Hong Kong 1980: The Savage Era

Chapter 56 056 [Acquisition of Paramount]

Luo Qihong had no objection to Fenggui Development Company's desire to explode the North Point real estate agency market. After all, Fenggui Development Company would suffer greater losses, and he did not have the time to deal with Fenggui Development Company. Moreover, Fenggui Development Company had already paid the price for its previous targeted actions.

In Luo Qihong's eyes, those colleagues were nothing but a bunch of scum who only cared about immediate interests, and he was not even qualified to look them in the eye.

The newspapers in the office rustled. Luo Qihong stared at an article in a trance and sighed, "This is really an era full of miracles. The market value has skyrocketed so wildly."

The top ten listed real estate companies in Hong Kong: Anglo-Asia Land Development ranked first with a market value of 115 billion yuan; the second place was Cheung Kong Holdings, with a market value of 79.2 billion yuan; Sun Hung Kai Properties ranked third with a market value of 73.4 billion yuan; Sino Land Development ranked ninth with a market value of 33.81 billion yuan, followed by Hang Lung Group.

Luo Qihong guessed that the publication of this article would definitely cause changes in the stock market. To his surprise, the company that was most shaken was Sun Hung Kai Properties. This company would not be listed for a few days, but there were already buyers in the market offering 3 yuan per share to purchase Sun Hung Kai Properties' subscribed shares.

This is a 50% profit before the market even starts. Of course, few investors are willing to give up their shares so quickly. After all, many people know that the share price of Sun Hung Kai Properties will not be lower than RMB 5 per share.

In this case, Luo Qihong's return on investment in Sun Hung Kai Properties' stocks will not be less than 180 million yuan, and the price of 5 yuan per share will rise to within a short period of time.

Cluck! !
There was a knock on the door, interrupting Luo Qihong's thoughts.

"Mr. Luo!" Yang Mingkun sat on the chair opposite at Luo Qihong's signal. "The renovation of those two shops has been completed. When will our next project start?"

Luo Qihong smiled and said, "Didn't Mr. Yang receive any other business?"

Although Dehe Real Estate had a number of target stores, it could not withstand Yang Mingkun's overtime work day and night. The project that was supposed to take a week was completed in just 5 days, which made Luo Qihong feel a little stressed.

"We had a residential renovation project before, but we had to rush the store renovation, so we turned it down." Yang Mingkun said. This was a promise made by Luo Qihong in advance, guaranteeing that the project could be started for at least three weeks a month.

"Mr. Yang, you guys who are working on the projects should also pay attention to rest. If there is no special instruction for Dehe Real Estate's projects, there is no need to rush. Besides, we also need to recover the funds before we can carry out more projects." Luo Qihong tactfully persuaded Yang Mingkun not to work too hard.

Yang Mingkun smiled sheepishly and said, "I needed to pay my son and daughter's tuition a few days ago, so I worked a little harder, but I won't do that again next time."

Luo Qihong nodded, took out a document from the drawer, handed it to Yang Mingkun, and said, "This is the decoration plan for the office on the 6th floor of Wan Chai Lide Building, with an area of ​​5900 square feet. This property has been sold to other companies by Dehe Real Estate Company, but I won this decoration project for Fengtu Construction Company, and the client paid 13 yuan for the decoration fee."

Yang Mingkun happily took the proposal. This was a big project. "Is there a deadline?"

"Yes, it will be completed within half a month. The other party is anxious to move in and work." Luo Qihong moved the check from the table to Yang Mingkun.

"Okay! I guarantee it will be completed within half a month." Yang Mingkun promised with a smile. The work in the first half of March has been completed. Once the shops of Dehe Real Estate Company are sold, they will have the renovation project work in the second half of the month.

"Mr. Yang, you work in the construction industry, so you should know a lot of people. If you have any information about a large shop for sale in the future, you can call me and I will give you some commission accordingly." Luo Qihong has limited staff under him, and sometimes he cannot find a suitable shop in time.

And now many people have started to follow the trend, and it is becoming increasingly difficult to find large stores, so Luo Qihong has to recruit a few more helpers.

