My 1999

Chapter 204 AB Share Model

"Mr. Wang Dawei, Penguin currently has no need for external financing, so I'm sorry, but you can leave."

Wang Dawei is not stupid. He understands that Penguin's financing power is in Xu Liang's hands.

"Mr. Xu, MIH Group can increase the amount of investment, and we only make financial investments and do not interfere in Penguin's management."

"I'm sorry, please leave."

Xu Liang looked calm and spoke firmly.

Wang Dawei turned his head and looked at Bonima.

Seeing the look in the other person's eyes, Bonima sighed, helpless.

If he dares to agree, it will be regarded as a breach of contract.

The 57% of Penguin stocks held by Hanhua and Hongyan will instantly obtain all voting rights, and MIH Group will still be unable to invest by then.

"Mr. Wang Dawei, I'm very sorry that this trip was in vain for both of you." Bonima said apologetically.

Wang Dawei knew that he could not do anything about it. Although he was angry, he did not have an attack.

Both Hongmeng and Penguin are currently the most investment-worthy companies in China. If he gets angry here, in addition to being happy, the price will be to completely lose the opportunity to invest in the two companies.

As a mature business elite, he knows how to make choices at critical moments.

Stand up slowly.

"Mr. Xu, MIH Group is a professional international investment institution. We have always been sincere to Hongmeng and Penguin. Although it is a pity that we cannot reach cooperation today, I hope that Hongmeng and Penguin can send us a An invitation.”

With that said, he respectfully handed over a business card.

Xu Liang took it and took a look. Seeing that his attitude was good, he hesitated for a while and then said.

"Hongmeng International will launch Series A financing in June or July. At that time, I will ask my secretary to send you an invitation letter."

The net was overjoyed.

"Thank you Mr. Xu, we will definitely attend on time."

Xu Liang nodded and said, "Walk slowly."

"Mr. Xu, Mr. Ma, goodbye."

After saying that, he left the conference room with his assistant.

After Xu Liang and Penguin were the only people left in the conference room, Xu Liang spoke.

"Bonnie, if Penguin needs financing, Hanhua can continue to invest at a standard of US$60 million."

"Mr. Xu, are you too domineering?" Zeng Liqing couldn't help but ask.

Like Bonima, he does not want to see Hanhua's equity continue to grow within Penguin.

"Domineering? I wonder what Mr. Zeng is talking about?"

"The financing rights of an enterprise are the normal rights of the enterprise management, and investors have no right to interfere." Zeng Liqing said.

Xu Liang smiled faintly, "When we signed the contract, we all agreed. Now with the financial support of Hanhua, Penguin has developed rapidly and got out of the predicament of being on the verge of bankruptcy with no one investing, and it has begun to turn its back on others. ?”

"us……."

Zeng Liqing suddenly stopped, they were indeed at a loss.

Bonima said: "Mr. Xu, I can accept Hanhua's refinancing, but we hope to use the AB share model."

AB share model, that is, the stocks are divided into two series, A and B. The A series common shares issued to external investors have 1 voting right, while the B series common shares held by the management have N votes per share (usually for 10 votes) voting rights.

Since Wang Zhidong was kicked out of Sina, the founders of Huaxia Internet companies have generally chosen the AB share model for financing.

Baidu and JD.com are the best examples.

Under this system, although the founder supports no more than 20% of the company's equity, he firmly controls the management of the company.

"No problem, I can promise you. But Hanhua will be in charge of Penguin's external financing rights."

Xu Liang invested in Penguin just to make money and had no intention of intervening in Penguin's management, so it didn't matter whether it was the AB system or the partnership system.

But he wants to ensure his own interests and continue to control financing authority.

Without this power, Hanhua's shares would definitely be diluted by MIH Group this time.

Bonima frowned. Although he really wanted to take back the financing authority, he also knew it was impossible.

The contract in black and white has been signed long ago. Unless he is willing to breach the contract and be kicked out, he can only agree to Xu Liang's conditions.

Take a deep breath.

Bonima nodded.

"We agree."

"Smart choice."

Next, the two parties entered the negotiation stage.

Finally reached an agreement.

Penguin was valued at US$60 million, and Hanhua invested another US$10 million to obtain 14.2% of Penguin's equity.

After Series C financing, the 57% stake in Penguin originally held by Hanhua and Hongyan was diluted to 48.8%.

Combined, Hanhua and Hongyan hold a total of 63% of Penguin's shares.

The five founders of Penguin hold the remaining 37% and control all management rights except corporate financing rights through the AB share model.

But Xu Liang also understands that this is probably the last round of financing before Penguin goes public.

With these 10 million US dollars, they can completely support the company until the company turns a profit through Monternet, and then there will be no need for external financing.

Fortunately, through the first three rounds of financing and acquisitions, he has already acquired enough equity in Penguin. Even if it is diluted by a later listing, you can still get a majority stake in Penguin and ensure your huge future profits.

After settling Penguin and Bonima, arrange for Hongmeng Finance Department to pay Penguin.

