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Text Chapter 3022 The largest IPO negotiation in history

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    After chatting for a while, Tang Mingxiang's cell phone rang.  Xiao Qi helped her get it. She looked at the number on the phone and quickly picked up: "I'm Tang Mingxiang um okay" Putting down the phone, Tang Mingxiang said to Xiao Qi: "Zuckerberg  Ge is coming soon, and you happen to be here, so help me deal with him. " "What is he here for?" Xiao Qi asked subconsciously.  "In February next year, faebook will be preparing for its IPO. In December, things will be completely finalized and the road show will be held in January." Tang Mingxiang said, "He came to me several times last month, and he wanted to let me  Give up more shares for IPO, but I'm not that stupid. You said that Fae Bo OK is the best company. If you want to keep it for my family, how can I give it up? " "He asked for it to be given up.  How much?" Xiao Qi asked.  "15%, and he himself is prepared to contribute 8%." Tang Mingxiang snorted coldly, "He thought well, and there are others who are also prepared to contribute 10%, which adds up to 33%. This part is considered the valuation  It¡¯s 120 billion U.S. dollars, and the price is okay, and Goldman Sachs has promised that if fae wave OK doesn¡¯t reach a market value of 200 billion U.S. dollars within three years, we can sell it to them at a valuation of 200 billion U.S. dollars. That¡¯s because of this commitment.  The founding shareholders and employees were very excited. "In order to obtain the exclusive rights to operate the IPO, Goldman Sachs made a big deal." Xiao Qi smiled.  There are not ten but eight investment banks that want to do a fae wave ok IPO.  "And these investment banks are not small investment banks. They can't even squeeze in, such as Nomura Securities, the number one in Asia, let alone small regional investment banks.  Only the eight giants including Goldman Sachs, Merrill Lynch, Morgan Stanley, ********, Citigroup, Royal Bank of Scotland, UBS, and Credit Suisse First Boston have the ability to undertake such a large IPO listing.  .  Due to the special status of fae wave OK, each company offered very generous conditions. Among them, the highest offer was not from Goldman Sachs, but from the Royal Bank of Scotland. They gave an IPO valuation of US$150 billion, but required fae wave  OK gives more than 50% of the shares, which is what the two major shareholders Zuckerberg and Tang Mingxiang are not willing to do at all.  Goldman Sachs¡¯ proposed IPO is only US$120 billion, but its commitment to a market value of US$200 billion seems very sincere.  Although everyone knows that based on the strength of fae wave OK, it is only a matter of time before the market value reaches 200 billion US dollars, but Goldman Sachs is the only company that can guarantee it outright.  Of course, capital is all about profit. Without huge profits, it is impossible for the eight major investment banks to offer so many preferential conditions.  Even if the IPO is only US$120 billion, after Goldman Sachs goes public and operates a lock-up period of about one year, they will at least have excess profits of more than US$5 billion!  Although the world's richest people often have tens of billions or even hundreds of billions of dollars in net worth, most of them are immovable stocks. There are definitely few people in the world who can truly earn 5 billion US dollars in cash in one go.  business.  Many world-class large companies may only have a profit of US$5 billion a year.  Zuckerberg holds 34.2% of the shares, but this part of the stock has a dual-class structure, with voting rights twice that of ordinary stocks. After he gave up 8%, he still had 26.2%, which is 52.4%.  , which can still guarantee his absolute control over fae waves.  It is worth noting that the 8% shares taken out from his hands automatically lost 2 times the voting rights and were converted into ordinary stocks.  But Tang Mingxiang's is different. Her shares are just ordinary, and her voting rights are ordinary. Although she will no longer give up her voting rights to Zuckerberg after listing, after giving up 15%, she only has  It dropped to 18%, which was far from satisfying her.  Little Meiji remembers what her husband said. The greatest value of fae wave ok is not just money, but also its influence on the Internet. The New York Yankees can influence more than 800 million fans, but with fae wave ok  , the online social networking of at least 3 billion people in the future will be under your control.  Which is more important, money or shares, is an obvious question.  Therefore, Tang Mingxiang does not agree with Zuckerberg¡¯s ideas at all.  She is the second shareholder and a very powerful tycoon in the United States. No matter how tyrannical Zuckerberg is, there is no way he would really dare to fall out with Tang Mingxiang.  So during this period, he came to talk to Tang Mingxiang every day, just to get her to give in.  Tang Mingxiang is currently pregnant with her second baby, and is very impatient with this guy who is looking for trouble, but since it also involves the interests of Fae Book, she can only endure it and not fall out.  Now, my man is here, and he can just deal with Zuckerberg.  