章節 948: Chapter 948: 34% of the shares
On Monday, Xia Yu got up early and went to Jiuding Securities before the stock market opened.
Upon arriving at Jiuding Securities, the first thing that caught his eye was a busy scene: people having short meetings, starting up machines... In short, everyone was preparing for the opening of the stock market.
Amidst the respectful greetings of the employees, Xia Yu walked through the corridor and met Wang Qi, who was arranging tasks in the trading room.
As Wang Qi was about to finish, he gave a few final instructions, announced the end of the meeting, told the employees to get back to their duties, and then quickly left the trading room.
'Good morning, Chairman!'
'Good morning!'
'How is the acquisition of the Kowloon Motor Bus (KMB) shares going?'
Xia Yu asked casually.
Wang Qi immediately said, 'Chairman, we were just talking about that.
'The situation is as follows: On Saturday and Sunday, the company's acquisition team secretly approached the shareholders of the Tam, Lam and Yu families.
'
'The Tam and Lam families were already uninterested in KMB, so after the meetings called by Tang Shiu Kin and Lui Kwok Kwan on Saturday and Sunday failed to come up with effective measures, and knowing that the share price would still fall after the opening bell today, they easily chose to sell their shares. We bought them at the closing price on Friday.
'The Tan family's 8.48% stake cost 26 million Hong Kong dollars.'
'The Lin family's 7.46% stake cost 23 million Hong Kong dollars.'
'As for the Yu family, the third largest shareholder, the acquisition was more difficult, but it was still overcome, although at a slight premium of 5%, with 31 million Hong Kong dollars for the 9.64% stake they held.'
'We have not yet ventured to acquire the remaining shares of the Lui family's Lui Kok Kwan, Tang Shiu Kin and the Ng family. The Ng family runs the Kowloon Development Company with the Lui family, and it is highly likely that the Ng family will inform Lui Kok Kwan. We are still unsure of Tang Shiu Kin's attitude for the time being.'
'In addition to these major shareholders who have entered the board of directors, we have also acquired the shares of some institutions, which, scattered together, amount to 8.39%, at a cost of HK$27.3 million.
'So far, we have also acquired 34.08% of the shares, surpassing Lui to become the largest shareholder of KMB.'
'According to the plan, after the stock market opens, we will sell KMB and China Motor at the lowest price, and then start buying.'
'We plan to acquire 15 million KMB shares from the secondary market within two days, increasing our actual shareholding to more than 50%.'
Xia Yu nodded in satisfaction and praised, 'Well done, getting more and more efficient.'
Wang Qi smiled and said, 'It's because you, Chairman Xia, have given us good guidance.'
Xia Yu suddenly laughed and shook his head, saying, "Wang Qi, when did you learn to flatter like Yan Wenhan? Just get things done, no need for all this nonsense.'
Wang Qi laughed, nodded, and didn't say anything more.
Xia Yu looked at the time and noticed that it was only a minute or so before the stock market opened. He said to Wang Qi, "It's almost time to open the market. Check it again, I'll take a look first.'
'Okay!'
Wang Qi nodded, then stepped back.
Xia Yu started moving around the trading room, patting the shoulders of the employees from time to time to encourage them, which greatly motivated their enterprising spirit.
A minute and a bit passed in a flash.
When the time was up, the stock market officially opened. The various electronic screens and electronic boards in the trading room of Jiuding Securities Company displayed the information simultaneously. Xia Yu immediately looked up the code of Kowloon Motor Bus.
The opening price was HK$3.20 per share, a decrease of about 5% compared to the closing price on Friday!
At the opening of the market, the two traders in the trading room of Jiuding Securities Company started to take action. A sell order for 500 shares was placed at a price of HK$3.1 per share, with a total value of HK$1.55 million.
Then another sell order for 300 shares was placed at a price of HK$3.09 per share, with a total value of HK$927,000.
The share price of Kowloon Motor Bus was instantly pulled down.
Then Xia Yu saw that sell orders of various sizes began to appear, ranging from hundreds of lots to just a few or tens of lots. The prices of the sell orders were mixed, but they all had one thing in common: they were all lower than the opening price.
It was clear that the accumulated concerns of investors and institutions over the weekend had been triggered, and the share price continued to fall.
Xia Yu then looked at the share price of China Motor Limited.
The share price also opened low and continued to fall, with a unit price of only HK$1.27 and a total market value of HK$191 million.
Although the decline was not as severe as that of Kowloon Motor Bus, it had also shrunk by about 17% compared to last week when the share price was normal.
Moreover, in the current situation, it was a foregone conclusion that the share price of China Motor Limited would continue to fall. It just depended on whether it could be influenced by the share price of Kowloon Motor Bus today and shrink another HK$10 million in market value.
At some point, Wang Qi once again came to Xia Yu's side and quietly accompanied him.
Xia Yu looked away and said to Wang Qi, 'In the secondary market, try to acquire another 20% of the shares. With all the stock market activity, Lei Juekun and Deng Zhaojian will definitely know. I have had a lot of interactions with Deng Zhaojian, and I will go see him this afternoon. We can deal with Lei Juekun and the Wu family's shares later.'
Wang Qi gave a happy smile and nodded, saying, 'Okay.'
After that, Xia Yu left Jiuding Securities Company and returned to the Jiuding Building. As soon as he arrived, he had someone contact Deng Zhaojian to make an appointment to meet in the afternoon.
