Chapter 1598

The roadshow on the 26th is mainly to accept subscription from investment institutions.

When an enterprise is listed, the shares to be sold are generally divided into two parts, the international allotment part and the public offering part.

The international placement part is actually prepared for investment institutions.

The public offering of shares is for retail investors.

This time, Teng Xun International placed 680 million shares and planned to raise 34 billion Hong Kong dollars.

Part of the 300 million shares will be sold to the public, with a plan to raise HK $15 billion.

In fact, Teng Xun did not have a high proportion of over allotment, with only 20 million shares and planned to raise HK $1 billion.

Because of the constant change of currency exchange rate, the exchange rate ratio between us dollar and Hong Kong dollar is close to 1:8. In fact, Teng Xun's financing scale is less than 6.5 billion US dollars. At the current exchange rate, it is close to 6.3 billion US dollars.

The international allotment, including the oversubscribed portion, amounted to 700 million shares, with HK $35 billion, close to US $4.4 billion.

For Teng Xun's senior executives and distant senior executives, the lowest expectation of the first day's on-site subscription fund is US $500 million, reaching US $1 billion, even if it is a complete success.

After all, the subscription period of the international allotment shares is still many days, and the oversubscription multiple generally does not include the international part, only the retail part.

Therefore, as long as the subscription funds of investment institutions reach 4.4 billion US dollars, in fact, the impact on the next listing is not too big.

The rush buying trend of retail investors is actually attracting more attention from outsiders.

……

Their executives from afar think that if they reach $1 billion on the first day, they will succeed.

However, after Li Dong made a promise on the road show, the next scene made everyone stare.

Since the investment institutions have come to the roadshow, they are already optimistic about Teng Xun.

Even if Li Dong doesn't say anything on site, the subscription amount will not be too low.

This is the thing with risk, not to mention Teng Xun risk is not big, the future can be expected.

At this time, Li Dong once again reduced the risk of investment institutions. If he does not subscribe, when will he wait?

……

When Li Dong stepped down from the stage and Liu Hong announced that he could accept the subscription and sign the letter of intent, a group of investment managers rushed to the front almost instantaneously.

These institutions have less capital than big investment banks and no bargaining capital.

While the big institutions are still considering, it is better to start first, so as to avoid the ceiling of Teng Xun's subscription amount. In the end, other large institutions will have the opportunity to let Teng Xun over allotment again. They don't have this opportunity.

Other people rushed to Liu Hong, but Liu Qin squeezed for a while, and pushed to Li Dong. He opened his mouth and said, "Li Cough, Goldman Sachs subscribed for 200 million US dollars and Lenovo holdings subscribed for 100 million US dollars. My father didn't come this time, but he specially called me and told me to give full support to distant places and Teng Xun!

This time, on behalf of Goldman Sachs and Lenovo holdings, I have subscribed for a total of US $300 million. "

Liu Qin was going to call Mr. Li. However, seeing Li Dong grinning at her, Mr. Li held back. However, she couldn't say uncle Li.

After she finished, Li Dong said with a smile, "what's the use of subscribing to me? I just want to stand on the stage. You can find someone else.

What's more, Gaosheng is one of the underwriters. As long as you comply with the rules, you can subscribe as much as you like.

Why, Goldman Sachs thinks HK $50 is not high? "

If these underwriters feel that the price is still high, they will not subscribe at this time.

The advantage of underwriters is that they have a lot of autonomy, and even in the end, they can participate.

Now, on behalf of Goldman Sachs, Liuqin has subscribed for us $200 million on the first day. Obviously, Goldman Sachs thinks that the price of HK $50 is acceptable.

Before, they were still a little worried, but Li Dong said today that once he said this, he would give some guarantee for the on-site subscription. At this time, he didn't pay attention to the time. At the end of the subscription, Li Dong didn't say that he would guarantee.

Liu Qin didn't care about his ridicule, and said with a smile, "I'm not in the same department with them. Both sides are not related. I represent the investment department."

There are many industries and departments in Goldman Sachs Group. The underwriting team and the investment team can be viewed separately.

However, if the underwriting team thinks that it is not good, the investment department will not waste money. Even if it wants to, the headquarters will not agree.

