Uncle of the Greater Bay Area ｜ Finance ｜ Daily News ｜ Change of Hong Kong Dynasty ｜ Columns ｜ Columns ｜ 20201120

In the pursuit of greater privacy, many wealthy family offices have also switched to large banks or offshore companies for asset deals in recent years. However, Zheng Zhigang, vice president and chief executive of New World (017), actually acquired high-profile private-name public companies Finance (279) immediately sparked heated discussion in the financial circle.

Zheng Zhigang is well aware of the brand’s premium gameplay, but the selected public finance is known this time around. Independent equity critic David Webb named 26 thousand old stocks that can’t be touched. It is closely related to the Huarong and Minhang red line. Buckle is very different from his pursuit of perfection. On the other hand, it is important to know that People’s Finance’s total debt at the end of September was around 3.73 billion yuan, and the wholly owned subsidiary of the bondholder of CCB International filed for liquidation due to a debt of 111 million US dollars. Knowing that there are tigers in the mountains, and knowing that the company’s ability to repay debts is in doubt, Zheng Zhigang is also willing to bet on his reputation and take ownership gradually by first borrowing and then buying stock. The first phase is 161 million yuan to obtain public-owned 1, 2, 4, 6 and 9 financial licenses; the second step is to provide up to 40 million yuan in interest-free and unsecured loans. If the public resumes trading successfully, the two loans can be converted into equity, which is equivalent to owning 80% of the expanded capital, and together with the second conversion of shares and the allotment reduction, they will own 75% of the expanded capital. .

The most ideal situation is to be able to become the owner and act as a “white warrior”. The worst situation is that the shell is DQ and loses its listing status. Zheng Zhigang’s 161 million yuan loan turns into bad debt and is exchanged for 1 yuan to a securities firm, but this price is inevitable. It is a bit expensive, because the current market price of such financial photos is only a few million yuan.

In recent years, Chinese capital has gone south to acquire local intermediaries. On the surface, the price is high. Indeed, the new owner and the old owner have exchanges. After the transaction is completed, the funds will be transferred back, such as the follow-up to the acquisition of Huafu by Oceanwide in 2016 Operation: this time the people’s financial transaction definitely deserves to continue to pay attention to the subsequent development, how to trade with creditors in the name of Zheng Zhi and to disown accounts.

Uncle from the Greater Bay Area