Chapter 943 [Countdown to WeChat’s listing]
After completing the liquidation of Shuo Shu and the mole, and cleaning up the house again, the market must continue to open, and it is impossible to directly close the market.
What to do next? How to reshape top-level design? How to restore market confidence and get back on track as soon as possible?
These issues are urgent.
This is the moment when Fang Hong makes his debut and participates in the top-level design. Because Star Capital is a heavyweight benchmark in the financial field, there is a high probability that Fang Hong will be asked to be a consultant and will definitely ask for advice. to him.
You are an expert, just tell me how to do it better. Everyone values your opinions and suggestions.
At that time, Fang Hong can naturally put forward the long-prepared solution.
…
However, in the current season, with WeChat thriving in this Spring Festival, the number of users has exceeded 700 million, and the number of users who have opened WeChat payment has easily reached more than 300 million. The capital market is really exciting.
Because many large investment institutions already know that Fang Hong has set the IPO valuation of WeChat at 400 billion. When it comes to taking care of investors in the secondary market, it can be said that the entire Big A is the only one with no semicolon. .
Fang Hong gave WeChat an IPO valuation of 400 billion. In industry terms, this is a serious underestimate.
And because of the popularity of WeChat red envelopes during the Spring Festival, various investment institutions in the capital market have unanimously recognized that the value of WeChat will be revalued. The attributes of WeChat itself as a mobile social platform are worth 500 billion, plus there is also a game business sector. It has brought strong performance growth and is also the major shareholder of Mihayou.
Now combined with the Internet financial attributes of Zhifubao, its market share in the mobile payment market is close to one-third, second only to the industry’s big brother Zhifubao. The key is that it has also shown great potential to challenge the number one Top position.
When these major attributes are superimposed on the same company, the normal valuation should definitely not be 400 billion. It must at least be doubled to be reasonable. A valuation of 800 billion is not considered an overestimation.
Because of this, during WeChat's IPO, various investment institutions were already overwhelmed, begging to get on the bus, as long as they were asked to get on the bus and be called daddy.
Other companies that want to raise funds to go public, especially those who only want to make money from going public, have to do small things and transfer profits to get financing, but companies in the Galaxy Group, especially their star-level companies like Xingyu Technology and WeChat, have to go public. After the listing, a large number of investors came to the door waving red tickets to ask for subscriptions.
You can choose and look for them at will, and you don't have to worry about not being able to raise funds. What's more, Star Capital itself doesn't have much else but a lot of money, so much that it can't be spent all.
…
As the Spring Festival holiday comes to an end, work is returning to work in various places.
On Wednesday, February 25, the A-share market also ushered in its first trading day after the holiday, and it got off to a good start. The market index closed down -0.56% that day, and the Shanghai Composite Index ended its seventh consecutive positive streak.
However, the reverse was realized on Thursday the next day. The Shanghai Stock Index rose sharply by +2.16% that day to close at 3300.26 points, regaining the 3300-point mark again.
Around 17:30 on Thursday afternoon, I stayed in the villa quietly.
"The company's decision-makers held another meeting today to discuss the IPO listing of WeChat. It is currently determined that WeChat will be listed on the Shenzhen Stock Exchange main board, with an IPO valuation of 400 billion yuan, a total share capital of 22 billion shares, an issue price of 18.18 yuan per share, and initial financing. 60 billion yuan, issuing 3.3 billion additional shares, accounting for 15% of the total share capital." Tian Jiayi was reporting to Fang Hong the minutes of the meeting of Star Capital executives on the WeChat IPO.
The listing of WeChat will undoubtedly add a giant listed company to Big A. Not surprisingly, its IPO scale will be the largest financing in the A-share market in 2015, and it will also rank among the top five IPOs in the history of the A-share market.
The top five IPO listed companies in the history of Big A are Xingyu Technology, the only one with an IPO of over 70 billion, the second is Nongxing with 68.5 billion, the third is Zhong Petroleum with 66.8 billion, the fourth is Shenhua with 66.5 billion, and the fifth is about to go public WeChat 60 billion.
Speaking of which, when WeChat is listed on Big A, whether it is listed on the Shanghai main board or the Shenzhen main board, there has been competition between the Shanghai and Shenzhen stock markets.
Logically speaking, such super large-cap stocks will usually choose to be listed on the Shanghai stock market, but judging from the current results, it is obvious that they will be listed on the Shenzhen stock market. On the one hand, the Shenzhen stock market is not very popular at the moment, and the liquidity is relatively poor compared to the Shanghai stock market. The trading volume It is also far inferior to the Shanghai Main Board, and it also lacks the big guys who can control the market.
On the other hand, there are already a lot of big players on the Shanghai Stock Exchange Main Board next door. Xingyu Technology is listed on the Shanghai Stock Exchange Main Board, Zhong Petroleum is also on the Shanghai Stock Exchange Main Board, and the super heavyweight stocks of major financial leaders are also on the Shanghai Stock Exchange Main Board.
Fang Hong knows that in a few years, the trading volume and activity of the Shenzhen stock market will exceed that of the Shanghai stock market. When this happens, one of the more important factors is the Shanghai stock market's supervision of the market. Those with high emotional intelligence are said to be too flexible, such as , If you say close the small dark room, close the small dark room.
This turns what should have been a capital game within the market into a game between investors and the village, and what do you think I will do next? There seemed to be no set rules, and it was impossible to play with it. Gradually, hot money and short-term players, the most active players in the market, expressed their disdain for tickets starting with 600.
But the funds themselves will find a way out, so they turn to speculating on stocks starting with 000 in the Shenzhen Stock Exchange, because relatively speaking, the Shenzhen Stock Exchange will not deal with it so casually even if it wants to close a black room for a hotly speculated stock. A certain mechanism must be triggered before execution, and things should be done according to the rules. This will reduce the uncertainty of the variable for the funds, and naturally people will prefer to play in the Shenzhen market.
But at this moment, Tian Jiayi looked at Fang Hong and said: "There are 673 investment institutions participating in the subscription this time, with an excess of 240 billion raised. Currently, 232 institutions have been confirmed to be on board."
It plans to raise 60 billion yuan, and 240 billion yuan of funds are rushing to get on board, which shows how popular it is.
Tian Jiayi added: "In addition, the specific date for WeChat's listing has not been finalized at the meeting. The original plan was in June as you said, but Cathay Pacific Jun'an, a securities firm, also went public in June, and the financing scale is also huge. Shi Yao and the others discuss whether it would be better to stagger the launch? Let’s move it one month in advance or delay it by one month, or we can talk to Cathay Pacific Junan and ask them to go public in advance or delay it.”
Fang Hong immediately asked: "Has the specific listing date of Cathay Pacific Junan been finalized? How much is the initial financing?"
Hearing this, Tian Jiayi said: "The details are unknown, but the relevant information we have obtained infers that it is most likely to be in late June. As for the initial fundraising, it is said to be close to 30 billion. If both companies are listed in June, the total will reach 90 billion. The market may not be able to bear the scale of financing.”
Fang Hong smiled in his heart when he heard this. Can't he bear it? That’s right, let WeChat choose this day in June, which is the time window for the big A’s leveraged bull market to peak and go down. When the entire market is falling violently, WeChat and all its galaxies will be listed. Subsidiaries bucked the trend and supported the market.
Finally, Fang Hong immediately made the decision: “Don’t worry, since Cathay Pacific will be listed in late June, then we will let WeChat land on the A-share market in early June, and the specific date will be Friday, June 5th. "
...(End of chapter)
