Chapter 248: One-vote veto power
Xu Liang thought about it briefly and said with a smile: "I am deeply honored to be valued by your company. But cooperation is not necessary. Our Hongyan hedge fund department is establishing the first "Qinglong", a stock-based hedge fund that raises funds from outside,
I can give your company $50 million in fund shares. "
Sherron Watkins asked: "I don't know. How does your company's hedge fund charge? "
"The fund management fee is fixed at 2%. If the investment return rate does not exceed 50%, dividends will be charged at 20%.
If the annual investment return rate exceeds 50%, 30% will be charged.
If the annual return on investment exceeds 100%, Yilv will charge 50%. ”
Sharon Watkins frowned. Although he was a little surprised, he was not too disgusted.
Because hedge funds around the world can double their returns within a year. Too little, even more than 40% is rare. Being able to maintain an annual income of 20% is Buffett's level. Therefore, Sherron Watkins automatically excludes the latter condition.
If Xu Liang can really earn more than double his income within a year, investors will still earn more.
“When will your company’s hedge fund raise funds?”
“It can be done now. But we have a three-month fundraising period. It will be officially closed after three months, and the closing period is two years. ." Xu Liang said.
Sharon Watkins nodded.
“I will contact the head office as soon as possible and give Mr. Xu a reply within three days.”
After Xu Liang nodded, he changed the topic, "I also have a business here that I want to cooperate with your company."
"Oh? Please tell me."
"Mr. Watkins knows Sina?"
"Of course. The largest portal in your country"
Xu Liang nodded slightly, "I am very interested in it, so I want to entrust Morgan to hold it from other sources. Acquisition of Sina shares from Sina Equity Institutions ”
The longer a company operates, the more it realizes the importance of public opinion.
As the largest and most authoritative portal website in the country, Sina can become his mouthpiece and a weapon to resist the violence of public opinion.
Moreover, after the attack of September 11, Sina's stock price has dropped to its lowest value in history, and its market value is hovering around US$90 million, which is very suitable to buy.
However, Sina’s ‘poison pill plan’ always made him wary.
To avoid repeating the grand mistakes of the previous life, he must make complete preparations.
"This is easy. I wonder how much equity Mr. Xu wants?"
Obviously, Sherron Watkins is also very familiar with the situation of China Concept Stocks on Nasdaq.
“The more the better without triggering Sina’s poison pill plan.”
Morgan is different from Hongmeng.
As a foreign investor, the country will most likely not let such a mouthpiece that controls public opinion fall into the hands of Morgan Stanley.
Xu Liang knows this, and Sina management also knows it.
So, Morgan Stanley can acquire as much equity as possible.
As long as Morgan succeeds, Xu Liang can easily acquire Sina's equity from the secondary market based on the current market conditions, plus the 8.7% already owned by Hongmeng.
As long as the sum of the three exceeds 33.7%, he will definitely win.
Because according to the provisions of the "Company Law": "Resolutions made by the shareholders' meeting must be passed by more than half of the voting rights held by shareholders attending the meeting.
However, resolutions made by the shareholders' meeting to amend the company's articles of association, increase or decrease the registered capital, as well as resolutions to merge, split, dissolve or change the company's form must be passed by more than two-thirds of the voting rights held by shareholders present at the meeting. ”
In other words, as long as Xu Liang’s shareholding reaches 33.7%, the possibility of passing the poison pill plan will forever be eliminated.
This is the ‘one-vote veto power’ often mentioned on the Internet. .
Moreover, he specifically emphasized that he entrusted Morgan to acquire equity from institutional shareholders, which reduced the difficulty for him to acquire from the secondary market.
“We can sign at any time. contract. ” said Sherron Watkins.
"It won't be too late to sign the contract when we reach an investment agreement." Xu Liang said with a smile.
Sharon Watkins shrugged, "Of course, I have no problem."
Xu Liang smiled and changed the subject, "Mr. Watkins is in Xiangjiang. Years?”
“Three years, but counting my time at Morgan@Japan, I have been in Dongfang for eight years.”
“It’s really not that short, just right. I have a personal matter to ask of Mr. Watkins.”
"Please tell me, as long as I can do it, I will never refuse."
"Now my business in Xiangjiang is getting more and more, so I plan to buy a residence here. But I know each other in Xiangjiang There are not many people, so I can only ask you.”
“What do you want from Mr. Xu?”
“Good security, beautiful environment, quieter, money is not an issue. " Xu Liang said.
"This matter is easy. I will ask Mr. Xu for it. I believe there will be a result soon."
"Thank you very much."
After chatting about work and eating, Xu Liang personally sent Sherron Watkins away.
In the afternoon, Xu Liang came to Hongmeng Xiangjiang subsidiary.
A brief look at the company's development in August and the data from September to now shows that there has been basically growth, especially comics websites and novel websites, which have grown the fastest.
