In Hong Kong, we build a global business empire

Chapter 162: Taking over Hong Kong Electric Group, shareholders rush to sell their shares

Lin Haoran's words surprised Chen Shoulin.

He didn't expect that the boss in front of him still had funds to acquire other companies after acquiring the Hong Kong Electric Group.

Moreover, a development project like the former site of the North Point Electric Road Power Station is not something that an ordinary real estate company can develop. The land alone is worth more than HK$1 billion, not to mention the continued investment in development.

Therefore, if the boss in front of him wants to acquire something, he has to acquire a large real estate company!
It's cooperation no matter who you cooperate with. Since the boss doesn't plan to cooperate with Cheung Kong Group, Chen Shoulin didn't specifically object because there was no need.

For the rest of the afternoon, Chen Shoulin took a lot of important information about the Hong Kong Electric Group to show to the new boss.

And he began to get busy.

After all, there are a lot of things to do, including a board meeting and a press conference!
In the blink of an eye, it was 3:40 in the afternoon, with only 20 minutes left until today's closing.

Lin Haoran put down the information in his hand and called Su Zhixue again.

"Boss, I just made a rough estimate. The shares of Hong Kong Electric Company purchased today, plus those purchased in the morning, have exceeded 3.6 million shares. However, the share price of Hong Kong Electric Company has also been gradually raised to around HK$, and the speed of increase is a little faster than usual." Su Zhixue reported.

"Okay, well done!" Lin Haoran said with a smile.

This was pretty much what he expected.

As the buying volume of stocks increases, the stock price will definitely rise faster, there is nothing that can be done about it.

"By the way, since there is still some time before the closing, Zhixue, please give me the statistics as soon as possible. If you want to acquire about 3500 million shares today, how high will the stock price be pushed?" Lin Haoran suddenly thought of something and asked.

"Okay, boss. I'll do the counting right away. It will take five to ten minutes. I'll get back to you later!" Su Zhixue quickly put down the phone and started calling the stock exchange to do the counting.

Lin Haoran sat by the phone, waiting for news from Su Zhixue.

Because Lin Haoran suddenly thought of something. The shares of Hong Kong Electric Group that he currently holds, not counting the part absorbed by Universal Investment Company today, has reached 21725 million shares.

If he can acquire 3500 million shares today, then his stake in Hong Kong Electric Group will be slightly over 40%!

A 40% shareholding rate is a milestone.

About seven minutes later, Su Zhixue finally called back.

"Boss, I just counted through the traders at the stock exchange. According to the current sell order price, if we want to collect 3500 million shares of Hong Kong Electric Group, the price will be raised to around HK$3.78 per share!" Su Zhixue replied.

Lin Haoran looked at the time. It was already 3:54 in the afternoon, which meant that there were less than six minutes left before the stock market closed.

"Okay, you guys take action immediately, scan the pending orders, and set the target within HK$3.8!" Lin Haoran gave the order directly.

"Roger that!"

Time was running out, so Su Zhixue didn't continue chatting with Lin Haoran for too long and soon became busy.

Twenty minutes passed before Su Zhixue called back.

Because after the market closes, he still needs to summarize today's acquisitions.

"Boss, today we have purchased a total of 3978 million shares of Hong Kong Electric Group, with an average price of HK$3.69 per share. The total expenditure is approximately HK$14679 million. The cost is to directly raise the share price from HK$3.52 per share to HK$3.8 per share." Su Zhixue reported quickly.

"Very good, you performed well." Lin Haoran was very satisfied.

This increased effort to absorb shares was indeed effective. Although the stock price rose a lot all of a sudden, it was worth it. If it were last week, it would have taken several days to absorb this amount.

That’s nearly 4000 million shares!

This also shows how active the Hong Kong stock market is now, with too many investors speculating in stocks.

Adding the 21725 million shares he previously acquired, Lin Haoran has now acquired 25703 million shares, which translates into a 40.8% shareholding in total.

Now, he feels more confident about the Hong Kong Electric Group.

With more than 40% of the shares, who could oppose him taking over the Hong Kong Electric Group?
In the blink of an eye, it was five o'clock in the afternoon.

Board members of Hong Kong Electric Group also arrived at the conference room one after another.

The directors discussed this sudden meeting privately and speculated about what it was about.

Because they know that board meetings are not easily held unless there is an emergency or a major event.

However, when the time came, they found that Cesar Bridges, the major shareholder of Hong Kong Electric Group, was not there.

If Caesar Bridges didn't show up at the appointed time, it meant that he would miss the board meeting.

