Hong Kong 1980: The Savage Era

Chapter 346 347 [21 billion yuan in assets]

Mid April

The Spring Festival holiday is fleeting, the festive atmosphere has completely faded, and citizens have returned to their usual busy state.

Luo Qihong had received news that Li family member Li Fook-chau and his friends suddenly sold their 3% stake in Chinese Estates Holdings to Weeley in early March, while Feng Bingfen and Weeley's Asia Securities Company formed Sima Gao Company and held 7% of the interests in Chinese Estates Holdings.

Since the 35% bottom line for a full acquisition has not been reached, there is no need to propose a full acquisition.

"Mr. Luo, you really have a good foresight. Feng Bingfen must be planning to attack Li Fushu's family." Liu Luanxiong said excitedly.

If he controls Chinese Estates Holdings, Liu Luanxiong will become one of the richest people in Hong Kong and a real big shot.

"This is just the work of the think tank, and has little to do with me." Luo Qihong smiled and waved his hand, "Mr. Liang, how many shares of Chinese Estates have we acquired?"

"Less than 10%, and we can't buy any more, otherwise it will be easily discovered." Liang Botao said.

"Then stop it for now." Luo Qihong nodded. "Li Fushu and others are destined to be kicked out of the board of directors of Chinese Estates. When they feel resentful, it will be our opportunity."

Liang Botao pondered for a moment and said, "Wei Li is not an easy character to deal with. We can take away the 28.5% stake in Chinese Estates held by Li Fushu's family, and Wei Li can also take away all the shares of Sima Gao Company. We don't have much advantage."

"Is it possible to suppress the share price of Chinese Estates Holdings and take the opportunity to make an acquisition and increase the shareholding?" Liu Luanxiong said greedily.

"It's impossible to suppress this. If it's exposed in advance, Feng Bingfen and Wei Li will suddenly stop and join forces with Li Fushu and others to deal with us. We won't have any chance of winning." Luo Qihong shook his head.

The essence of the mantis stalks the cicada, unaware of the oriole behind it lies in the word "strange". If it is missing, the two will fall apart.

"Let's first analyze the situation of the small shareholders of Chinese Estates Holdings. Perhaps it will be of great help to us in future acquisitions." Liang Botao distributed the information files to Luo Qihong and Liu Luanxiong.

"Not counting the shares that Li Fushu's family can obtain from small shareholders, the shares we can get are

Friday, October 3

Chinese Estates Holdings Limited held its shareholders' meeting as scheduled to elect new board members.

According to the situation in previous years, family members of the Feng and Li families would occupy the majority of the seats on the board of directors. Feng Bingfen would still be the chairman of the board, and the other directors would continue as usual.

However, in the past few days, the share price of Chinese Estates Holdings has seen a significant increase, ranging from 5% to 10%.

Li Fushu and others trusted Li Fuzhao and did not think this was a big deal. Even though there were rumors of discord between the Feng and Li families circulating in the market, they did not take it too seriously.

It was not until Feng Bingfen announced that Sima Gao Company had acquired 34.8% of the shares of Chinese Estates Holdings and suggested recommending Wei Li, Feng Qingshao, Feng Qingjiang, Han Dacheng, Fu Lidong and others to join the board of directors.

"What does Chairman Feng mean? Are you going to expand the size of the board of directors? Isn't that against the rules?" Li Fushu stood up and reprimanded.

In his opinion, Feng Bingfen destroyed the tacit understanding between the two companies and tried to monopolize Chinese Estates Holdings.

"I suggest revoking the director status of Li Fuzhao, Li Fuqing, Li Guobao and Li Fushu, so that the number of board members does not need to be increased." Feng Bingfen did not pay much attention to Li Fushu's anger.

In fact, in Feng Bingfen's eyes, since the Li family took away the control of Bank of East Asia, the Feng family should take away Chinese Estates Holdings. If you calculate carefully, Chinese Estates Holdings is still not as good as Bank of East Asia, and the Feng family is still at a disadvantage.

