My Age of Investment

Hongkong.

49th Floor, Phase II, Central International Finance Center.

meeting room.

Xia Jingxing was receiving a group of foreign guests, headed by a white old man in his fifties.

He and the old white man sat on both sides of the long table, looking at each other.

Sitting next to Xia Jingxing were Li Ying and Yabo, and next to the old white man, there were also a few attendants in suits and leather shoes.

"Mr. Becker, I heard that you were visiting Asia and just arrived in Hong Kong, so I invited you over for a while.

Let me just say it bluntly, Vision Capital is interested in the Penguin shares held by Naspers Limited (Naspers). "

MIH Millard International Holdings Limited is a wholly-owned subsidiary of South African Press.

The real corporate body of the South African newspaper industry/South African media is the multinational media group Naspers Limited. It is a company established in 1915 and listed on the Johannesburg Stock Exchange in South Africa in September 1994.

And the white old man in front of him is the largest individual shareholder and CEO of Naspers, named Cus Becker.

Is a master!

It was this old man who approved Wang Dawei's investment in Penguin.

Hearing that the other party was in Hong Kong, Xia Jingxing immediately invited the other party to meet to see if there was any bargain.

Becker had basically guessed Xia Jingxing's purpose, and shrugged with a smile, "Mr. Xia, I can only say sorry to you, the penguins are not for sale."

Xia Jingxing completely scoffed at these words, as there are no items not for sale in the world, it's just that they can't afford the high price.

"Mr. Becker, at the beginning MIH spent more than 30 million US dollars to buy the equity held by Yingke and IDG...

Now that Penguin has been listed for more than a year, compared with the issue price of 3.7 Hong Kong dollars, the stock price has risen very little. "

Becker shook his head and laughed, "Mr. Xia, Penguin's current stock price can be maintained between 8-9 Hong Kong dollars.

How can it be said that the increase is very small? "

Xia Jingxing said indifferently, "Penguin was listed on the Hong Kong Stock Exchange in June last year, and now it has been almost a year and a half. The double share price increase is not high. Compared with the US-listed Chinese stocks, it is even worse. Far."

Becker smiled, "We are not greedy, we are already very satisfied, and we are optimistic about the development of Penguin in the long run."

"MIH originally held 50% of Penguin's equity. After listing and dilution, the remaining 37.5%. According to Penguin's current market value of 14 billion Hong Kong dollars, this equity investment has earned more than 5 billion Hong Kong dollars, and the rate of return is more than 20 times."

Xia Jingxing said with a smile, "According to the logic of venture capital, it's time to withdraw now. After all, it's venture capital, not a hedge fund."

Becker waved his hand, "Mr. Xia, you may not know about MIH. It is a wholly-owned subsidiary of Naspers. We use the company's own funds to invest and do not raise external funds, so there is no pressure to withdraw.

At the same time, we have also maintained very good communication with the Ponima team. We believe that they will definitely be able to take Penguin to a higher level and create more generous returns for shareholders. "

Xia Jingxing had a bit of a headache. In his previous life, MIH had never left Penguin for 20 years, so it was him who was so limp by talking in a few words.

Of course, it's also because Xiao Ma is too capable. Penguin's stock price has been rising steadily since it went public.

If he were a Penguin shareholder, he wouldn't have sold the golden rooster that laid eggs.

Although there are challenges from MSN, SP business being regulated, Paipai.com's development setbacks, etc., it doesn't matter, especially when the cash cow of the game business matures, Penguin's stock price has completely taken off.

"The shareholding ratio is too high, and the risk is too concentrated. For example, sell 10% or 15%, control the position, take the money to invest in some emerging technology companies, and diversify the investment risk. Perhaps it is a better choice."

Xia Jingxing looked at the old white man opposite with a smile, and said slowly, "We can buy the equity of Penguin transferred by MIH at a premium of 20% on the basis of Penguin's closing price today."

Becker shook his head, looking completely disinterested, "Mr. Xia, you don't need to persuade us anymore, we will definitely not sell Penguin equity."

"How about a 50% premium?"

