The Wealth Empire Crossing the Hong Kong

Chapter 120 Xiangjiang Exchange
When everyone thought the situation was about to calm down, Wheelock Group held a press conference.

Announced that its subsidiary Wheelock Land will be split from the group and become an independent company, and will complete asset evaluation and independent listing preparations within three months. It is expected to be listed on the Far East Exchange in June and become a listed company controlled by Wheelock Group.

Xiangjiang currently has four major exchanges, and the leader is undoubtedly Xiangjiang Exchange, which is also an exchange controlled by British capital.

The second place is the Far East Exchange, which was established by the Xiangjiang Li Guanchun family, and many Chinese-funded enterprises in Xiangjiang are listed on this exchange.

Although the strength is far from being comparable to that of Xiangjiang Exchange, the momentum of development is extremely strong, especially the rise of Xiangjiang Huazi in recent years, which has greatly improved the strength of Far East Exchange.

At present, the exchange has many well-known Chinese-owned enterprises such as Bank of East Asia, Chinese Land, Zhouxing Real Estate, Hopewell Industrial, Wantai Garment, Sun Hung Kai Properties, Lai Sun Garment, Cheung Kong Industrial, Guanghua Construction Industry, and Jiulong Jianye.

Now, Wheelock Group, one of the leading companies on the Xiangjiang Exchange, is going to spin off Wheelock Land, one of its main assets, and list it on the Far East Exchange. This is a considerable blow to the Hong Kong Exchange.

The outside world thinks that this is the expression of dissatisfaction of the Xinjian Department with the Heung Kong Exchange. I am afraid that Wheelock Land is only the first step in the operation of the Xinjian Department. I am afraid that more companies will be split and listed on the Far East Exchange in the future.

Jason Wallace, chairman of Heung Kong Exchange, personally called Li Jianhui and introduced the advantages of Heung Kong Exchange over Far East Exchange. listed.

"Mr. Wallace, recently I feel that the Hong Kong Exchange is very unfriendly to Chinese capital, and to a certain extent it has become the representative of the interests of the Hong Kong British Capital Group, which makes me feel very insecure.

Wheelock Land is an industry that I am very interested in. I think it would be better for it to be listed on the Far East Exchange, at least it will not specifically target my compatriots there. "

"Li Sheng may have some misunderstandings about our exchange, and our exchange will definitely not favor any capital or enterprise.

As for the previous investigation, we also cooperated with the Monetary Authority. Our exchange itself has no intention of targeting Xinjian Investment Company.

Our exchange has the most trading seats in Xiangjiang, the largest shareholder base, the largest trading market value in Xiangjiang, and the most active trading volume in Xiangjiang.

Wheelock Group is a listed company on the Hong Kong Stock Exchange. It is most beneficial for the split Wheelock Land to be listed on the Hong Kong Stock Exchange. I also hope that Li Sheng can think more about it. The Far East Exchange is not a good place for Wheelock Land to be listed. . "

If it was just Jason Wallace of Wheelock Land, he would not be so nervous. He is worried that with Li Jianhui taking the lead, these companies on the Hong Kong Stock Exchange will play this trick one after another. Through splitting and listing, all companies will be transferred to Far East Trading where to go.

In particular, Li Jianhui has two major groups, Wheelock and Hutchison Whampoa, with dozens of subsidiaries. There are not a few companies with the strength to go public. There will only be some empty shells left on the Xiangjiang Exchange.

It's a pity that Li Jianhui didn't take this approach. He told Wallace directly that the decision on Wheelock Land's split and listing on the Far East Exchange had been made and would not change.

As for whether Xiangjiang Exchange favors Hong Kong British-funded enterprises, it is not up to the two of them. The millions of citizens in Hong Kong are sharp-eyed, and everyone has a steelyard in their hearts. The rapid development of Far East Exchange in the past few years cannot deceive anyone.

After hanging up the phone, Jason Wallace immediately convened a meeting of the management of the exchange to discuss how to eliminate the impact of Wheelock Land's listing on the Far East Exchange.

As the earliest established exchange in Xiangjiang and the strongest exchange in Xiangjiang, these high-level executives are absolutely unwilling to see the Far East Exchange climb over their heads.

Since Li Jianhui is determined to let Wheelock Land be listed on the Far East Exchange, they also have to offer some benefits to offset the impact of Wheelock Land on the Hongkong Exchange.

One of the top executives said: "The troubles of our exchange this time can be said to be entirely caused by Jardine Matheson, HSBC, Swire, etc. Since Li Jianhui wants to split, Jardine Swire can also do the same.

In particular, Wellcome Retail under Jardine Matheson, Heung Kong International Milk Company, and Cathay Pacific Airways under Swire. The splitting and listing of these companies is a great benefit to our exchange. "

In addition, some high-level executives mentioned that they could attract more small and medium-sized companies to come to the Hong Kong Stock Exchange for listing, and some standards could even be lowered for this purpose.

Some executives also said that the current Chinese-funded enterprises in Hong Kong are rising rapidly, and the Hong Kong Exchange must change some of its traditional thinking so that Chinese-funded enterprises can trust the Hong Kong Exchange and are willing to choose to list on the Hong Kong Exchange.

Before, they relied on the leading British companies to take advantage, but the situation has changed a lot in the past two years. Chinese companies are becoming more and more powerful, while Hong Kong’s British companies are constantly withdrawing from the Hong Kong market.

If Xiangjiang Exchange still cannot come up with some plans that can attract Chinese-funded enterprises, it is not impossible to be surpassed by Far East Exchange in the future.

Jason Wallace said in a deep voice: "Currently we are taking two steps, one is to communicate with Jardine Matheson and Swire, and let them split and list some of their subsidiaries as much as possible.

In addition, when it comes to attracting potential companies to go public, we can no longer be arrogant and wait for others to take the initiative to come to our door.

Our relevant departments must take the initiative to attack those companies with potential. We can actively connect with them, and we must not let Li Fuzhao all be brought to the Far East Exchange. "

At the same time, Xiangjiang Exchange is also preparing to make some adjustments in terms of listing and follow-up fees. They are going to bring the price to the same level as Far East Exchange, and will not give Far East Exchange the opportunity to make a price difference with them.

Before Xiangjiang Exchange could make a move, Dao Heng Bank also announced that it planned to enter the Far East Exchange within this year.

At the same time, there is news from Hutchison Whampoa that Hutchison Real Estate will be re-split and plans to be listed on the Far East Exchange within this year.

Henderson Land also came out to join in the fun at this time, announcing its listing plan, and the exchange also chose the Far East Exchange.

All of a sudden, the public opinion of Xiangjiang Exchange came and went, and it seemed that the largest exchange in Xiangjiang would be put on the head of the Far East Exchange.

Successive bad news made Jason Wallace smash his teacup, and besides anger, he was more worried about the future of Hong Kong Exchange.

He is well aware of the influence of the Hong Kong Chinese-funded enterprises united, even if it is only a part of the Chinese-funded giants, it will be a major blow to the Hong Kong Exchange.

The Bank of East Asia, Xinjian, and Sun Hung Kai are all among the top forces in Hong Kong.

Once the three parties form an alliance, it will be enough to shock Xiangjiang, not to mention Xiangjiang Exchange, even MacLehose will have a headache when facing it.

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(End of this chapter)