After listening to Liu Qin's words, Li Dong didn't take Liu Qin too seriously. He nodded with a smile and said, "you're free, but do you represent Lenovo holdings? What, you want to go back and take over? "

Although Liu Qin and Liu Chuanzhi are father and daughter, they represent different big enterprises.

At this time, Lenovo holdings entrusted Liu Qin to represent them. In Li Dong's opinion, it was a little profound.

Liu Qin immediately shook his head and said, "I don't have this idea, and I don't have this idea. What's more, joint control can't talk about taking over."

Outside, everyone thinks Liu Chuanzhi is Lenovo's boss and absolute controller.As a matter of fact, Lenovo has a large proportion of state-owned assets. In fact, it is very difficult for such enterprises to take over the second generation, and they generally choose professional managers to take over.

It's not perfunctory for Liu Qin to say so.

Li Dong didn't ask any more questions. He simply talked to Liuqin, and then began to talk with some investors.

The investment managers of small and medium-sized institutions have gone to subscribe, and large institutions can still calm down a little. Li Dong, as the host, still needs to receive them.

Moreover, this time, not only these investment banks, including some domestic private equity funds, some Xiangjiang tycoons' private equity funds, actually came a lot.

These people have a lot of cash flow on hand.

In Li Dong's opinion, Teng Xun's financing is not the only one in the distance. Next, there are still many opportunities for us to deal with each other.

……

When Li Dong was chatting with the investor, Ma Yun and they did not disturb him.

This time, they were destined to be just spectators.

However, when the scene was so hot, people still felt some emotion.

Ding Lei looked at it for a while and sighed: "Li cannons shouldn't be called Li cannons. They have to call Li bold.".

The global financial crisis has not been completely over yet. Where did he get this confidence?

If Ali had made such a promise in those years, he would have made a huge loss this year. "

If Ma Yun had dared to say so, the privatization price would have to be doubled, and it would have cost billions of dollars more. Ali couldn't stand the collapse of his own.

Not only Ding Lei sighs, but also several foreign giants.

Li Dong is not so brave!

In 2009, the impact of the financial crisis in the mainland of China was not too big. However, in the international community, especially in the financial securities sector, the crisis has not been completely ended.

At this time, the stock price skyrocketed the first day and plummeted tomorrow. That's normal.

When Li Dong was on the road show, he dared to give people the bottom line. He was still such a large-scale financing plan. It has to be said that few of the people present dared to make such a commitment.

MEG stared at Li Dong in the crowd with interest for a while. Finally, Meg said hello to them and left ahead of time with his assistant and translator.

As soon as she left, Ma Huateng raised his eyebrows and said, "this one can't be really excited, is it?"

MEG suddenly came to Xiangjiang this time, and participated in Teng Xun's promotion meeting. This was an accident. Now she seems to be very interested in Li Dong. Ma Huateng has to suspect that she has the mind to enter a job in the distance.

On the other hand, Li Yanhong whispered: "what people see is not necessarily far away. Maybe it is micro blog? The election campaign also needs the support of the media.

Microblogging, in fact, is not weak in Europe and America.

Of course, Li Dong will not necessarily agree. "

We all know that in foreign countries, social media, especially Chinese social media, had better not participate in politics.

If the supporters win, it's easy to say that once they fail, they will be in big trouble.

Of course, this is also an investment. Once the other party wins, it is bound to give a return.

For politicians in Europe and the United States, giving supporters rewards is an established rule, not even a hidden rule.

Once they fail to pay their bills after taking office, all the supporters will choose to betray. For so many years, few people have broken the contract with their supporters.

Li Yanhong said so, others have some thoughts.

It can be seen that the influence of micro blog may be greater than they think, otherwise, the politicians of the United States will not come to China to seek support.

However, Li Dong may have noticed that they had not thought much about it before. Now, when Li Dong digs people, he just lost the election. In fact, this has already indicated his attitude.

Regardless of whether MEG is here to seek support, Li Dong is not optimistic about her campaign and will not let Weibo get into trouble.

Now think about it. Li Dong has always had a fierce eye. Maybe MEG will fail.

We didn't say much about it. Lei Jun looked at Ma Yun and said with a smile, "Lao Ma, how much do you think the intention fund for signing the scene today can reach?"

"More than $3 billion."

Ma Yun is not ambiguous, gave his own anticipation directly.

