Video Game Empire

After two months of negotiations, LH Funds reached an agreement with American Express to acquire Hillson-Lehman for $3.7 billion. Although this is more than the transaction needs to go through the Federal Reserve and the Committee on Foreign Investment - the review, can really settle.

However, mainstream public opinion in the United States does not believe that Li Xuan's ownership of Hilson-Lehman will pose any threat to the United States. On the contrary, many financial experts believe that Li Xuan jumped into a quagmire, and the world's richest man made a stupid decision! On the contrary, the sports company's stock price rose for three consecutive days because it exchanged $3.7 billion in cash.

In this case, the probability of the acquisition being blocked by U.S. officials is very small. At the same time, Li Xuan made a cash offer of up to US$1 billion for Blackstone, which also received positive responses from most shareholders. Peterson, Schwarzman, and Fink have all responded affirmatively to Li Xuan, and they will take up their new positions when the entire acquisition is settled.

Add in the $3 billion pledged for the trio, and the various additional expenses required for the entire acquisition, and Li Xuan has nearly $8 billion in cash in one sitting. In addition to the $6 billion in credit previously raised through the five largest U.S. banks, and the $500 million in credit from Jiahua Bank, there is a $1.5 billion shortfall.

The money will be raised by issuing corporate bonds in the U.S. capital market in the name of Orient Holdings. Orient Holdings is the main holding company under Li Xuan's name, holding the equity of a large number of high-quality enterprises such as Orient Games, Orient Research Institute, Orient Semiconductor, CG Company, and Jiahua Bank on his behalf.

With the assets it currently controls, if it issues a mere $1.5 billion bond, whether it is Moody's, HP, or Standard & Poor's, it will definitely give it an AAA rating, and it will be met by all investment institutions when it is listed for the first time. robbery. This is also the first big gift that Li Xuan gave after purchasing Hilson-Lehman. After all, the original Lehman Brothers was known as the "king of bonds" in the United States, and underwriting bonds was its best business.

The second gift from Li Xuan was the IPO business of Dongfang Game Company. Li Xuan had promised Goldman Sachs before that they would be the lead underwriters for Dongfang Game Company to go public in the United States. But it is impossible for a super IPO to raise billions of dollars in one go, such as Eastern Games, to give the benefits to Goldman Sachs alone. Therefore, in addition to the lead underwriter, there will be two sub-underwriters, one of which has been determined to be Morgan Stanley, and the other is reserved by Li Xuan for Hilson-Lehman.

Wall Street's super investment banks generally have their own best business, such as Goldman Sachs is famous for mergers and acquisitions, while Morgan is famous for financing. There is even a famous saying on Wall Street: If God wants to raise money, he also has to find Morgan Stanley!

It's just that Li Xuan's first business with Wall Street banks was the acquisition of RCA. Goldman Sachs, known for its corporate mergers and acquisitions, naturally became Li Xuan's preferred partner. Goldman Sachs also took this opportunity to establish a good relationship with Li Xuan and become one of the preferred investment banks for various multinational businesses of the Oriental Group.

For a high-quality company like Dongfang Game Company, as long as the issue price is too unpredictable, the new shares will almost certainly rise sharply after the listing, and it is impossible to fall below the issue price. Therefore, to undertake the IPO business of such a company, in addition to making a lot of money, placing new shares to customers is equivalent to giving money. And investment banks often use this opportunity to consolidate relationships with core clients.

And Hilson-Lehman can take advantage of the IPO of Oriental Game Company to make a good start for itself to revive the traditional investment banking business!

Whether it is the acquisition of Hilson-Lehman, or the listing of Oriental Games in the United States, they are major events that have attracted the attention of the global capital market. So if a little clue is exposed, it can attract a lot of attention! And Li Xuan's status in Hong Kong is extremely special, and his every move will be carefully interpreted under a magnifying glass.

Therefore, the news that Li Xuan was going to spend huge sums of money on the acquisition of Hilson-Lehman Company immediately aroused heated discussions in Hong Kong. Fortunately, the overseas acquisition projects of the Oriental Group in recent years are not too few, such as the original RCA company, and later Fairchild Semiconductor, MCI company, GCA company, etc., Hong Kong people have a certain amount of money for the God of Fortune Li's various generous projects. immunity.

However, after rumors that Dongfang Game Company might go public in the United States came out, rumors about Li Xuan preparing to go for capital began to rage again. Over the years, almost all of the most famous companies under the Oriental Group have been listed overseas. His God of Wealth, Li, eats meat with a big mouth, but doesn't even give other people half a mouthful of soup, which will naturally attract people's criticism.

Fortunately, Li Xuan did not leave behind. Just when everyone was still talking about the first two rumors, an explosive news suddenly spread in the capital market of Hong Kong.

The Oriental Research Institute is going to be listed, and it is listed on the Hong Kong Stock Exchange, and the financing scale may exceed 40 billion Hong Kong dollars!

What is the concept of 40 billion? Chunghwa Electric Power Co., Ltd., which is 35% controlled by Li Jiacheng, has a total market value of 33 billion Hong Kong dollars. The core asset under Li Ka-shing's own name is also the largest real estate group in Hong Kong, Cheung Kong Industrial, with a current market value of HK$40.5 billion!

These two companies are among the blue-chip stocks in the Hang Seng Index, and they are already one of the few large companies in the Hong Kong stock market. Only HSBC and Jiahua Bank can stabilize their total market capitalization.

Compared with the scale of the Oriental Research Institute, these two super hegemons almost control the Hong Kong financial market, and it seems that they have become insignificant all of a sudden. As one of the famous unicorns in the global high-tech industry, the total valuation of the Oriental Research Institute is likely to exceed 200 billion Hong Kong dollars, which is much more than the combined market value of HSBC and Jiahua.

All Hong Kong people know that if the Oriental Research Institute remains listed in Hong Kong, it will definitely be a market for outsiders, and Asia Sun Hung Kai Securities will be in charge of the operation. Therefore, Asia Sun Hung Kai's phone call was immediately overwhelmed by all investors in Hong Kong, and it had to quickly release an announcement~www.readwn.com~ officially confirming the news that the Oriental Research Institute will be listed in Hong Kong.

Asia Sun Hung Kai Securities has been sold to LH Fund by Jiahua Group not long ago. It will also be restructured with Lehman's Asian arm after the LH Fund completes its merger with Hilson-Lehman.

Lehman, which established an office in Hong Kong as early as 1971, has an even longer history of operating in Asia. As early as 1905, Lehman helped Japan underwrite a government bond. Since the 1960s, Lehman has successively taken over the dollar bond underwriting business of governments and institutions such as Malaysia, the Philippines, and the Asian Development Bank.

Of course, the reorganization of the two companies cannot be accomplished overnight, so the IPO of the Oriental Research Institute will be led by Sun Hung Kai Asia and Lehman (Asia) as the lead underwriter and sub-underwriter respectively.

Among them, Sun Hung Kai Asia is responsible for the placement of new shares in Hong Kong, and the amount of new shares underwritten will reach 70% of the total number of new shares issued in the IPO. The remaining 30% of the new shares will be placed by Lehman to overseas investors.

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