The Wealth Empire Crossing the Hong Kong

Chapter 277

In Conference Hall 203 of the Peninsula Hotel, several parties argued for two and a half hours. Even if the financial management bureau supported the merger of the three, they still could not shake the positions of Li Fuzhao, Chartered Ship King, Feng Jingxi, Zheng Yutong, Li Jianhui, Li Zhaoji, Qiu Degen and others.

Originally, I thought it would be fine like this, but I didn't expect that Xiangjiang United Trading made another request that shocked Li Jianhui and others.

All listed companies on the three major exchanges will re-select the exchange, and the stock price of the exchange will remain unchanged without any cost.

Li Fuzhao immediately objected. If this is really the case, the Far East Exchange will be hit hard. Far East Exchange.

Even if Wheelock Holdings, Whampoa Holdings, and Kowloon Bus return to the Far East Exchange, they still cannot make up for the lost losses.

But this proposal moved the charter king, Li Zhaoji, Zheng Yutong and others. The current strength of the Kowloon Exchange is far from being able to compete with the Hong Kong Stock Exchange and the Far East Exchange.

If this adjustment is achieved, a large number of outstanding companies such as Wharf, China Gas, Global Shipping, Sun Hung Kai, and Henderson will come to the Kowloon Exchange. Even if they cannot surpass the Far East Exchange, the gap between the two sides will not be too large.

Because of interests, these people obviously don't care about Li Fuzhao's opinion, and they have spoken out in agreement with this decision, and proposed to complete this adjustment by the end of September, and re-determine the Hang Seng Index, East Asia Index, Kowloon Index, and major indexes on October 10. constituents.

The person in charge of the HKMA said with a smile: "Mr. Li Fuzhao, Mr. Li Jianhui, Mr. Lei Juekun, Mr. Feng Jingyao, to use the old Chinese saying, a twisted melon is not sweet. I wonder if you still have different views on this?"

Li Jianhui and the others knew that they would have no possibility of rejecting Shen Bi's suggestion. Apart from being detrimental to the Far East Exchange, this matter would be beneficial to all other parties.

Although the Hong Kong Stock Exchange will have fewer companies, it will greatly weaken the strength of the Far East Exchange. In the short term, the leading position of the Hong Kong Stock Exchange will not be shaken, allowing the Far East Exchange and Kowloon Exchange to fight each other.

"Since everyone thinks this is better, we at the Far East Exchange naturally have no objections. We also hope that the HKMA will treat our Far East Exchange and listed companies in a fair and just manner in the future."

Seeing that Li Jianhui agreed with this decision, smiles appeared on the faces present. Regardless of the 40% shares held by the East Asia Li family, as long as Li Jianhui expresses his opinion, he can represent the final opinion of the Far East Exchange.

Chartered Ship King and others were quite happy in their hearts. They did not expect such a surprise this time. Starting next month, their total market value in Kowloon is expected to compete with the total market value in East Asia.

Although Lee Kin Fai’s Wheelock Land, Whampoa Holdings, Wheelock Holdings, Lane Crawford, Whampoa Shipping, Hutchison Land, and Watsons all have a market capitalization of more than [-] billion Hong Kong dollars, they are listed on the Kowloon Exchange. The large number is enough to offset the market value of the major listed companies in the Xinjian Department.

……

That night, in the private room of Xinhui Hotel, Li Fuzhao sighed: "I originally hoped that the Far East Exchange could catch up with Xiangjiang Exchange and become the largest exchange in Xiangjiang. I’m afraid it’s hard to wait until this day.”

No wonder he is pessimistic. The predecessor of the Xiangjiang United Exchange, the Xiangjiang Exchange, is already strong. Now that the Gold and Silver Exchange and the Xiangjiang Futures Exchange have been merged, its strength has increased significantly.

The strength of the Far East Exchange has not increased this time, but will be greatly weakened. If it were not for the support of several major listed companies in the Xinjian Department, even the Far East Exchange would not be able to compare.

It is no exaggeration to say that after this merger, the total market value of the top ten listed companies in the Xinjian Department will reach more than half of the market value of the Far East Exchange.

Li Jianhui said with a smile: "Second uncle is too worried. In the future, Far East Exchange will focus on attracting high-tech industries, especially semiconductors and computer hardware and software industries in Hong Kong, so that Far East Exchange can become Asia's NASDAQ."

This is just the key direction of the development of the Far East Exchange, and it does not mean that the Far East Exchange does not accept other companies to be listed, and companies in other industries can also be listed here.

However, the Far East Exchange has specially created a new section, which is mainly for semiconductor, Internet, computer hardware and software companies to list. The listing conditions here are also different from the regulations of the Far East Exchange, and the threshold will be lower than that of the Far East Exchange main board.

To be listed on the main board of the Far East Exchange, although the establishment time of the company is not as required by the Xiangjiang Exchange, it must be three years. Although the threshold of the Far East Exchange is lower, it must be at least one year, and the company’s market value must reach more than [-] million, and the annual profit must break through. million Hong Kong dollars.

Such requirements have caused countless companies that want to go public quickly, especially those companies in the new technology industry, to invest a lot of money in research and development every year. It is normal to lose money in the first three to five years, and they simply cannot reach the listing threshold.

After the opening of the new section, it provides a convenient channel for these companies to go public for financing, allowing some companies with potential to obtain financing through the market in the early stage.

The other is to increase efforts to attract outstanding companies from Taiwan and Southeast Asia to list on the Far East Exchange, making the Far East Exchange the first choice for companies in Greater China and Southeast Asia to list.

Now the Far East Exchange has taken the lead, especially the agreement reached between the Far East Exchange and the Taipei Exchange, which allows companies listed on both parties to conduct secondary listings on the other side in the form of global depositary receipts.

At present, the common international practice is used to issue global depositary receipts to ensure that these companies can be successfully listed on other exchanges.

This is only the first step in the development of the Far East Exchange. In the future, it will cooperate with the Kuala Lumpur Exchange, the Kingdom of Thailand Exchange, the London Exchange, the Singapore Exchange, the Bermuda Exchange, the Tokyo Exchange, and the Korea Exchange. .

As for the U.S. exchange, don’t think about it there. Even if you cooperate with it, you can only use American depositary receipts, and global depositary receipts cannot be listed in the United States.

Due to their strength, Li Jianhui and others have never thought of issuing depositary receipts by themselves. They mainly rely on the current system, mainly global depositary receipts. The secondary listing comes here in the form of American Depositary Receipts.

As for the current loss of a large number of listed companies in the Far East Exchange, it can only bear the pain temporarily. After the outstanding companies from Baodao start to list next month, the strength of the Far East Exchange will increase significantly.

Moreover, some enterprises under Li Jianhui will be listed again, such as IKEA Convenience Store, E-Go Appliances, E-Go Group, etc. Xinhui Hotel under Xinhui Holdings will also be listed on the Far East Exchange.

As for industries such as Haojiang Tourism and Entertainment Company and Xinhui Group, due to their own industrial reasons, there is no plan to go public.

Xiangjiang Airlines, Jingyi Electric Appliances, Hongyu Clothing, etc. have a relatively short period of time, and it will take a few years before they want to go public.

Li Fuzhao knew that Li Jianhui had done his best to help the development of the Far East Exchange, and he could not rely entirely on Li Jianhui. In the future, he needed to attract more outstanding companies to come to the market to make the Far East Exchange a bigger market.

(End of this chapter)