Some board members even speculated: Could it be that this meeting was related to Mr. Caesar Bridges?
"Okay, the meeting time has come. Please be quiet. Next, please ask the secretary of the board of directors to record the content of our entire meeting. We will mainly talk about two meeting topics today:

The first is that Mr. Caesar Bridges has sold his group shares to Mr. Lin Haoran, so Mr. Caesar Bridges automatically withdraws from the board of directors of Hong Kong Electric Group from today onwards. From now on, Mr. Caesar Bridges has no relationship with our Hong Kong Electric Group;
The content of the second meeting was that Mr. Lam Ho Yin already controlled more than 34% of the shares of Hong Kong Electric Group, so Mr. Lam Ho Yin officially became an important shareholder of Hong Kong Electric Group.

The third meeting content is that I apply to resign as the chairman of the Hong Kong Electric Group and propose that Mr. Lin Haoran take over. Now, please let Mr. Lin speak. "Chen Shoulin went straight to the point.

As soon as he finished speaking, many directors present couldn't help but take a deep breath.

This news is so shocking.

Previously, everyone was very surprised when Lin Haoran acquired the shares of Percy, the second largest shareholder.

Now, not only has it reacquired the shares of the former largest shareholder of Hong Kong Electric Group, it also directly holds more than 34% of the shares. How can this not be shocking!

“Dear colleagues, let me make a correction. I now hold more than 40% of the shares of Hong Kong Electric Group. Just today, I asked someone to purchase a lot of shares from the secondary market again.

In view of this situation, I have decided to propose to become the Chairman of the Board of Directors of Hong Kong Electric Group, and Mr. Chen Shoulin will become the Group Executive Director and General Manager. In the future, I will oversee the development of Hong Kong Electric Group as the Chairman, while the management affairs will continue to be handled by Mr. Chen Shoulin! "Lin Haoran stood up and said with a smile.

Under normal circumstances, a decision on such an important matter would require a vote by the board members.

But now, voting is completely meaningless. The shares owned by Lin Haoran give him a veto power in the board of directors, and it is difficult for others to oppose what he says.

When Lin Haoran finished speaking, the scene was eerily quiet.

Even the secretary of the board of directors couldn't help but stop recording and stared at Lin Haoran in amazement, as if he couldn't believe it. The news came too suddenly, so suddenly that they didn't have time to digest it.

However, at this moment, a burst of applause broke the silence of the scene. It was Chen Shoulin's applause.

The applause immediately brought everyone back to their senses and they all started to applaud.

Things are changing. Things are changing for the Hong Kong Electric Group.

This is what everyone present was thinking at the moment.

Who would have thought that Lin Haoran, a young Hong Kong native of Chinese descent, actually came here to take over the Hong Kong Electric Group?

More than 40% of the shares!

Now, the board of directors of Hong Kong Electric Group is in name only. Who else can oppose Lin Haoran’s proposal?

If this company encounters a rebellious person, will there be any bright future for the Hong Kong Electric Group?
Although Lin Haoran just said that the management would still be handed over to Chen Shoulin, they didn't believe that Lin Haoran would not interfere in the management of the group.

At this point, the four foreign shareholders present became worried.

"Okay, that's all for this meeting. Please excuse me for making the trip. We will have a press conference at six o'clock, and we will make these matters public at that time. Those who want to attend can stay and participate. This board meeting is over!" Chen Shoulin directly announced the end of the meeting.

Rather than asking them to come to the meeting, it would be more accurate to just call them over and inform them.

After the meeting, everyone was talking about it for a long time.

Lin Haoran went back to the chairman's office and sat waiting.

Lin Haoran will continue to let Chen Shoulin use this office. Although he has become the chairman, he probably won't come to the group too often. It would be better to give it to Chen Shoulin directly. He is used to working here.

After officially becoming the chairman, Lin Haoran has been able to see the loyalty of these senior executives, which is quite good, all reaching over 80.

However, they are certainly not loyal to Lin Haoran, but to the Hong Kong Electric Group.

However, now that Lin Haoran has taken over the Hong Kong Electric Group, their loyalty to the Hong Kong Electric Group means they are indirectly loyal to Lin Haoran.

As for those shareholders, they are not employees of the group, but rather one of the bosses of the group, so they will not show loyalty.

Seeing this loyalty, Lin Haoran felt relieved.

It is no wonder that the Hong Kong Electric Group is managed so well. With such a loyal and capable management team, how can the Hong Kong Electric Group not develop well!
Not long after Lin Haoran sat in the office, Chen Shoulin unexpectedly came into the office with four shareholders.