"Let's vote now," Feng Bingfen urged. Soon, the result of the vote came out. The meeting voted 53 to 47 in favor of Feng Bingfen's two proposals. All members of the Li family were eliminated, and several directors who had good relations with the Li family were also dismissed.

All the power of the Li family in the board of directors of Chinese Estates Holdings was wiped out, and Chinese Estates Holdings fell into the hands of Feng Bingfen and Wei Li.

"Please produce your equity certificates, otherwise the resolution just now will be invalid." Li Fushu was immediately furious. He never expected such a thing to happen in the Li family.

Wei Li was already prepared and took out a share transfer agreement, which was the document transferring Li Fuzhao and his friends' 7% equity to Asia Securities Company.

Li Fushu and Li Fuqing were speechless. They took a few breaths with their chests heaving, and led their people away from the shareholders' meeting. In the end, they did not make a scene at the shareholders' meeting out of consideration for their reputation.

Walking outside the building, Li Fushu said, "We must initiate the acquisition immediately. We must not lose our ancestral property for no reason."

Li Fuqing said, "Yes, Feng Bingfen has already abandoned the relationship between us, and we can't let him off easily."

"Fung Bing-fan teamed up with outsiders to seize control of Chinese Estates, so we will also look for outsiders to team up with. Yes, we will go to Sun Hung Kai Securities' opponent Fung Yung-cheung and join forces with him to fight Fung Bing-fan."

Although the Li family has many industries and the Bank of East Asia is a giant, they still dare not bet all their assets on Hong Kong, fearing that any turmoil in the future will cause the family to suffer heavy losses.

Therefore, in such an acquisition war, the first reaction is to find allies to share the burden.

25th, Monday.

The Li family and Feng Yongxiang jointly formed the Basina Company and proposed to acquire 16 million shares of Chinese Estates Holdings at HK$1358 per share in cash, involving a capital of HK$2 million. The condition was that the acquisition must exceed 1% or more to be effective.

At that time, Basina Company already owned 28.5% of the shares of Chinese Estates Holdings and obtained the consent of other shareholders holding 2.8% to acquire the shares, which means that the total stake was 31.3%.

By this time, the Feng and Li families had officially broken up, and there was no room for easing.

small conference room
Liu Luanxiong fiddled with the porcelain cup and said, "Now is not the best time to officially join the game."

Liang Botao said, "Judging from the acquisition price of the shares of Basina, Feng Yongxiang and Li Fushu still lack confidence in the acquisition of Chinese Estates and may give up early."

当前华人置业公司的股票只有15元每股，按照总股本2千8百万股计算，市值才4亿2千万，而华人置业公司的净资产保守在6亿元。

This is because the shares of Chinese Estates Holdings have been held by the Feng and Li families for a long time, the trading volume is extremely low, and the stock price will certainly not be too high.

The net asset value is 6 million yuan, and the asset value is estimated to be around 9 million yuan. It also controls two listed companies, Paramount and China Entertainment Properties, which is equivalent to a buy one get two free deal.

Even when buying things in a supermarket, it is extremely tempting.

The asset value of China Entertainment Properties is between 4 and 5 million, but its market value is less than 3 million. The asset value of Paramount is between 7 and 8 million, but its market value is less than 5 million. It can be said to be a rare investment project.

Once the Chinese Estates Holdings is taken over, a series of companies with assets worth 21 billion will be directly acquired. They can form their own group and become a chaebol in Hong Kong.

"It doesn't matter. Li Fushu will not sell the equity to Sima Gao Company. It is still beneficial to us." Luo Qihong said.

Hearing this, Liu Luanxiong held the porcelain cup, thought for a moment, and said, "Since Li Fushu and his people are not so determined to acquire Chinese Estates, perhaps they just don't want Chinese Estates to fall into the hands of Feng Bingfen and Wei Li. We can have a good talk with them, otherwise it will give others the opportunity to intervene."

(End of this chapter)