Becker and Xia Jingxing looked at each other, "Mr. Xia, as the founder of Facebook, don't you want to integrate the Chinese social market?

Let Facebook and Penguin join together to become the world's largest social company? "

Xia Jingxing was stunned for a moment, he really only wanted to make money, not kill.

But because he is the founder of Facebook, it is not surprising that the old man would think so.

"That's not true. I have left Facebook now. I am just a financial shareholder. I have the same attitude towards Penguin. It is just a financial investment."

The old man didn't believe Xia Jingxing's feeble explanation, and said with a smile, "Mr. Xia, even if you pay double the premium, MIH will not sell Penguin's equity. Well, let's do it like this!"

After all, the old man got up and pointed to the cup on the table, "Thank you for the coffee!"

Then, he left the meeting room of Vision Capital with a group of followers.

"what to do?"

Li Ying looked at Xia Jingxing and asked.

"What can I do? If you can't buy it, forget it. You can call Liu Hai and ask how many Penguin shares have been bought in the secondary market?"

Xia Jingxing wasn't too disappointed, it's fine if MIH doesn't sell the shares, anyway, he has already arranged to raise funds in the secondary market.

Regardless of whether there will be a conflict of interest with Penguin in the future, there is no problem in buying Penguin stocks now, holding them for a few years, and making a lot of money.

It’s just that Penguin’s public holdings are not many. Before the listing, the Penguin team and MIH each held 50% of the shares, and 25% of the shares were issued after the listing, and then the Ponima team successively reduced a small part of their holdings.

In the broader market, less than 30% of the total share capital is held by the public.

The Lixia Fund managed by Liu Hai has bought more than 40 million shares of Penguin last year, accounting for about 2.6% of Penguin's total share capital.

After Bailu Fund was established, he arranged for Liu Hai to buy Penguin's secondary market stocks in batches in multiple accounts.

Calculating the time, almost two months have passed.

The reason for such a small amount of fundraising is also because it is afraid of causing too much market turmoil, causing Penguin's stock price to take off, and the cost of holding positions is too high.

Li Ying left the meeting room and went to make a phone call.

After a while, she came back to report: "83.83 million shares have been bought, accounting for 4.99% of Penguin's total share capital, and any more will be disclosed."

"Okay, let him disclose and continue to buy."

Li Ying hesitated for a moment, and reminded: "After the disclosure, the stock price may soar."

"It doesn't matter, as long as it doesn't exceed 20 Hong Kong dollars, you can buy as much as you can."

Li Ying nodded, "Okay, I'll tell Liu Hai right away."

…………

…………

Pengcheng.

Fiyta Building.

In a conference room.

An ashtray full of cigarette butts sits in front of a man in his thirties wearing gold-rimmed glasses.

The man stubbed out one cigarette and was about to light a second one when he was dissuaded by a naked man with slightly bald hair next to him.

"Bonny, stop smoking. It's not as serious as you think. As long as MIH is on our side, it is impossible for Envision Capital to launch a hostile takeover of Penguin.

Didn't Mr. Baker say that? Xia Jingxing was willing to pay double the premium, but he didn't even agree to sell Penguin's equity. Instead, he came to tell us the news to make us prepared.

It can be seen that MIH is on our side.

Our two parties together hold more than 70% of the shares, and the outside public holds less than 30%. Even if Vision Capital buys out all the outside shares, it will not be able to take away the control of Penguin.

On the contrary, as long as they dare to make a big move in the secondary market, the stock price will inevitably skyrocket. Then we will add more information to him and see how much money he has to sweep the goods. "

Ponima rolled his eyes, "Maybe I was thinking too much, tell me, why did Xia Jingxing miss our penguins?"

Liu Zhiping spread his hands, "Perhaps, as Mr. Becker said, he wants to build an ambitious global social empire."

"Penguins don't welcome people like him, Martin, go and arrange it!

This time we want to entertain this guest from afar! "

Liu Zhiping smiled, "Don't worry, this battle is absolutely certain. It can only be said that they made the wrong idea and wanted to pinch a persimmon, but ended up pinching a hedgehog."

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