Although Zuckerberg is a tyrant, in front of Xiao Qi, heBut even if it doesn't matter, his arrogance can be knocked down in an instant.  In fact, when Zuckerberg came over, the servant took him to the wooden table in the garden. When he saw Xiao Qi standing there, he really had a look of astonishment on his face.  "Mark, long time no see!" Xiao Qi smiled and shook hands with him, and then the two of them sat down in order.  Zuckerberg had met Xiao Qi several times. Of course he knew that Xiao Qi was Tang Mingxiang's man. But at this time, when he and Tang Mingxiang were negotiating for shares, Xiao Qi suddenly appeared, which made him feel quite embarrassed.  Unexpected, but also wary.  With a wry smile, Zuckerberg said, "I can't believe that Miss Tang actually invited you here! Do you, the world's richest man, need to take action for such a trivial matter?" Although Zuckerberg thinks highly of himself, he still thinks highly of himself.  But I also understand that no matter how powerful fae wave ok is, it still has a market value of two to three hundred billion US dollars.  There are at least three or five companies under Xiao Qi with a higher market value than Fae Book. Fae Book is nothing in front of him.  "I just came to visit them and didn't know there was such a thing. But since it happened, I can only negotiate with you." Xiao Qi said with a smile, "But don't worry, I am representing the  My wife, the shares in dst, whatever the deal is with Milner, I won¡¯t interfere." Zuckerberg nodded slightly.  Milner was friends with him. Who invested the money in dst? Milner told him before the purchase, but in the end Zuckerberg chose to agree.  On the one hand, fae wave ok does require a large amount of funds to develop and grow. On the other hand, he also thought that if necessary, he could use "the world's richest man invests in fae wave ok" as a gimmick. This would be a great way to increase the stock price.  Of course, Milner promised him that 10% of the stock would give up voting rights and would never interfere with the company's operations, which was one of the important reasons for his agreement.  When Zuckerberg saw Xiao Qi just now, he immediately thought of dst's 10% stake. If after the listing, the shares of dst and Tang Mingxiang were combined, it would still be a big constraint for him to hold 51% of the shares and not hold 51% of the shares.  It is not the safest guarantee. It takes more than two-thirds of the number of stocks, that is, 66.7%, to truly determine the life or death of a company.  Now that Xiao Qi has explained to him that one code is one code, Zuckerberg believes in Xiao Qi¡¯s promise. After all, Xiao Qi still has a very good reputation in this regard.  "It just so happens that you can also make the decision. Mr. Xiao, what do you think of the share sale plan that Miss Tang and I discussed before?" Zuckerberg is an activist and got down to business directly.  "33% is too little, at least 40% should be given." Xiao Qi said directly.  "Oh?" Zuckerberg was stunned. It was impossible to ask Tang Mingxiang to give up 15% of his shares. Why did Xiao Qi say in one breath that he wanted to give up additional shares?  "But I think the proportion of shares taken out, except for those who want to cash out and leave, should be calculated based on the shares held by everyone." Xiao Qi's next sentence made him understand what the calculation was, "Mark, you take 13.68%  Come out, Xiangxiang will give out 13.2%, and DST will give out 4% This is appropriate. "Zuckerberg was a little angry, fae wave OK is my territory, okay, you asked me to give out so much when you came up.  , how can I control the company in the future?  Although he never thought that he would always control more than 50% of the voting rights. In fact, 30% of the voting rights of European and American companies is very powerful. But Zuckerberg is not that stupid. He knows that he will have to wait until 200 billion in the future.  The market value of U.S. dollars has increased, so selling is the most cost-effective. Now if you take out so much in one go, wouldn't it make others cheaper?  "Of course, in fact, we may not be able to give you so much." Xiao Qi saw that he was angrily trying to speak, so he stretched out his hand to stop him, and continued, "For example, for several of your entrepreneurial partners, the possibility of them cashing out this time  It¡¯s pretty big, I guess it¡¯s about 8%, right? If you calculate it, basically you and Xiangxiang each own 12% of the shares, which is almost enough.¡± There are many original shareholders of faebook, except Zuckerberg.  Except for the investors who initially spent 10 million to obtain 20% of the shares, the remaining shares have been severely diluted.  And among this group of people, there are many young people who like to enjoy themselves. For example, the last founder partner went directly to Singapore to avoid the high taxes in the United States. He cashed out almost all his shares.  ¡°It¡¯s just that he sold the shares after becoming a Singaporean citizen, which reduced the U.S. tax a lot, which caused many Americans to be angry.  Zuckerberg knows that it is very possible for the founders to cash out as Xiao Qi said, and the distribution ratio is fairly reasonable.  But the question is, why should he follow Xiao Qi¡¯s idea?  (Brothers, please subscribe more!) (To be continued.)
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