...
At 2:58 pm, Xia Yu's convoy arrived at the mansion at 5 Panlong Road, Happy Valley. The doorman had already received instructions and respectfully let them in after confirming the license plate.
When Xia Yu arrived at the front door of the villa, Deng Zhaojian, nearly 80 years old, bald and with white eyebrows, welcomed him with a kind smile: 'Mr Xia, welcome to my home, your presence honours my humble abode!'
Xia Yu hurriedly smiled and shook hands with Sir Tang: 'Sir Tang, I'm flattered that you went to the trouble of coming out to meet me!'
Tang Shiu Kin was knighted in 1964, so Xia Yu was not wrong to call him Sir.
Deng Xiaojian laughed and said, 'Mr Xia, you are as humble as ever. If we talk about family business and influence, I am far inferior to you, so I should be the one feeling flattered.'
'Let's not stand outside, it doesn't look like I'm treating you well. Come inside!'
'After you!'
After they had taken their seats, Deng Xiaojian said with some emotion, 'Mr Xia, I remember the last time we met was at the foundation stone laying ceremony for Jiuding University. When I think about it, it's been a few months.'
Xia Yu nodded and smiled, 'Yes, I still have to thank you for coming in person and generously donating one million Hong Kong dollars!'
Deng Zhaojian waved his hand happily and said, 'Don't mention it. I have only done my part. Mr. Xia, you made a generous donation of 100 million on the spot. You are a big shot and have greatly boosted the morale of the Chinese people!'
'It's now more than March, and the university is almost ready to start, right? I've seen the advertisements for Jiuding University in the newspaper and on Global TV. They're very well done, clearly explaining the advantages of Jiuding University. My grandson even says he wants to go to Jiuding University when he grows up.'
Xia Yu replied with a smile, 'We're almost ready in all aspects. We'll start promoting it now, and the self-admission process will begin soon.'
'Jiuding University's goal is to become a world-renowned university. When your grandson grows up, he can really go there to study. I believe it will not be worse than the other universities.'
Deng Zhaojian laughed happily, 'With Mr. Xia's strong support for the construction of the school, we will definitely have a world-renowned university in Xiangjiang. I'll let my grandson take the entrance exam when he grows up. I'm just afraid that I'm too old to make it to that time.'
Xia Yu quickly said, 'Sir, what are you saying to be so pessimistic? I can see that you are in good health, and you can live another 30 years without a problem.'
'By the way, my master Li Chunqiu is the director of the Chunqiu Hospital. He has unique insights into health preservation. I will invite him to chat with you sometime and prescribe some tonic recipes.'
Deng Zhaojian smiled and thanked him, 'Your master, Mr. Chunqiu, is a famous figure in Xiangjiang. It seems that I have to take advantage of you and try to live a few more years, haha...'
...
After chatting for a while, Deng Zhaojian asked Xia Yu, 'Mr Xia, what brings you here this time?'
Xia Yu's expression became solemn, and he looked at Deng Zhaojian with calm eyes, nodding and saying, "Yes, Sir Deng, I have come here with an unreasonable request, I hope you will grant it!'
Deng Zhaojian nodded slightly, smiling and making a gesture to invite him to continue, "Just say it!'
Xia Yu said bluntly, 'Sir Tang, I hope you will transfer the equity of the Kowloon Motor Bus Company to me. I plan to acquire the Kowloon Motor Bus Company.'
Tang Zhao Jian was not angry, but instead pondered for a moment, and asked Xia Yu, "Mr Xia, may I know how much equity you have already acquired?'
Xia Yu did not hesitate, and said frankly, "About 34%.'
Deng Zhaojian's snow-white eyebrows shot up in surprise, and he said, 'Really that much?'
After that, he frowned for a moment and pondered, asking, 'Have the Tam, Lam and Yu families already sold to you?'
Xia Yu was a little surprised. He didn't expect Deng Zhaojian to have guessed so easily. He nodded and said, 'Yes, in addition to them, I also acquired some from other financial institutions.'
Deng Zhaojian nodded slightly and said with emotion, 'I guessed it was them. When Tan Huantang and Lin Mingxun were still alive, they had repeatedly reduced their shareholdings and clearly expressed their desire to withdraw. Now that the shareholdings are in the hands of their descendants, they have never really cared about the development of the company. Now that Kowloon Motor Bus is in trouble, it is normal for them to choose this way.'
'As for the Yu family, they are currently keen on running a real estate company and are not very interested in the low-profit Kowloon Motor Bus.'
'Now, among the founders of Kowloon Motor Bus, I am the only one still alive. Lui Kok Kwan of the Lui family and the Wu family, who joined later, are also focused on Kowloon Development. The only reason they still care is for the land of Kowloon Motor Bus. Alas...'
At the end of his speech, Tang Siu-kin let out a sigh, seemingly feeling lost that the business he had run his whole life had come to this.
Seeing Sir Tang's somewhat despondent appearance, Xia Yu thought for a moment and said, 'Sir Tang, you don't have to sigh. Each generation has its own way of thinking. The bus industry is now restricted by the Hong Kong government in terms of profit margins, while the property industry is booming and requires little technical know-how. It is normal for them to be keen on the property industry. Every industry has a cycle, and the bus industry is now at the end of its cycle.'
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