The former is due to Japanese comics, and the latter is the traditional Chinese translation of Huanjian and Hongxiu, which is very popular among readers in the Greater China area.
"Why are the registered users of music growing so slowly?" Xu Liang asked.
“Most of Xiangjiang’s music copyrights are in the hands of PolyGram, EMI and Warner. Now PolyGram is acquired by Universal, and after EMI declined, Sony replaced it.
We came to ask for cooperation. , were rejected by them.
Insufficient copyright support, and after the initial period of rapid growth, the main reason for our slow growth in users was the lack of success.
The five major record companies now regard music streaming as a scourge. If caught, they will be punished to death.
Napster is the best example.
In the end, it was Lao Qiao who used iPod and iTunes to make the record giant compromise.
Hongmeng and him do not have the influence of Lao Qiao and Apple.
Xu Liang, who made a lot of money through 9.11, has the ability to acquire the top five record companies. However, the market value of record companies has not fallen badly enough. They will wait for another year or two to be devastated by pirated online music and acquire them. It's relatively easy.
The key is also to spend less money.
“Forget about the five major record giants, we don’t have much capital to convince them now. You mainly publicize those small record companies and independent musicians.”
“Understood.”
“What’s going on with the online copyrights of old movies from New Art City and Media Asia?”
“New Art City spent 20 million on 87 movies, and Media Asia is still negotiating, but we just spent 2.3 million Acquired the copyrights of 25 films under Zedong Films.”
"Zedong Movies?"
"The company founded by Wang Jiawei, its more famous films include "Ashes of Time", "Chungking Express", "Happy Together" and "In the Mood for Love"."
Xu Liang suddenly realized that he was the king of sunglasses.
Other people make movies because they are excellent, so they are well known.
The reason why the King of Sunglasses is remembered is that, in addition to his talent that makes people love and hate him just like Jiang Wen, "Ashes of Time", which is known as the king of traps, is also a very important reason.
"Acquire as much of the film, TV and music copyrights in Xiangjiang as possible. If the money is not enough, I will support you."
Xiangjiang movies and TV are the common memories of all those born in the 1980s and 1990s, and these people are also Mainstream people on the Internet.
When a video website is established in the future, he can take the lead with these copyrights.
“Understood.”
Qu Guangyun said.
——
Sharon Watkins acted quickly and brought good news to Xu Liang the day after the meeting.
"Mr. Xu, the head office has officially agreed to subscribe for a US$50 million share of your company's Qinglong Fund."
Xu Liang smiled and looked confident.
“I think this is the best decision Morgan has ever made.”
"We look forward to Mr. Xu bringing us generous returns in two years."
After the two parties shook hands, Sherron Watkins took out another document and handed it over.
"This is an introduction to some of the luxury homes for sale in Xiangjiang that I have collected. Take a look at it. After that, let's go on an on-site inspection."
After saying 'thank you' Xu Liang took it.
But after flipping through it, his brows furrowed.
Most of the houses here are about 400 to 500 square meters, and the living area is enough. However, judging from the photos, they are too close to the surrounding houses and do not have the privacy he wants.
And he doesn’t like European architectural styles either.
Sharon Watkins observed the words, "Mr. Xu doesn't like it?"
"It's a bit small, and it's a little less private." Xu Liang said.
"If Mr. Xu is not optimistic about these, I have a suggestion."
"Oh?"
"Mr. Xu can buy a larger piece of land for luxury houses, hire someone to design it, and build it himself.
And I happen to know that the Hong Kong government is going to auction it next month. A house on Barker Road covers a large area of 36,675 square feet, which I believe can meet Mr. Xu’s requirements.” It is four times the size of his courtyard in the capital, which is indeed enough.
“When does the auction start?”
"If I remember correctly, it should be October 28th."
After Xu Liang wrote down the date, "Mr. Watkins, thank you very much."
"Mr. Xu, you are welcome. Just call me Xie Lun.”
“Xie Lun.”
“Haha, Xu, you are the most talented business genius I have ever seen.”
After exchanging business blows for a while, the two signed a contract to invest in Qinglong Fund.
After sending Sherron Watkins away, Xu Liang found Zhao Xun.
“Have you contacted other investment banks?”
“Already contacted.”
“How is it?”
Zhao Xun took a document and handed it over.
“Except for Goldman Sachs who refused, everyone else chose to cooperate.”
“Goldman Sachs refused?”
Xu Liang was a little surprised. This was not the one he knew. Goldman Sachs is all-encompassing in order to make money.
“Yes.”
"Is it because Hongmeng rejected their financing last time?" Xu Liang asked.
“This is not clear, they did not reply with the reason.”
Xu Liang nodded and looked at the fund subscription amounts of each institution on the list.
(End of this chapter)