Chapter 19 Privatization and Delisting
Tuesday, May 23, 1978.
This morning, Su Group issued a group announcement through the "Xiangjiang Securities News".
The contents of the announcement are nothing more than that the Su Group has officially been taken over by the 22-year-old Su Cheng. The former vice chairman of the group, Yang Zhao, Director Xie Long, Liu Fuhao and other shareholders have officially withdrawn from their shares. Ms. Zhang Li has served as Things like interim vice president of the group.
Originally, this was just an ordinary announcement from a listed company, but just because of this announcement, the stock price of Su Group plummeted again from being calm.
"Xiangjiang Securities News" has a very high status among shareholders, so basically, many listed companies' announcements are published in this newspaper.
Therefore, the vast majority of shareholders also saw this announcement.
In itself, Su Group's stock price fell for more than a week due to the death of its core figure Su Tianhe.
It was only after Yang Zhao issued several public announcements that investors regained their confidence.
Now that there is so much bad news, how can this not make investors holding Su Group stocks panic?
All shareholders ran away, even Vice Chairman Yang Zhao, who had been issuing Anmin announcements before, ran away. What did this prove? It proved that they, the big bosses holding large amounts of stocks, no longer believed in the Su Group.
And Su Cheng, who was only 22 years old, took up the position of chairman, which made everyone lack confidence in Su Group.
Some 22-year-olds are still in college. With such a young man, what future does the Su Group have?
As for Ms. Zhang Li’s appointment as interim vice president, it has been ignored by everyone. Who is Zhang Li? Just a secretary? A secretary as vice president? This is even more hopeless!
Ever since, all the investors holding Su Group have rushed to list their stocks on the exchange, hoping to sell them as soon as possible to reduce their losses.
The trading team temporarily formed by Zhang Qizheng had already received the news in advance and began to secretly absorb Su Group's stocks at less than half of the original price.
As for the high-priced stocks at the top, naturally they will not absorb it.
At the close of trading, the head of the trading team called Zhang Qizheng from the exchange: "Mr. Zhang, in one day today, we absorbed a total of 6.88% of Su Group's stocks. And basically They were all purchased at a very low price. There are still many Su Group stocks on the stock market, but because the price is relatively high, we will not accept them for the time being."
"Very good. Okay, let's continue tomorrow, we must try to buy back all the stocks, but we can't let the investors find out the heresy," Zhang Qizheng instructed on the phone.
"Mr. Zhang, please rest assured. We have rich trading experience and are determined to finish this battle beautifully!" the person in charge said confidently.
Later, Zhang Qizheng called Su Cheng again.
At this time, Su Cheng was looking at the company's information in the chairman's office of Su Group, and standing next to him was Zhong Chuhong who had just finished class.
At this time, Zhong Chuhong was behind Su Cheng, using her delicate hands to rub Su Cheng's shoulders and back.
Su Cheng couldn't help but "hum" in comfort.
This damn rich life was so enjoyable that he couldn't help but indulge in it.
After receiving the phone message from Zhang Qizheng, Su Cheng was very satisfied.
On his side, he currently holds 90% of the shares of the Su Group, plus the 6.88% shares acquired by Tianyuan Investment Management Company. In other words, he already controls 96.88% of the Su Group today. Equity.
There is a clear regulation for listed companies in Hong Kong in this era. If a listed company wants to delist and become a privatized company, the shareholders applying for delisting must hold more than 75% of the equity before they can start to submit the company's delisting application. .
What to do with the remaining stocks that have not been sold? Of course it is impossible to invalidate it, but you can no longer enjoy the dividend benefits of the company. In other words, if the stock you hold is not sold, it is equivalent to a piece of waste paper, but you still want to sell it? Then you can only find this company and let them recycle it, and they can only recycle it at the stock price before delisting. Therefore, in fact, Sioux City has already been able to submit a delisting application to the exchange.
However, as a responsible person, Su Cheng is still more willing to repurchase as much as he can to avoid any disputes later.
After all, some investors feel that if they are like this, isn’t it a huge loss? When the time comes to organize people to make trouble in the company, even if they are unreasonable, they will not make things easier for you.
So, Su Cheng feels that it is better to do less than to do more. If you can repurchase them all, try to repurchase them all.
On May 24, the trading team continued to secretly repurchase Su Group shares on the stock market.
Until the stock market closed in the afternoon, another 2.52% of Su Group shares were acquired.
At this time, Su's actual control of Su Group's stocks had reached 99.4%.
And 9.4% of this cost Tianyuan Investment Management Company less than 20 million Hong Kong dollars.
In other words, this time Su City repurchased the shares held by these shareholders at a price per share that was lower than the price paid for Yang Zhao and the others.
After obtaining the data, Su Cheng directly asked the trading team to continue to stop trading because it was no longer necessary.
"You have done a very good job. I am very satisfied. If you deserve the rewards, I will ask Mr. Zhang to settle the settlement for you before paying your wages next month." Su Cheng said directly to the person in charge of the trading team.
Then, he went directly to Zhang Li, who is currently the interim vice president of Su Group.
"Sister Zhang, go to the Xiangjiang Stock Exchange before get off work. This is an application for delisting of a company that I made. Please submit it for me." Seeing Zhang Li coming over, Su Cheng took out He handed the application to her and said.
“Is our group going to delist?” Zhang Li was very surprised.
Su City’s plan to delist has always been carried out in secret, so it can be said that the entire Su Group’s executives are not aware of this matter.
No wonder Zhang Li was surprised.
"Currently, I have acquired 9.4% of the stocks on the stock market through a trading company, so the equity of Su Group that I now control has reached 99.4%, and only 0.6% of the outstanding stocks are left. This way In this situation, there is no need to keep the name of being listed." Su Cheng kept the story short.
“I didn’t expect that Director Su would have such courage and actually planned to privatize the group. It’s really scary. It seems that Director Su is very optimistic about the future of Su Group!” Zhang Li said with emotion.
"I know my own business, so I'll trouble Sister Zhang." Su Cheng said with a smile and didn't say much.
“This is what I should do.” Zhang Li nodded and said.
"In the past two days, you have been in charge of the entire group's affairs for the first time, have you been busy?" Su Cheng asked.
"It actually feels good. This is also due to the fact that I have served as secretary of the board of directors for a long time. I know all the affairs of the group clearly, so it is relatively easy to deal with everything." Speaking of this, Zhang Li showed a heartfelt smile.
In fact, Zhang Li is still capable of managing a group worth hundreds of millions. After all, she had been a senior executive of the Su Group for ten years before this.
But Su Cheng knows that if the Su Group continues to develop and grow, it needs a leader with keen antennae and far-sightedness.
This is why Su City is looking for a capable manager to serve as the president of Su Group through headhunting!
He said in front of Su Tianhe's tombstone that since God's will has allowed the Su Group to return to his hands, he will develop the Su Group and build it into a giant group.
(End of this chapter)