Of course, you must first sign an entrusted financial management agreement, transfer 10 million US dollars to Hanhua's account, and then invest in Penguin in the name of Hanhua.

In the future, Hongmeng and Penguin will need to raise funds and go public, and their finances must be clear.

After staying in Pengcheng for one night, Xu Liang rushed from Pengcheng to Sanshui City without stopping.

The negotiations between Qiao Yuhui and the Sanshui Municipal Government have reached a critical moment, and some key decisions require his approval as the boss.

As a county-level city established in 1993, Sanshui's economy is far from developed.

Jianlibao is the largest enterprise in Sanshui. The profits and taxes it pays every year can reach 80% of the local tax revenue when it is very successful. Even if it is no longer available now, it will still be the mainstay of Sanshui's tax revenue.

Therefore, if you want to successfully acquire Jianlibao, there are many hidden conditions attached.

Seeing Qiao Yuhui again, Xu Liang found that her beauty was still the same, but she had lost some of her beauty. Obviously, this negotiation was not easy.

After arriving at the best three-star hotel in the area.

Xu Liang opened the suitcase.

He took out a palm-sized gift box and handed it over.

"A gift for you."

"What?"

Curious, he took it and opened it, and a jade bracelet appeared in front of him. Under the dazzling light, the crystal clear green color showed its high value.

"Beautiful, isn't it?" Xu Liang smiled.

"Why did you suddenly buy me such an expensive gift?"

"You have worked hard during this period, so of course you should be rewarded." After a pause, Xu Liang picked up the string of ice jade, "Here, I will put it on for you."

After Qiao Yuhui nodded, she stretched out her bright wrist as white as snow.

Xu Liang put it on for her.

The green of the top emerald contrasts with the whiteness of the skin, making it even more beautiful.

"It's so beautiful. It seems I bought the right thing."

Qiao Yuhui also liked it very much, "Thank you."

Xu Liang smiled, hugged her slender waist and hugged her into his arms.

"As long as you like it."

As he spoke, his hands covered Qiao Yuhui's round and smooth thighs.

This is his favorite part.

Qiao Yuhui has an excellent figure, especially her two long legs, which are long and straight. In the words of ten years later, she is "legs that are old".

Just when he was about to push forward, Qiao Yuhui held his palm down and glared at him angrily.

"Be honest and don't move. I want to talk to you about business."

Seeing her firm tone, Xu Liang didn't force her.

The twisted melon is not sweet, the way to go is to be in harmony with each other and be in harmony with each other.

"Okay, you say."

"Our acquisition negotiations with Sanshui are now halfway through. The two parties have reached an agreement to formally acquire all the assets and brands of Jianlibao for 380 million Huaxia coins.

The entire purchase price will be paid in three installments within half a year.

The first acquisition payment is 120 million Huaxia coins, which will be paid after signing the acquisition contract. The remaining balance must be paid within half a year. "

"Such a discount?"

Xu Liang was also surprised at the cheapness of the acquisition funds and the favorable acquisition conditions.

“The discount is also conditional, and the Sanshui Municipal Government has made three requirements to us.

First, the Sanshui government requires us not to move Jianlibao out of Sanshui City.

Second, they also want us to guarantee that Jianlibao will ensure that Sanshui people will account for half of Jianlibao’s employees.

Third, we cannot fire workers at will. "

Xu Liang couldn't help but frown.

These three conditions are indeed somewhat difficult.

The first condition is easy to understand. The Sanshui City Government intends to keep Jianlibao in the local area and contribute profits and taxes to Sanshui City.

But Jianlibao has already built a new headquarters in Yangcheng, and it is impossible to stay in Sanshui.

Moreover, as Jianlibao grows, it needs more talents. As a county-level city, Sanshui is obviously not a place that can attract top talents.

The second condition is that the Sanshui Municipal Government must ensure local employment in Sanshui.

However, this will hinder the normal flow of personnel within the enterprise, thereby affecting the healthy operation of the enterprise.

Third, workers cannot be fired casually. Xu Liang has also been in business for many years and understands local political and business relations very well.

Of course, what the gentlemen care about is not ordinary workers, but those related households.

Xu Liangdao had no objection to this. Regardless of whether it was at home or abroad, business operations always involved various related parties. But you have to have a certain degree of control.

I don't mind if you come in and get a penny, but don't give me any trouble.

Seeing Xu Liang deep in thought, Qiao Yuhui quietly snuggled into his arms without disturbing him.

After a while.

"Tomorrow, you can make an appointment with the main leaders of Sanshui for me, and I'll talk to them."

"Do you have a way to break the situation?"

Xu Liang nodded, "A little bit, but I don't know if it's feasible."

"Tell me quickly?"

"Wait a minute, let me ask you something. Is the current top leader of Sanshui City transferred from Weicheng?"

"Um."

"Not bad, I can still meet my fellow villagers."

"You are not from Weicheng."

"Yidu is also under the jurisdiction of Weicheng, so I can be considered half a Weicheng person. I'm sure a fellow countryman can climb up. The key depends on whether he recognizes me or not." Xu Liang said with a smile.

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