Ma Huateng, on the other side, squinted and said: "the $3 billion can't be sustained. Just now, Goldman Sachs, big and small molars have all gone straight to the battle. Besides, ICBC and BOC are all wandering around Li Dong.

In addition, some private funds in Xiangjiang and the mainland have already reached an agreement long ago, and the subscription amount will not be less than US $500 million.

Today, even if the scene doesn't meet expectations, these people will do it.

Li Dong still has a lot of people in China who trust him very much. It depends on whether these institutions will raise the subscription amount again in the distance today. "

For IPO enterprises, it is inevitable to determine some subscribers in advance.

We can't really let the scene cool down. Even if no one pays attention to it today, there will be some people, including some tycoons and private equity funds in China.Look at the scene now, and what Li Donggang just said, these institutions should also conduct on-site subscription today.

The scene is so hot, 3 billion dollars, it's not sure it can stop.

Ma Yun was refuted and didn't care. He said with a smile: "let's go. Teng Xun's promotion meeting is hot. In fact, it's good for us.

But even if it's a good thing, we won't be in a good mood if we stay

As soon as he said this, everyone nodded.

Teng Xun hot, in fact, it enterprises are good.

But the more popular you are, the more careful you must be of Li Dong's poisonous tongue, especially Ma Yun. If you don't go, you will be stabbed by Li Dong.

Taking advantage of Li Dong has no time to come over now, it's better to go first. As for the subscription fund, they don't ask, and Teng Xun will also disclose it to the public.

……

Ma Yun and they left. Although Li Dong saw them, he couldn't get away.

Li Dong slightly micro some regret, these guys, have not yet waited for their own subscription to end.

At least, I have to wait until I know the intention of the site funds to go!

……

At the same time.

Dongyuan.

Cao Fang looked at the screen in front of her, some worried: "Sisi, is it good or bad now?"

With a smile on her face, Shen Qian nodded and said, "Mom, don't worry. The effect is very good."

Shen Xuehua, who had just arrived from the capital, frowned and said, "CICI, go back and persuade Li Dong. This kind of thing can't be done again!"

She said Li Dong's promise!

This kind of promise also dares to do, Li Dong is crazy!

If you change her to her, you can hear that Li Dong is in charge of everything. No matter how big the risk is, she has to buy at least 800 million yuan.

This kind of promise, can you say it casually?

The stock market is risky, and children know it.

No one can guarantee that the next step is good.

How popular was Ali's IPO at the beginning? What was the result?

In 2008, it broke the issue price several times, which made everyone gape.

Although Teng Xun looks good now, who can be sure that there will be no problems in the next two years?

Shen Xi still said with a smile: "Mom, since he said it, it means that he has this confidence. Don't you think that when he just said that, he was particularly domineering?

All the investment managers in the stage were shocked. This kind of words can only be heard from Li Dongkou. "

Shen Xuehua rolled his eyes. What's wrong!

His daughter is now taken by Li Dong. Yes, of course, only Li Dong can say this, because Li Dong is crazy.

As a result, his daughter is still proud of it. Is this the dark that comes near?

Shen Xuehua also did not say what, after a long time and some regret way: "change a person, at this time I also have to subscribe for a bit."

In her opinion, the business is sure to make money. It's a pity not to participate this time.

Shen Xi didn't care about this, but said with a smile: "Mom, do you still have money on hand?"

Shen Xuehua turned a white eye on her. She didn't save some pension money in her hand. Because of the couple's tossing strength, she would have to rely on Lao Du's retirement pension.

She now felt that she was not wise enough. She had known that the couple could make such a fuss that she should not have given the company to her daughter in advance.

But now it's too late to regret it. I just hope that Li Dong can be a little more peaceful when the baby is born.

……

Family members are concerned, and the outside world is also paying attention.

The original two-hour promotion meeting was still not over at 3:00 p.m.

The wave of on-site subscription, wave after wave.

Even some did not arrive at the scene of the investment institutions, this time also have to contact through the phone.

What Li Dong said is that the investors who subscribe on site are guaranteed. We all believe that. It's a matter of uncertainty whether Li Dong will say so in the next road show.

What's more, through their understanding, Li Dong will only attend the Shanghai stock market roadshow next.

If you miss this time and subscribe later, you will have to bear more risks than others.

