Hong Kong Island's New Rich Era

Chapter 61: Blocking Qingzhou Yingni
On November 11, Daya Mining was listed on the Far East Stock Exchange.

Since the newly established Daya Mining is a leading stone supplier in Hong Kong and has a certain bargaining power in stone supply, it has been sought after by shareholders.

After listing, it rose for several days in early December, and then reached 2 million and stopped moving, and then slowly fell again.

When Daya Mining announced on December 12 that it would make a tender offer to acquire Qingzhou Cement, its share price began to rise again. Yesterday, its market value had risen to HK$8 million. Investors called Daya Mining a "monster stock".

Liu Zhicheng holds 21.2% of the shares and is the second largest shareholder, with a market value of more than 6 million. After hearing the news, Liu Zhicheng laughed, saying that the shareholders were so cute.

…………

On December 12, Lidongduo announced that its client Daya Mining held 8% of Qingzhou Yingni’s shares, becoming the largest shareholder.

Entrusted by the client, we purchased Qingzhou Yingni shares in cash at a price 20% higher than the price per share until we acquired 49% of the shares.

Citizens who want to sell stocks can go to the office of Yingliduo Company in Sihui to register.

Qingzhou Yingni has been doing its old business steadily and is relatively conservative in its operations. Although it owns a lot of land, it has no real estate development plans.

When the news spread in the Sihui market, investors had different reactions. Some investors believed that Qingzhou Yingni shares would continue to rise. Investors who did not hold Qingzhou Yingni shares rushed to buy Daya Mining shares.

However, many people still decided to lock in their profits and went to the Profitable Office to register for the sale.

"Asshole." In an office building in Hung Hom, upon receiving the news, William Kane, chairman of Ching Chau Cement, slammed his fist on the table in anger.

"Mr. William." The assistant at the side stepped forward subconsciously, but he didn't know what to say. After thinking for a while, he said: "Now is the time when the company's survival is at stake. You must stay calm and stabilize the shareholders."

After a moment of hand pain, William and Kane regained their composure and said, "Convene an emergency board meeting immediately. I need to stabilize the directors first."

"Okay, I'll contact them right away." The assistant quickly stepped out.

Naturally, the directors of Seijuu Einmuth also received the news of such a big event. After receiving the meeting notice, they immediately rushed to the company to attend the board meeting.

"Ladies and gentlemen, Daya Mining has launched a hostile takeover against us. I hope you can stand on the side of the board of directors and oppose Daya Mining's hostile takeover." William Kane said directly.

"Mr. William, they are making a genuine cash acquisition, so there can't be any malicious intent." A director said with a smile.

Because these directors are all investors and each of them holds a small share of the shares, only the William family is a long-term holder of Qingzhou Yingni shares, which can be considered as ancestral property.

"Aishengla, what do you mean? Have you sold your shares to Daya Mining?" William Kane almost yelled.

"Yes, I have sold my shares to Daya Mining." Aishengla said with a laugh.

"Okay, then get out of here. This is the board of directors of Qingzhou Yingni." William roared.

After Aishengla left, the meeting finally started normally and lasted for an hour before it ended. At the same time, an announcement was issued to the public, calling on the majority of shareholders to remain calm.

1. Qingzhou Yingni does not welcome Daya Mining's acquisition. Their offer cannot fully reflect the true value of Qingzhou Yingni and is not in the interests of the majority of Qingzhou Yingni shareholders.

Second: Qingzhou Yingni has been operating for hundreds of years and has been profitable, so it does not need outside companies to intervene. Moreover, there is reason to suspect that Daya Mining is interested in Qingzhou Yingni's land, not for business. Based on the above two points, our company rejects the acquisition. If Daya Mining is optimistic about our company's stock, you are welcome to hold our stock, but please do not disrupt the stock market and cause unnecessary negative news.

"Well said." Liu Zhicheng couldn't help but say after seeing this notice at the acquisition coordination meeting: "If they have the ability to resist, why didn't they propose a counter-acquisition?"

Liu Zhicheng, Lu Zhihe, and Yingli Duo discussed it and decided to make a quick decision by raising the purchase price to 35%.

Anyway, Daya Mining's share price is rising, and some shareholders are paying for the acquisition battle, so Liu Zhicheng and Lu Zhihe are willing to make a quick decision.

After the announcement was released, Qingzhou Yingni convened another board meeting, and this time there was another big argument.

The price increased by 35%, which was so attractive that most directors began to relax and were willing to sell their shares, just waiting for someone to take the lead.

Nowadays, the Hong Kong stock market and the local market have risen sharply, but the increase in Qingzhou Yingmu's stock price has not reached the average level of the Hang Seng Index.

In this situation, there is an opportunity to cash out, and naturally some of them want to cash out and leave to invest in other industries. 35% is really tempting, and it’s in cash.

"Everyone, you have all served as directors of Qingzhou Yingmu for so many years, and you have also seen the rate of return on our stocks. The dividends every year are not small. I hope that everyone will put the overall situation first and hold our stocks for a long time."

William Kane glanced at the directors in the conference room, and seeing that the atmosphere was a little abnormal, he spoke hurriedly.

"William, we understand your feelings, but you should also know that the current return on investment of Qingzhou Yingni is not as high as that of real estate. If you were in our position, what would you do?" said another director.

When William heard a director say this, everyone's defenses began to loosen. If no effective measures were taken, it was very likely that most of the directors here would register to sell their shares as soon as they left the company.

After thinking for a while, he said, "Well, please give me a week to raise funds. If you really want to sell the stocks, please sell them to me first at the same price. How about that?"

"Are you sure you can raise funds in a week?" said someone on the board of directors.

"I believe so." William replied affirmatively.

"If Daya Mining acquires enough shares in the stock market first, what will happen to our losses?"

"So what do you want to do?" William Kane asked with a dark face.

"Our entire board of directors only holds about 49 shares. I think the shares circulating in the market will soon reach %. My idea is very simple. You can sign an agreement with us first. If you don't buy the shares we hold by the time, you have to give us enough difference to avoid our losses."

After hearing this, William was so angry that he almost vomited blood. He had to ask back: "Lawrence, why do I have to bear all the risks?"

“Because it’s you who has been asking us not to sell our shares, who else should we turn to if not you?

"I take it you don't just want to sell the stock at a high price?"

"NO." Lawrence smiled and shook his head, saying, "I had already arranged for someone to register before I came to the meeting."

　Please read on! Please read on! Please read on!!!

　　
　
(End of this chapter)