Rebirth: The Financial Giant

Chapter 160 [The layout of the primary market (debt repayment 1773)]

After the close in the afternoon.

An Yirou came to Lu Ming's office for a work report: These are several new shares that the company has participated in. Among them, Linglong Tire has been listed today.

Lu Ming took the list of materials.

In the second half of the year, Tiansheng Capital is also actively participating in the new offline institutions. After all, this is basically a business that can make a profit without losing money and easily double it.

In China, the listing of new shares is basically a number of market prices, and it will be three or five times higher first.

It is worth mentioning that those who participate in the online market can trade on the day of listing. Basically, retail investors can only use the online subscription channel, but also offline, but the entry threshold is more than 10 million. Obviously, few retail investors can. reach this threshold.

As for the shares held by institutions participating in the subscription of new shares offline, the current regulation is to limit the sale of shares for three months, that is, they cannot be traded before three months of listing.

But having said that, the price of new shares subscribed by institutions offline is the floor price, and the listed new shares often double and soar. Even if they are cut in half, the floating profit of the institution is still very difficult to lose money.

It is estimated that 13 new shares will be issued in July. The market value of Linglong Tire's issuance is close to 3 billion yuan, while the market value of the other 12 new shares does not exceed 500 million yuan, and it has to be divided up.

Tiansheng Capital participated in Linglong Tire, and Lu Ming was quite satisfied. He obtained about 20 million shares, the subscription scale was about 260 million yuan, and the cost of the issue price was 12.98 yuan. After three months, the ban would be lifted, and the price of about 30 yuan could not be sold. question.

It can be doubled in three months, that's it.

In addition to Linglong Tire, which was listed today, Tiansheng Capital also participated in the three votes of Keda Guochuang, Haiqi Group and Shiming Technology among the new stocks listed this month, and the ratio of these three targets is very small too much.

But having said that, mosquitoes are also meat if they are small, and if the plate is pulled high, it is not a big problem to earn hundreds of millions of these three tickets together.

Tiansheng Capital will actively participate in the listing and issuance of new shares every month in the future.

An Yirou said: Ge Feng, the head of the PE investment department, submitted a report yesterday about the layout of the primary market. You emphasized the 21 companies that you invested in, except for Ningde Times, Yaoming Kangde and Mai Rui Medical. Except for the three, the layout has been completed, and the current progress of these three is quite smooth.

These 21 non-listed companies are basically super trending stocks in the next four years. The progress is very smooth because Lu Ming's instruction to the PE team is to buy, buy, buy, spend money, and if you don't give it, you will be strong. , if the strong refuses, it must be too little, then give more.

Lu Ming wants Tiansheng Capital to become the major shareholder of these 21 companies. In addition to being generous and not bad money, the more important thing is to promise not to interfere with the company's operation rights, and to take the initiative to sign a concerted action agreement with the founder or management team. That is to follow the management vote.

Don't waste money, don't interfere with operations, don't care if you spend money, stock up.

The father of such an investor in the primary market does not like startup companies. Although Tiansheng Capital had a bad reputation last year, the Antian War left a bad impression on everyone, but a solid agreement in front of it is enough to dispel it. The concerns of the founding team.

Word of mouth may be deceptive, but black and white agreements are not deceptive, that's what they are.

Tiansheng Capital is indeed an angel investor who helps the development of enterprises with full sincerity, providing support including but not limited to funds, growing with them and sharing the residual value together.

It is worth mentioning that although the PE department does it, PE and VC are actually quite blurred. Generally speaking, PE equity funds are companies that exit after IPO.

But Lu Ming obviously can't let these 21 companies exit the day they go public. These companies are basically super big stocks that can reach ten times, ten times or even dozens of times after fifteen years. Their heads are caught in the door. will be withdrawn at the listing stage.

Becoming a major shareholder also means that from the first trading day of listing, there will be a three-year lock-up period, that is, the stock cannot be sold within three years.

At the same time, it is also stipulated that from the day when the new shares are listed, 5% can be sold after one year, 10% can be sold after two years, and all can be sold after three years.

The lifting of some restricted stocks can be sold to avoid the bear market in 2018, while other restricted stocks cannot be circulated in the secondary market during the restricted period, but they can be transferred by agreement.

Restricted shares can be transferred by agreement in accordance with relevant requirements if they comply with the relevant provisions of Article 3 of the Interim Rules for the Handling of Negotiable Transfer of Listed Companies' Negotiable Shares, and if the restricted shares do not have any other commitments that cannot be transferred. ,

There is no doubt that Tiansheng Capital has naturally signed such an agreement with the companies it invests in, and the restricted shares can be transferred by agreement, which does not cause any loss to the company itself, but only between the transferor and the transferee. game.

However, the transferee of the restricted shares still needs to abide by the original restrictions or commitments on the sale of shares.

That is to say, if the person or institution that takes the order wants to realize it, it cannot sell it in the secondary market. It can only sell it if it finds the next person who is willing to take the order. If it cannot be found, then accept the flash crash of the stock price and bear the falling loss. .

All of this has been clearly arranged by Lu Ming. When T becomes bigger, the restricted stocks that cannot be sold in the secondary market will find other investment institutions to take over. It is as much as they can get. By the end of 2018, there will definitely be people who will be caught The institutions in the pit have pledged their losses and exploded their positions. At that time, they will pick up their meat cutting trays and complete an epic big T operation.

After reading the first new material document, Lu Ming picked up the second PE equity investment material sent by An Yirou together. It was the 18 non-listed companies that had already invested in the layout. Share of equity financing.

Bolaiya (15%), Kai Laiying (20%), Shankeshu (15%), Huiding Technology (10%), Zhaoyi Innovation (13%), Antu Biology (16%), Anjie Shares (18%), Jianfan Biotechnology (22%), Crystal Field Medicine (20.31%), Pupu Kangshi (20%), Health Biotechnology (25%)...

Lu Ming closed the documents with satisfaction, and together with Pinduoduo and Mihayou who went to talk about it in person last year, Tiansheng Capital has 20 venture capital companies in the primary market. Lu Ming immediately said:

Very good, tell Ge Feng, in addition to promoting the investment of Ningde Times, Mai Rui Medical and Yaoming Kangde as soon as possible, focus on promoting the investment of ByteDance, have a good talk with its founder, and strive to win D The exclusive investment in the round of financing, if you can’t win it, you have to lead the investment.”

Tiansheng Capital is currently poor and only has money. There is really no shortage of money. There is no shortage of high-quality investment targets. There is no doubt that ByteDance is another giant in the domestic Internet industry with a potential market value of hundreds of billions of dollars. Naturally It is not allowed to miss.

It's not too late to drive halfway, and the current valuation is less than $10 billion.

...

(Ps: The donkey of the production team is also full of liver, and strive to guarantee two and three changes every day... Let's go here today, and continue to live tomorrow!)