It was not until 4:00 p.m. that the atmosphere at the presentation gradually eased down. At this time, all those who should sign the letter of intent signed it.

The funds will not arrive in the account today, but if the subscription is confirmed within three days, the money will be frozen.

Several Underwriters were still busy at this time, but Liu Hong happily walked up to Li Dong and said excitedly, "Mr. Li, beyond imagination!"

Li Dong didn't leave. At this time, he shook his head slightly and said, "when, I don't need to say that again. It's a real success. Now, it's not."

As soon as the words came out, people's faces changed a little.

Indeed, if Li Dong didn't say those words, could he still have the present situation?

The current rush to buy is not because of the company itself, but because of Li Dong. There are still differences between the two.Liu Hong gently nodded, then firmly said: "Teng Xun is the first time, there will be no next time!

Micro blog listing, Teng Xun opened a good start, next, I think the effect will not be worse than Teng Xun!

By the way, or tell you about the current statistical results, so far, the scene has signed 164 letters of intent to subscribe.

The signed subscription intention fund is as high as US $7.2 billion! "

"7.2 billion dollars!"

"It has exceeded the amount of international placement financing!"

"This is the first day, so much?"

“……”

As soon as Liu Hong's words came out, people around him became agitated.

Although I knew it would not be too small, but 7.2 billion US dollars is still too much.

But Li Dong frowned again, and after a long time he said, "today it's less than 10 billion dollars?"

It's not that he's greedy, but after he's given the promise, it's still less than $10 billion, which is not much.

Liu Honglian busily said: "today is not over, some investors have not come, but now many institutions have called, hoping to extend today's subscription time.

Next, there will be some organizations involved.

There is still hope for us $10 billion. "

"Well, let's extend the time. Today's $10 billion is the best. Then I won't have to go to the international roadshow. If it doesn't reach $10 billion, I'll have to go a few more."

After that, Li Dong said again: "Xiangjiang's subscription is capped at 10 billion US dollars.

Today, today is the top!

Next, Xiangjiang will no longer accept subscription.

In Shanghai stock market, since the roadshow has been confirmed, we can't help but open up the subscription and cap US $5 billion. When will it arrive and when will it stop.

For the international part, there are no restrictions.

In addition, retail investors began to subscribe on August 1 and officially resumed trading on August 18! "

"Well, is the final issue price to be revised?"

"No, just HK $50, no more."

Li Dong shakes his head. He doesn't really don't understand it. If he really wants to add more, the profits of investors will be compressed. Even if he is really optimistic, the market's heat will be reduced.

Giving investors a certain amount of profit space is actually for greater returns in the future, but there is no need to struggle with short-term returns.

As soon as Li Dong said this, some of the investment managers beside him were relieved. It seems that Teng Xun is determined to take HK $50 as the issue price.

Otherwise, in today's situation, even if we really add more, we can understand.

If we don't add it now, our return will go up.

……

Xiangjiang subscription, Li Dong did not wait until the end.

On the spot, the subscription amount of more than 7 billion US dollars has reached his expected goal, and Li Dong will not be greatly shaken next.

However, on the 26th, as of 8:00 p.m., the subscription ended, and the final intention amount still made Li Dong happy.

Some international investment institutions were prepared to participate in foreign road shows before, but now many of them have participated in advance.

According to their intention plan, they can actually sign a letter of intent of about $12 billion on the same day.

However, Li Dong had a word in the first place, with a ceiling of 10 billion US dollars. Some investors in the back wanted to subscribe. Instead, Teng Xun stopped accepting it and asked the other party to wait for the next opportunity.

Even in the Shanghai stock market, some institutions that want to book in advance have been rejected.

Previously, Li Dong said that Xiangjiang plus Shanghai stock market had capped 10 billion US dollars. Now Xiangjiang has exceeded expectations. The quota of US $5 billion given to the Shanghai stock market is actually to take care of some institutions in the mainland.

This kind of hunger marketing means, also let many organizations helpless.

The limit limit on the far side is too low for them. They haven't seen any IPO companies. If they don't have more subscription funds, which one is not running higher.

But now, if Li Dongfei wants to do this, they have no way.

Fortunately, the international subscription opened in August is no longer limited, so we can only participate in it after that time.

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