Chapter 826: Taking down Biati
Human beings have the need to pursue better material conditions.
This is human nature.
Issuing corporate bonds does not require the dilution of equity, killing two birds with one stone.
So, Xu Liang saw obvious heartbeat on the faces of the three people.
Xia Zuoquan is the most obvious.
He is an investor and is very concerned about every small change in his own rights and interests.
Especially with the rounds of dilution, his equity in BYAT is not much.
If he could raise funds for corporate development by issuing corporate bonds instead of issuing new shares, he would naturally be willing.
“Third, I can promise that half of the voting rights of BYAT shares owned by Hongyan will be exercised by Mr. Wang Chuanfu.
Unless Mr. Wang leaves BYAT, or BYAT suffers major losses of more than 20% for two consecutive years.
Otherwise, Hongyan will not take back the voting rights. ”
As soon as these words came out, Wang Chuanfu was instantly moved.
He didn’t know if Xu Liang was really optimistic about him.
It was still thrown out to invest in BYD. A stopgap measure?
But no matter what, this third item really touched him.
More than money, what he cares about most is Biati's future.
In other words, Biati's future is under his control.
“I think these three items are enough to show the sincerity of Hongyan and myself.” Xu Liang said.
"Mr. Xu, how much do you value BYAT?" Wang Chuanfu asked directly after thinking for a while.
"8 billion Hong Kong dollars."
Xu Liang affirmed.
BYAT’s current Hong Kong stock market value is approximately HK$6.8 billion.
It has dropped by nearly 40% from its peak.
The reason for the decline is that BYAT entered the passenger car industry and was abandoned by investors and institutions.
Another reason is the decline of the global battery industry this year.
Whether it is BYD, ATL, or Nanfu, the revenue in the first quarter of this year is not ideal.
Xu Liang’s valuation of HK$8 billion is already very kind.
"Mr. Xu, we need to discuss before we can give you an answer."
"No problem.
I look forward to hearing from all three of you. ”
After chatting for a while, Xu Liang personally took the three of them around the Lilac Garden.
After having lunch together, he sent them off.
Back at the Peninsula Hotel
After closing the doors and windows, Lu Xiangyang said impatiently
"Chuanfu, Hongyan's conditions are very favorable. It can not only enrich the company's operating funds, but also not affect your management of the company."
Wang Chuanfu nodded, "Lao Xia, what do you think? ?” >
Now that Xu Liang has voluntarily given up half of his voting rights to you, this worry no longer exists.
And with 1 billion Huaxia coins in operating funds, whether he continues to expand in the battery industry or. In the development of the automotive industry, it is enough.
My only worry is that, including the 'Space Torch' and Qinchuan Automobile's original production capacity, our automobile production capacity will reach 65,000 vehicles per year.
If the F3 model is successful, we will be able to smoothly absorb these production capacities and call it a booster for the development of BYAT Automobile.
But once it fails, it will be a huge waste. "
Wang Chuanfu said with a smile: "One step to heaven, one step to hell. This pressure is indeed a bit high.
But this is a huge opportunity for Biati.
Once we do that, we will be able to become a truly influential automobile giant in China.
It's worth taking a little risk.
Even if we fail, we still have the 1 billion Huaxia coins given by Mr. Xu and the opportunity to start over. "
"It seems that you are ready to agree? "Lu Xiangyang smiled.
"Yes.
It would be a pity to miss such a good opportunity. ”
In the afternoon, Xu Liang received a call from Lao Wang.
The two parties quickly initialed the contract.
Xu Liang’s investment of 2 billion Huaxia coins , when you pay, it becomes US dollars.
After all, BYD is a listed company in Xiangjiang and can be invested directly in US dollars.
In this way, there is no need to use precious Huaxia Coin assets.
Wait with peace of mind for the upcoming wave of appreciation of the Chinese currency.
But rounding up the figures, Xu Liang invested a total of US$250 million.
In April 2005, the exchange rate of the US dollar to the Hong Kong dollar was 1:7.75.
In other words, the US$250 million totals HK$1.9375 billion.
Based on a base investment of HK$8 billion, Xu Liang will obtain 19.5% of BYAT’s equity upon completion.
Lao Wang originally held 26.95% of BYAT's shares, and after dilution, 21.69% remained.
The second largest individual shareholder, Lu Xiangyang, originally owned 16.142%, but after the listing and this round of dilution, he still has 9.2% of the equity.
Xia Zuoquan, the third largest individual shareholder, owned 8.44% of the shares before the listing. After the listing and this round of dilution, he still has 4.82% of the shares.
Yangcheng Rongjie, once the largest institutional shareholder, has now become Hongyan.
Yangcheng Rongjie, which originally held 11.487%, still has 6.55% after two rounds of dilution.
What needs to be emphasized here is that the actual controller behind Yangcheng Rongjie is Lu Xiangyang.
Added the two together, Lu Xiangyang actually owns 15.75% of BYAT’s shares.
Second only to Hongyan and Wang Chuanfu.
In addition to these major shareholders, BYAT management holds 12.91% of the shares.
There are still 16.55% of BYAT's outstanding shares on the market.
Coupled with some small shareholders holding less than 1% of the shares, this is the entire ownership structure of BYAT.
