The Wealth Empire Crossing the Hong Kong

Chapter 111 Securities Act

The acquisition of Hutchison Whampoa by Li Jianhui has caused great disturbances in Xiangjiang and even in the mainland. There were once four foreign firms, two of which have been taken over by Li Jianhui.

Some people are already thinking about who Li Jianhui will attack next, whether it is Jardine, the leader of the four major foreign companies, or Swire, which holds Cathay Pacific.

These two companies also do not have very high control over the shares of their own companies. If Li Jianhui continues to make such a strong acquisition, he may wake up one day and find that another big foreign company has changed its owner.

The Xiangjiang Exchange and the Xiangjiang government also seemed to have sensed the crisis. In order to prevent the four major foreign firms from being wiped out, the efficiency was particularly fast this time.

A bill on securities and stock market transactions was approved by the Legislative Council in just three days, formalizing the trading regulations previously drafted by the Hong Kong Stock Exchange into law.

At the same time, adjustments have been made in many places. The first is the rules on mergers and acquisitions of listed companies.

It stipulates that all institutions and individuals holding 5% of the shares of listed companies must immediately report to the Xiangjiang Exchange and make an announcement to the outside world.

Second, if the company's major shareholder transfers more than 5% of the shares, an application must be filed with the Xiangjiang Exchange, and the transaction can only be made after the approval.

Third, major shareholders of listed companies who hold more than 5% of the shares must report to the exchange three days before the reduction of shares and make an announcement to the public at the same time.

Fourth, the Xiangjiang Exchange will strictly investigate multiple accounts and serial hostile takeovers. Once found, their accounts will be banned, and their investment institutions will cancel their trading seats in the major exchanges in Xiangjiang.

The most important one is that any purchase of more than 35% of the company's shares will automatically trigger the mandatory acquisition regulations. Within [-] days, if other shareholders accept compulsory acquisitions, the triggerer must make the purchase at the highest point of the listed company's stock price within six months. acquisition.

The other few problems are not big, especially the fourth one, there are many ways to avoid it.

Only this last one basically put an end to the previous acquisition practice of Li Jianhui and Chartered King, and can protect the property of the Hongkong British consortium from being easily acquired by Chinese capital.

For example, the listed companies under Jardine Matheson and Swire Pacific cannot reach 49.9% of the shares, but 35% is still very easy. As long as they do not want to sell their own companies, it is generally impossible to be acquired.

If there is someone who runs a money printing machine and doesn't care about money, even if the stock price is at the highest point in six months, they will buy it, then they don't mind selling their shares.

Get cash that may far exceed several times the company's market value, what can you do, and there is no need to keep guarding it.

The kings of the Hong Kong-owned consortium were extremely happy in their hearts. Once this bill came out, they basically did not have to worry about the hostile takeover of them by the Chinese-funded family.

Most of the controllers of listed companies are also very happy. Those who own more than 35% of the shares don't have to worry about suddenly finding out that the company is not their own.

Shareholders of Xiangjiang and small and medium-sized investment companies are equally happy. They no longer have to worry about major shareholders of listed companies secretly reducing their holdings of shares, so that their investment can be safer.

This is a regulation of the Hong Kong stock market order. Although there are some restrictions on some people, it is a very good law for the vast majority of people, and it has greatly promoted the development of Hong Kong stock exchanges.

Li Jianhui was also pushed to the forefront because of the introduction of this securities exchange law. In the eyes of most Xiangjiang citizens, this is mainly aimed at Li Jianhui.

In this regard, Li Jianhui specially asked Jiashi to make a statement to express his own position.

Xinjian Investment Company is very willing to see the promulgation of the securities law. In the future transaction process, Xinjian Investment Company will strictly abide by the securities law, make timely reports and make timely disclosures, and shareholders are welcome to supervise.

Anyway, if this bill cannot be issued, Li Jianhui will not take any further action for the time being. After the acquisition of Hutchison Whampoa, he has almost used up the funds transferred by Lanfeng Investment Company, and he has no spare energy to acquire these large companies.

And now there are not many companies that can make him fall in love, one is Heung Kong Electric, the other is Cathay Pacific and Heung Kong Aircraft Engineering Company under Swire, the other is China Gas, and the other is Kowloon Bus.

At present, these are not very easy to acquire, and the other companies are not weak. It is not easy for Li Jianhui to take over. Kowloon Bus is Lei Juekun's company. The relationship between the two parties is good at present, and Li Jianhui is not very good at it.

As for other companies, Li Jianhui is not very interested in them. At present, the layout of several major sectors in his hands is almost the same, and there is no need to acquire similar companies.

I don't know if Li Jianhui's statement made by Jiashi made the Xiangjiang government feel that he is still on the right track. Xinjian Investment Company's application for a banking license for several months was approved the next afternoon.

This is also the fifth Hong Kong local bank license issued by MacLehose since the implementation of financial reforms. The first four were obtained by Hang Lung Group, Sun Hung Kai Securities, the Ho Family, and Lai Sun Group.

Xinjian Investment Company applied at about the same time as these companies, but it took the longest time to be reviewed. Li Jianhui knew that someone must be deliberately embarrassing him.

Fortunately, MacLehose was fairly fair to all parties in Hong Kong, and did not particularly favor the Hong Kong British-funded consortium, which enabled the rapid rise of Chinese capital.

In the office of the president of Wheelock Building, looking at Li Zaiwei with a happy face, Li Jianhui said: "The headquarters of Xinjian Bank is temporarily placed in Wheelock Building. After the funds come back next year, we will build Xinjian Building."

Li Jianhui injected the only [-] million Hong Kong dollars left in his hands into Xinjian Bank as the initial capital of Xinjian Bank.

Due to limited funds and limited management personnel, Xinjian Bank only planned five business outlets in the first batch, namely Central, Hung Hom, Tseung Kwan O, Tiu Keng Leng, and Kowloon Broadcasting Road.

As the flagship of Li Jianhui in the future, Li Jianhui himself will serve as the president of Xinjian Group, and Li Zaiwei will serve as the executive vice president of the group, managing its subsidiaries Xinjian Bank and Xinjian Investment Company.

Chen Huiya and Chen Yulian switched positions, and Chen Yulian became the general manager of the administration department of Xinjian Group and still served as his assistant.

Chen Huiya was transferred to the Wheelock Group as the general manager of the administration department of the Wheelock Group.

Li Jianhui, who has many positions, also began to let go of some positions. Huang Guangxing became the president of Huihong Group, Wang Haichuan became the vice president of the group, and Li Jianhui no longer held any positions in Huihong Group.

Li Jianhui of Jiayi Group also made Shi Shaoming the president of the group, Liu Tianci the executive vice president of the group, and Ye Jiexin the vice president of the group and the general manager of Jiashi.

As for Zhou Jiayi, Li Jianhui transferred to Hutchison Whampoa as the vice president of the group, mainly responsible for the group's administration, finance, public relations and other matters.

At the same time, he also helped him keep an eye on Hutchison Whampoa. The few vice presidents over there had not been in contact for a long time. Li Jianhui couldn't be completely relieved. Zhou Jiayi was already considered a veteran of his subordinates.

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(End of this chapter)