Chapter 2223 Backdoor listing

Zhou Buqi immediately understood what he meant, "Backdoor listing?"

Carl Icahn said: "This is the best solution."

This old guy has been used to being a hawk all his life.

Always try to speculate on other people's thoughts with the greatest malice.

Ziweixing International is not a listed company, which means it is a closed company and does not need to be responsible to the public. Even some small shareholders do not matter.

Not being listed on the market means it is a black box operation.

There will be all kinds of tricks in it.

For example, Dell is delisting.

Why must it be delisted?

Because the company is delisted, Dell can operate in a black box, and does not need to be responsible to the public. It can be both overt and covert, real and fake, and quickly promote the company's transformation.

In the previous life, Dell made more than ten times the profit in just a few years through delisting and listing.

Once Ziweixing International acquires 100% of Yahoo and delists Yahoo... even if it adopts a stock swap method to exchange all the shares of Yahoo shareholders into Ziweixing International's stocks, there will still be many problems. Large uncontrollable risks.

This company is not listed.

This means that many unconventional means can be used.

Yahoo's capital institutions, headed by Carl Icahn, would be embarrassed if they held shares of Ziweixing International. If boss Zhou is ruthless, he can squeeze all the stocks in the hands of these investors.

For example, launch an "employee incentive plan."

The company has targeted the expansion of 1 billion shares. Each employee can purchase the company's stock at a price of US$1 per share, but the employer cannot buy it. As a result, the company's total equity doubled, the capital's stock share shrank by half, and all the wealth went to the entrepreneurial team and employees.

The employer will suffer heavy losses.

If it is a listed company, it is different.

The significance of a listed company is to eliminate black box operations, be open and transparent to the whole society, and be responsible not only to all shareholders, but also to the whole society.

Even if some decisions are in the interests of all shareholders but not in the interests of society, that’s not okay!

For example, Yahoo’s current CEO Thompson.

His abilities are outstanding.

After a few months, I have been doing very well at Yahoo, and my report card is excellent!

In other words, letting him be the CEO will be in the interest of all Yahoo shareholders.

But once it becomes public that he has falsified his academic qualifications, this will no longer be possible.

Even if he is extremely talented and allowing him to continue to be Yahoo's CEO would be in line with the shareholders' reasons, his forgery of academic qualifications is suspected of breaking the law and violating social ethics, which harms the interests of the public and society.

He must step down.

In China, the gap between listed companies and unlisted companies is actually not that big, because even listed companies cannot or are not allowed to disclose a lot of information.

This is not the case in the United States. The logic of listed companies and unlisted companies is completely different.

As a capitalized society, even if many large companies in the United States are very profitable, even if they are involved in military industry, aerospace, and nuclear energy, even if they do not need to be listed for financing... the government will urge these companies to go public.

After being listed, it becomes a social company and can be supervised by the whole people, making it difficult to conduct black box operations.

This is also the reason why Carl Icahn insisted on staying public in the Yahoo case.

He would feel at ease only if it was a listed company.

This little Zhou is the richest man in the world at such a young age. He is not an ordinary good guy. However, you cannot have 100% trust in him. The most important thing is to be on self-defense and protect your own interests.

Zhou Buqi has no intention of cheating Carl Icahn, at least he won't cheat him by holding a knife to see the red. The old man's worries are actually completely unnecessary, "Ziweixing International has no plans to go public for the time being."

Carl Icahn shook his head, "Then it may be difficult to push this matter forward. I finally found an opportunity to get out of Yahoo, and it is impossible to fall into another trap."

Zhou Buqi said with a smile: "Ziweixing International is not a trap!"

Carl Icahn said calmly: "If it doesn't go public, the stock will have no meaning. I can't explain it to my investors."

Zhou Buqi didn't believe this reason and was still fighting for it, "According to our established plan, Ziweixing International will be listed in two years."

"Really?"

Carl Icahn half-smiled.

Zhou Buqi was helpless, "It's true!"

Carl Icahn: "I'm not interested in long-term investing."

"All right!"

Zhou Buqi accepted his statement. This was indeed his general logic for investing.

Carl Icahn smiled and said: "It's great to have a backdoor listing. It's also in your interests. The cost can be lower. By replacing the shares of the capital and entrepreneurial team, those retail investors don't have to care."

Zhou Buqi glanced at him and said, "Is this the only way?"

Carl Icahn said firmly: "That's the only way! This is not what I mean, it is what we all mean... You know who I am talking about."

"Um."

Zhou Buqi nodded.

Within Yahoo, Carl Icahn is considered the mainstay of the employer faction. In 2008, he joined Yahoo's board of directors, but later he quit without working for Yang Zhiyuan.