"Boss, four gentlemen want to see you for something." Chen Shoulin said to Lin Haoran.

"Oh? What's the matter?" Lin Haoran asked in surprise.

"Mr. Chen, this is the case. I don't know if you would still like to accept shares of Hong Kong Electric Group. I hold 3500 million shares of Hong Kong Electric Group. If Mr. Chen is willing to buy, I am willing to sell them to you at HK$4 per share." This was the original third largest shareholder of Hong Kong Electric Group, and is now the second largest shareholder.

"Mr. Chen, I hold 3200 million shares of Hong Kong Electric Group, and I am willing to sell them to you at HK$4 per share."

"Mr. Chen, I hold 2900 million shares of Hong Kong Electric Group, and I am willing to sell them to you at HK$4 per share."

"Mr. Chen, I hold 2850 million shares of Hong Kong Electric Group, and I am willing to sell them to you at HK$4 per share."

The four of them stated their goals one by one.

Even Lin Haoran was surprised when he heard their words.

My entry into the company actually led their group to decide to withdraw from the Hong Kong Electric Group?
This kind of situation was really beyond his expectation, otherwise he would not have needed to let Su Zhixue make large purchases in the stock market. He could have directly acquired the shares of these shareholders.

Could it be that they are afraid that the share price of Hong Kong Electric Group will fall after they take office?
It is normal to have this concern, because after Lin Haoran took over Qingzhou Yingni Company, the company's stock price fell sharply. Many people in Hong Kong know about this, and the shareholders of the Hong Kong Electric Group are naturally very clear about it.

Perhaps this is one of the reasons, Lin Haoran guessed.

However, this is indeed good news for him. He can easily hold 49.9% of the shares of Hong Kong Electric Group without having to continue buying from the stock market.

If he continues to buy shares from the stock market, by the time he has bought 49.9% of the shares, the share price would have already broken HK$4 per share, and might even reach HK$4.2/4.3 per share.

It was indeed reasonable for these people to sell it to him at HK$4 per share.

However, since the opportunity was right in front of him, Lin Haoran certainly wouldn't agree to the price.

“Everyone, I understand your intentions, but I’m sorry, I already control more than 40% of the shares, which means that no one can threaten my position anymore, so there is no need for me to increase my holdings.

What's more, once the shares exceed 50%, HK Electric Group will be privatized. I have no intention of privatizing the group, so even if I am willing to buy your shares, I cannot buy all of your shares.

Moreover, I cannot possibly accept your offer of HK$4 per share. If I want the shares, I'd rather buy them directly from the stock market. The cost will be lower. We will hold a press conference later, and by then everyone in Hong Kong will know that I have taken charge of the Hong Kong Electric Group. I just don't know whether the share price of the Hong Kong Electric Group will fall or rise after they know it?
Last week's closing price was HK$3.5 per share. If you are willing to sell, I can buy 5734 million of your shares at this price. If I buy more, I will exceed 50%. If you are not willing, you can sell them in the secondary market." Lin Haoran said with a smile.

He speculated that these people were worried that once the news got out, the share price of Hong Kong Electric Group would plummet, and it would be difficult for them to sell their shares.

So, Lin Haoran was openly threatening them.

Several people looked at each other. Just when Lin Haoran thought they would discuss it with each other, he did not expect that the second largest shareholder said to Lin Haoran at the fastest speed: "Mr. Lin, I am willing to sell my 3500 million shares to you at a price of HK$3.5 per share!"

"Mr. Lin, I am also willing to sell it to you at HK$3.5 per share!" the third largest shareholder continued.

Twenty minutes later, Lin Haoran signed a share transfer contract with the two. His shares in Hong Kong Electric Group officially increased by 5734 million shares, spending HK$20069 million. His total shareholding reached 31437 million shares, accounting for 49.9% of the total shares.

As for the two shareholders behind, I’m sorry, Lin Haoran has no plans to continue the acquisition.

Who told them it was late?

Fortunately, the average price of stocks purchased by Huanyu Investment Company today was only HK$3.69 per share, not much more than HK$3.5 per share, otherwise Lin Haoran would be heartbroken.

However, the stock holding was going very smoothly, and he had no intention of haggling over this small amount of money.

Hong Kong Electric Group, from today on, will never escape from Lin Haoran's control. Even if the Hong Kong Land Group is unwilling to give up, it has no chance of snatching the Hong Kong Electric Group from him.

(End of this chapter)