"Okay! I'll help keep an eye out." Yang Mingkun said with a smile.

On Thursday, March 3, Hong Kong MTR Corporation announced that Hang Lung won the bid for the property development rights project above the Fortress Hill MTR Station on Hong Kong Island. The bid proposal is to pay the MTR Corporation 5 million yuan for the land purchase fee, and the MTR Corporation will receive 4.3% of the profits generated by the entire project.
The project covers an area of ​​approximately 4.8 square feet and can be built into a commercial building with a floor area of ​​62.4 square feet. Compared with the Sai Ying Pun MTR station, the Fortress Hill MTR station has a more advantageous geographical location. There are a large number of residential buildings nearby and the population is more densely populated. Naturally, the price of the commercial building built there is not comparable to Sai Ying Pun.

With such a high-quality project falling into the hands of Hang Lung Group, the share price is bound to rise slightly. In fact, when the bidding was registered, Hang Lung Group had a lot of support because it had already won the development rights for the properties above two Hong Kong Island subway stations.

At the same time, Liang Botao brought news that the stock of Paramount Restaurant Company had been acquired to 2523 million shares, accounting for 29% of the total share capital, at a cost of 756.9 million yuan.

Yesterday morning, Liang Botao had sought Luo Qihong's consent and would meet with Wu Wenbai, the second largest shareholder of Paramount Restaurant Company, on the 5th. Wu Wenbai holds 14% of the shares of Paramount Company.

A private room in a restaurant in Central

Wu Wenbai is a middle-aged man in his forties with average looks, but his dressing style makes him look younger, giving him the illusion of being a playboy.

"Hello, Mr. Wu!" Liang Botao introduced Luo Qihong to Wu Wenbo, including the fact that Luo Qihong's acquisition of Jide Real Estate Company failed. His intention was not to put Luo Qihong down. His subconscious thought was that Luo Qihong had acquisition experience and could also withdraw and choose other companies.

"Hello, Mr. Luo! You are really young and promising. Mr. Luo is going to acquire a listed company in his 20s. I am ashamed of myself." Although Wu Wenbai suspected that Luo Qihong was a rich second-generation, he would not show this.

After all, some rich second-generations don’t like such flattery. They prefer others to praise their abilities rather than their family’s influence.

"Mr. Wu, thank you for the compliment." The three of them sat down, with Luo Qihong and Liang Botao sitting on the same side.

After a few words of flattery, Luo Qihong took the lead in getting to the point, "Mr. Wu, the current share price of Paramount Restaurant Company is 0.3 yuan. I am willing to pay a 1% premium to purchase your 14% Paramount Company shares. What do you think?"

Wu Wenbai picked up a piece of fish belly and put it in his mouth. He chewed it several times and said, "The fish belly here is not very good. Luosheng bought it at a 1% premium, which I think is too low. If Luosheng can pay a 100% premium, it will be about the same."

"Luo Sheng came to me instead of Xu Haizhi because he thought Xu Haizhi's asking price was too high and difficult to deal with. I'm not a greedy person, and 6 cents a share is still worth it."

Luo Qihong understood what Wu Wenbai meant and said, "6 cents is a bit high. The price is fixed at 5 cents per share, which means the premium is nearly 7%."

Wu Wenbo still shook his head. "Mr. Luo, you don't know that Xu Haizhi has many shareholders on the board of directors who are on good terms with him. If Mr. Luo doesn't hold more shares than them, it will be difficult for him to control the board of directors. And I can help you, Mr. Luo, contact those shareholders who have a bad relationship with Xu Haizhi."

Luo Qihong and Liang Botao looked at each other and both agreed that they could agree to the price. Although the price was high, it might have some effect when contacting the shareholders later. After all, Wu Wenbai had some connections with those shareholders.

"Okay! But I hope other shareholders will ask for 5 cents per share. If Mr. Wu can negotiate a lower price, the difference will belong to Mr. Wu." Luo Qihong said with a smile.

Wu Wenbo's eyes lit up slightly, and he asked, "Luo Sheng wants to acquire the equity to 49%?"

"Yes, we acquired 49%." Luo Qihong nodded.

(End of this chapter)