But he is not a good person.

He exited and his friends entered more.

Originally, within Yahoo, the entrepreneurial team firmly held the initiative; after he had been working behind the scenes for a few years, the situation was completely reversed, and Yang Zhiyuan was out.

If Zhou Buqi hadn't seized the opportunity to jump out and "pick peaches" this time, the entrepreneurial team headed by Yang Zhiyuan would have all been eliminated along with CEO Thompson, who forged academic qualifications.

Yahoo was like this in its previous life.

Although there were some changes, the entrepreneurial team also put forward some conditions before being eliminated. The management agreed in order to completely eliminate them.

But within a few years, management had had enough.

He split up Yahoo's assets and began to sell them one after another. Carl Icahn's big plan finally succeeded, completing the dismemberment of a generation of Internet giant Yahoo.

Carl Icahn smiled and said: "If you want your plan to be implemented, not only do you need the approval of your employer, but Yang Zhiyuan and others also need to agree. For the backdoor listing plan, not only will we agree, but we can also get their approval as quickly as possible." "

Zhou Buqi was relatively indifferent to this, "Yang Zhiyuan is an independent director of Ziweixing International. We have a very good relationship. I have a hundred ways to convince him."

Carl Icahn said: "But this is the best way! I have played against Yang Zhiyuan over the years, and I know this person very well. He doesn't care about money, what he cares about is personal reputation, and he doesn't want to bear the reputation of selling his sons and daughters. His dignity is more important than anything else. If Ziweixing International acquires 100% of Yahoo, wouldn't it still be selling children? This is no different from the thinking of many capital institutions in the past few years."

Zhou Buqi was silent.

Carl Icahn smiled and said, "It would be different if we go public through a backdoor merger... If we only look at the results, you can even give up your greatest dignity to Yang Zhiyuan. You get interests and power, and he gets dignity and decency."

Zhou Buqi understood what he meant immediately.

This is a common routine in capital operations.

The so-called backdoor listing means that after Ziweixing International bought Yahoo, it injected all its own assets into Yahoo, and then completed the listing of Ziweixing International in disguise.

Like IPO listing, backdoor listing is also a very common listing idea.

It has the largest number of A-share listed companies in the world.

Many rubbish companies actually have no assets at all. They just relied on the operation of related parties to complete the listing.

After it went on the market, it was just a matter of waiting.

Some companies are doing very well, but they really can't get approval for listing. It doesn't matter if they don't have channels... At this time, you can buy shells from those related households.

Spend hundreds of millions or billions to buy the empty shell of other people's listed companies, inject your own company's assets into it, and then complete the listing.

However, these are all shady tricks.

What Carl Icahn is talking about is truly heavyweight capital operation, and it is very telling in the process of backdoor listing.

Ziweixing International completed its listing through its merger with Yahoo.

Then here comes the problem.

In this merger process, who bought whom?

If Ziweixing International buys Yahoo, the transaction will be more difficult. For Yang Zhiyuan's founding team, it will be selling their sons and daughters, which will hurt their face.

It would be great if Yahoo acquired Ziweixing International.

The founding team headed by Yang Zhiyuan will receive huge honors.

Of course, after the merger of the two parties, the decision-making power will definitely still fall in the hands of the Ziweixing International team headed by Zhou Buqi... But it doesn't matter, Yang Zhiyuan and the others have gained a good reputation.

If Zhou Buqi was willing to put aside his dignity, give Yang Zhiyuan face, and admit that Yahoo acquired Ziweixing International, it would be too easy to promote the deal.

All differences are resolved.

Carl Icahn also hoped that this matter could be resolved quickly, so he made a suggestion, "If I had to choose, I would definitely focus on getting benefits. Giving face to others will earn you the greatest benefit, and there is nothing better than this. A better deal?”

Zhou Buqi smiled and said, "Karl, your language is really penetrating!"

Carl Icahn laughed, "How was it?"

Zhou Buqi did not respond immediately, "Wait for my news!"

Carl Icahn smiled and said, "Okay."

Zhou Buqi said: "By the way, let's go to the theater tonight. You must come and experience our country's cultural treasures!"

…

In the evening, you can go to the theater.

Zhou Buqi is quite looking forward to it.

Unfortunately, the child was still young, and Ning Yameng couldn't bear to leave it to the care of a foreign nanny, so she stayed at home.

Zhou Buqi was accompanied by Ning Lu, Li Xinwan and Jiang Bingjie, and he also called Carl Icahn, Don Mattrick and others to go to the Empire Theater together.

Ho!

Crowds of people!