Reborn in Hong Kong as a Tycoon

Chapter 279 Property Acquisition Completion
The next day is Friday, the last trading day for the exchange this week.

Hong Kong Electric, which suspended trading for a day yesterday, saw its stock price rise sharply during today's call auction.

Not to mention the stockholders and the market are optimistic about the future development prospects of HK Electric after Lin Baicheng took over. The fact that the private placement stock price is 3.7% higher than Wednesday's closing price of 10 Hong Kong dollars is enough to make HK Electric's stock price rise.

After the call auction ended, Hong Kong Electric's stock price opened at HK$4.24, an increase of about 14.6% from the previous trading day.

After 09:30, the share price of HK Electric continued to rise and rose rapidly.However, the total number of shares of Hongkong Electric reached 13.1 billion shares, and when the stock price reached 4 Hong Kong dollars, the total market value exceeded 50 billion Hong Kong dollars, so the speed of the increase was not too fast.

After ten o'clock, the share price of Hong Kong Electric reached 4.5 Hong Kong dollars, then fluctuated for a while, and then rose again, sprinting towards the price of 5 Hong Kong dollars.

However, the benefits of Hong Kong Electric this time are actually limited.It’s just that Lin Baicheng became the owner of Hong Kong Electric. With Hutchison Whampoa as a benchmark, shareholders have more room for imagination about the stock price of Hong Kong Electric, and there is no great benefit that has been realized.

Therefore, the stock price of Hong Kong Electric did not touch the price of 5 Hong Kong dollars. As the stock price got closer to the price of 5 Hong Kong dollars, the selling orders became stronger, and finally fell back at the high level of 4.94 Hong Kong dollars, and the decline was corrected.

After the stock price fell back to around 4.5 Hong Kong dollars, it stabilized and fluctuated. The increase of this price on the day was only a little more than 20%.After all, Lin Baicheng's entry into HK Electric is good for the market, so the rise is a trend, and a 20% increase is acceptable to many people, so it is stable around this price.

Regardless of the fact that Hong Kong Electric's increase is only about 20%, but based on the market value of Hong Kong Electric's closing market of less than 50 billion Hong Kong dollars on the last trading day, the total market value has increased by about 10 billion Hong Kong dollars, reaching nearly 60 billion Hong Kong dollars.

Today's stock price trend of Hong Kong Electric has nothing to do with Lin Baicheng, unless the stock price of Hong Kong Electric has skyrocketed or plummeted today, then he will take action.If the price rises sharply, he will sell some stocks, and if the price drops sharply, he will continue to increase his holdings.

Now that it has risen slightly by about 20%, Lin Baicheng is not going to increase his holdings for the time being.After all, his current shareholding ratio has reached 38.93%. Not surprisingly, no one can threaten his control over Hong Kong Electric, and there is no need to rush to increase its holdings of Hong Kong Electric.

After the good hype is over and HK Electric's stock price falls back, Lin Baicheng will continue to increase his holdings, and it will not be too late to increase his shareholding ratio, which can save a lot of money.

At the end of the morning session, HK Electric closed at HK$4.62, an increase of 24.86% on the day, and its total market value reached about HK$60.5 billion.

However, during the lunch break at noon, the announcement issued by Hutchison Whampoa attracted the attention of many people.

Hutchison Whampoa acquired the ownership of Golden Gate Building from Jardine Matheson for HK$6.1 million, the ownership of Federal Building and International Building from Wheelock for HK$8.85 million, and Pearl City for HK$4.8 million Ownership of the building.

Emerald Pearl Plaza is a shopping mall in Causeway Bay. It is covered with three residential buildings with a total height of hundreds of meters and a total of 34 floors. They are collectively called Pearl City Building. The famous Emerald Pearl Theater under Shaw Brothers here.

It stands to reason that with the scale of Emerald Pearl Plaza, it is impossible to sell less than 5 million Hong Kong dollars, but who knows that many properties here have already been sold.For example, Shaw Brothers' Emerald Pearl Theater has been purchased by Shaw Brothers, and with the addition of some other houses that have been sold, the price will naturally drop a lot.

In addition to these relatively well-known properties, Hutchison Whampoa also acquired several high-end office buildings and other properties at a price of 6.45 million Hong Kong dollars in the announcement.

Adding up all the properties, Hutchison Whampoa spent a total of 26.2 billion Hong Kong dollars on the acquisition of the properties this time. All funds were borrowed from HSBC and Standard Chartered Bank, which would not affect the company's daily operations.

In the announcement of Hutchison Whampoa, it also stated that the reason for spending so much money to acquire properties is to be optimistic about the future economic development of Heung Kong. These acquired properties are used for investment and will definitely bring considerable returns to all shareholders in the future.

The announcement of Hutchison Whampoa had a great impact, after all, it was a real 26.2 billion Hong Kong dollars.

The stock market was the first to be affected. When the market opened in the afternoon, the stock prices of companies such as Jardine Matheson and Wheelock rose considerably. After all, these companies have obtained a large amount of funds through the sale of properties, which is considered a good news.

The stock price of Hutchison Whampoa has not changed much, and it is in shock.After all, Hutchison Whampoa spends money on acquisitions for investment. In the case of uncertainty about whether the investment will be profitable or not, the content of the announcement is neither good nor bad for the company.

In addition, real estate companies such as Cangjiang Industrial have also benefited, and their stock prices have risen considerably. The entire real estate sector has also risen sharply, directly driving the Hang Seng Index.

The reason why the entire real estate sector is rising is because since Hutchison Whampoa spent HK$26.2 billion to acquire properties, the property market price will definitely rise, and housing prices will follow suit. Of course, the stock prices of companies related to real estate development will rise a wave up.

Stock speculation is based on expectations and imagination. Now that there is such a good news, the entire real estate sector will naturally be hyped by funds.

"Boss Lin, the property contract is all here."

Lin Baicheng, who works in Hutchison Whampoa, took the document from Qin Lan and read it.

Hutchison Whampoa acquired properties with many companies this time. Of course, it is impossible for such a coincidence to complete the transaction today. The earliest transaction was completed more than ten days ago. However, Hutchison Whampoa signed a confidentiality contract with the other company. Note that Whampoa cannot announce the details of the acquisition before it is announced to the public.

The reason for this is to avoid raising the property market price and increasing the acquisition cost.

As of yesterday, all the acquisition targets had completed the transfer transactions, and Hutchison Whampoa made an announcement at noon.

Lin Baicheng just browsed roughly, he has seen everything that should be seen, he has a relatively clear understanding of properties such as Jinmen Building, and at the same time, he also knows that the purchase price has not exceeded the bottom line set by the previous management, and is even different from the bottom price. The small gap excludes the possibility of someone leaking the secret, so he only needs to browse for a while.

After Hutchison Whampoa completed the property acquisition, it will no longer invest in the property, but Lin Baicheng asked Wei Li and the others to find a bus company, preferably the largest Kowloon bus company in Xiangjiang.

The purpose of acquiring a bus company is not to make money. The bus company does not have much land, but the bus company is also a public utility with stable profits and cannot lose money after the acquisition.

The most important thing is that after acquiring the bus company, the real estate developed by Hutchison Whampoa can allow the bus company to open a special line at the first time, making the transportation of the real estate location more convenient.This may cause the bus company to make a small loss, but if the real estate price increases a little because of the convenience of transportation, all the losses can be easily recovered.

(End of this chapter)