In addition, more than half of BYAT’s outstanding shares on the market are in the hands of Hanhua’s private equity funds.
If this part of the equity is included, Xu Liang holds a total of about 30% of BYAT's equity.
It is truly the largest shareholder.
However, Xu Liang has no intention of concentrating all equity interests under one institution, which is too obvious.
At least on the surface, Wang Chuanfu, as the major shareholder of BYD, is conducive to the stability of the company. In addition, after giving up half of his voting rights, Xu Liang also signed a supplementary agreement.
If BYAT seeks external financing, Hongyan must be consulted first.
Hongyan has the right to give up investment, but BYD cannot refuse Hongyan’s investment for any reason.
This supplemental agreement is a common anti-dilution clause in venture capital.
After finally obtaining a significant stake in BYAT, Xu Liang certainly does not want it to be diluted before it reaches its peak.
After the contract was signed, Xu Liang called Peng Zhiyu who was still in Shanghai.
Let him meet and talk with Wang Chuanfu.
To pave the way for the later transfer of the 'Aerospace Torch' and 'Dongfeng Off-Road Vehicle' companies.
Looking at the contract in his hand, Xu Liang breathed a sigh of relief.
Another goal that I have been thinking about for a long time is in my pocket.
——
"Brother Xu, this place is so beautiful."
Liu Qianqian stood in the 'Feng Pavilion' of the Lilac Garden, looking at the rippling 'Weiming Lake' from the railing. ', her pretty face was full of intoxication.
It happened that a ray of morning sun shone down.
Let the fair, jade-like skin be dyed golden.
The gentle breeze stirred up a few strands of long hair.
From Xu Liang's point of view, the beauty at this moment is like an elf falling into the mortal world, and every part is beautiful.
Turning to look at his admiring eyes, Liu Qianqian asked with a smile.
"Brother Xu, what are you looking at?"
"I wonder where the fairy is so beautiful."
Liu Qianqian said shyly: "I'm not as beautiful as you said. ”
“Give me your hand.”
Liu Qianqian obediently put her soft little hand in his big and generous hand.
Xu Liang exerted his strength.
The little girl screamed.
Before she could recover, her slender waist was already embraced by strong arms.
The warm fragrant nephrite is in my arms.
A strong sense of masculinity instantly enveloped him, and a strong sense of security spread from the bottom of his heart.
However, this made her feel intoxicated with beauty, which was soon interrupted by pain.
Looking at her frown.
"It still hurts down there?"
"Yes."
"Have you applied any medicine?"
The little girl nodded with a rosy face.
"It will be fine after a few days. You will get used to it and it won't hurt anymore."
"Yes."
Looking at her shy look, Xu Liang inexplicably thought of the way she looked when she was playing with Cheng Huan under him the day before yesterday. His heart felt warm and his hands began to move.
Due to the hot weather, Liu Qianqian only wore a sky blue floral short-sleeved T-shirt on her upper body.
The slim-fitting design makes the waist more slender and slim.
The V-shaped neckline exposes the two halves of the delicate collarbone, creating a seductive beauty nest.
From Xu Liang’s perspective, a profound career line can be seen at a glance.
The gradually plumping lines, half-covered and half-covered, are full of temptation.
The lower body is a white knee-length skirt.
Although the beautiful legs are covered, the exposed half of the calf is straight and slender, like mutton-fat white jade, without any flaws.
Looking at it, one can’t help but daydream about the infinite scenery under the skirt.
You can see the jade feet with light blue veins and beautiful lines.
The round toes are pink and cute.
Two pairs of white flat-soled women's sandals, slightly redundant.
Xu Liang's right hand reached out from the hem of his shirt.
After lingering on the willow waist for a while, we walked all the way up.
Smoothly push away the obstructive underwear and indulge in the desires of the siblings.
Liu Qianqian, who had the headlights wiped repeatedly, felt hot inside her body. The fragrant head was pressed tightly against Xu Liang's chest, and her breathing gradually became rapid.
Suddenly.
The rapid ringing of the phone interrupted the increasingly heated atmosphere between the two.
Liu Qianqian trembled and quickly held down his big hand that was causing trouble on her chest.
"Xu...Brother Xu, phone number."
Xu Liang wanted to refuse, but seeing her panic and pleading look, he finally took out his hand.
The pain on the first night made her a little scared.
Especially now that my body is not well yet, my heart is trembling.
Took out his cell phone and looked at the caller ID.
Pressed the answer button.
Jiang Xiaoyang’s voice came quickly.
“Boss Xu, are you still in the Magic City?”
"Yes, didn't we just finish talking to BYD?"
"You are very optimistic about it?"
"Of course. Otherwise, why would I put the aerospace torch and the Dongfeng off-road vehicle? Sell the equity to it?"
"Since you are optimistic about it, why don't you just buy it?"
"I would like to, but I can't help it if they don't sell it."
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"You're not going to sell it even if you spend money on it?" Jiang Xiaoyang said with a smile.
"That's not the case. If I'm willing to pay twice the price, there's a high probability that I can still acquire it.
But there's no need. The key to BYAT's success lies in I have an excellent team.
If I acquire it and people run away, I will suffer a big loss.
They grow the company and I share in the profits.
By the way, why do you care so much about my investment? ”
(End of this chapter)