen years, the number reached one million.
As a result, the local far-right forces reared their head, and all parties were in a quarrel.
"With Yang Sheng's intelligence, he must have plans in this regard, but I am worried about it." He Shanheng continued: “Back to business, Hang Seng Bank’s plan to go public this time also requires We need more shareholders to join in. This is firstly a requirement for listing, and secondly, considering the strength of multiple Chinese investors, we will have a higher probability of success.”
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“How much do you want me to invest in?” Yang Wendong asked.
He Shanheng said: "2-3% is enough. It doesn't matter too much or too little. I will also give you a position as a non-executive director, Yang Sheng. How about it?"
"What about the valuation?" Yang Wendong asked again .
He Shanheng shook his head and said: "It's hard to say yet. After I find other Chinese capital, I will unify the valuation at that time."
"Alright." Yang Wendong nodded and said: " That 2 or 3 percentage points is no problem. After you confirm it, we will consider the next step.”
Although Hang Seng will be run on next year, we don’t know whether he can save it with his ability. , but even if it doesn't work, I still have the opportunity to obtain the future stocks of Hang Seng, a subsidiary of HSBC, which is also cost-effective. After all, the foundation of Hang Seng has been laid very solidly by He Shanheng. Under the management of HSBC, it will still be a good investment.
And as long as you become a shareholder first, even a small shareholder, you can legitimately intervene in this matter when the time comes, and it is not considered to be against HSBC.
He Shanheng said with a smile: "Well, when there is progress in the follow-up, I will invite Yang Sheng and other shareholders to go to the headquarters of Hang Seng Bank to discuss this matter."
"Okay." Yang Wendong Nodding,
After chatting for a while, He Shanheng left.
After returning to Changxing Building, Yang Wendong immediately called Zheng Zhijie and asked: "How many loans does our group have with Hang Seng Bank?"
"About HK$40 million." Zheng Zhijie replied: "For many properties and land we have acquired over the years, we have paid a small amount ourselves, and Hang Seng Bank and East Asia have contributed a large share;
And the relationship between the two banks , Hang Seng Bank’s scale is more It’s big, so there are many shared houses, and some of Changxing Industrial’s factory investments are in cooperation with Hang Seng Bank, but not many.” “That’s about it,” Yang Wendong nodded and said. It's almost the middle of the year now , according to our previous plan, let’s start cashing out the non-core properties in our hands.
Except for the Central Building, some high-quality street shops on Hong Kong Island, or some other high-quality properties, all others will be sold off at the end of the year. Before, all of them were cashed out.”
If it is only a small amount of land and property, it is not a problem to wait until the last month or two to cash out; but when it involves an area of millions of square feet, it is necessary to cash out early. Give the market time to buffer and absorb.
Not making the last penny is a common saying of many big guys. This statement is true in itself, but the reality is that they cannot make the last penny because it takes time to cash out large-scale assets.
"Okay, I'll make the arrangements right away." Zheng Zhijie promised. He had already known his boss's plan. He had started to shrink his strategy last year, and today he was ready to completely leave the market and cash out.
Yang Wendong added: "In addition, the increase in the cashed-out funds will be counted as ours, and the previous loans will also be returned directly to the major banks."
"Return to the banks? Don't consider it. Can you keep some of it for other uses?" Zheng Zhijie asked.
Yang Wendong shook his head and said: "In the short term, I am not very optimistic about Hong Kong's economy. As for investment in other places, just cooperate directly with local banks. This can also win over local forces."
This can be regarded as a big gift that Yang Wendong gave to Hang Seng Bank before the run. With part of the funds after cashing out, he can survive at least two more days in the face of the run.
Of course, whether it can play a decisive role He has no control over whether Hang Seng will lend out the funds in the next six months or not.
Zheng Zhijie agreed and said: "Okay, I understand."
"Yeah" Yang Wendong said again: "In addition to the property, the existing leasing business also needs to be signed with customers as soon as possible. A five-year agreement can be cheaper. "
The current cheapness is naturally based on the current rent, but by the end of next year, Hong Kong's housing prices and rents will fall by more than half; by 1967, they will only be 20%. .
If it were a personal lease, Yang Wendong would not be so good at it, but since they are all in business, it depends on their own vision. Anyway, nothing will be forced.
Of course, if some companies really can't afford the rent, and they can't rent it out after they withdraw, then he can also reduce the rent appropriately, so that he can gain a certain good reputation, and he can achieve multiple things with one stone. .
Zheng Zhijie smiled and said: "No problem, this matter has already been planned."
PS: Please vote for me.
What a coincidence. The book writes about bank runs, but there are also runs in reality...
(End of this chapter)