Chapter 904: Director Lin is wise and powerful, and his name will be remembered for thousands of years!
While the first part of "Li Jianguo" was gradually being pushed to the altar by domestic public opinion, a feast of wealth was taking place in New York, far away in the United States.
In February last year, Sohu received US$68.4 million in financing from Goldman Sachs and Intel Capital. With tens of millions of dollars in funds still on its books, Sohu couldn't wait to start the company's journey to listing.
In 1999, when Internet companies wanted to go public, their first target was not their own country’s stock exchange, but Nasdaq in the United States.
This electronic securities trading institution, founded in 1971, has become one of the world's largest stock markets in just over two decades. It is also the most emerging industry-friendly securities trading institution in the world. Startups in many fields such as computer software and hardware, Internet, electronic communications, biotechnology, retail, etc. in many countries around the world have achieved their listing and financing goals here.
Sohu, which launched its IPO plan, cleared the obstacles to domestic listing with incredible efficiency with the help of Guowen Group, and then smoothly embarked on the road to Nasdaq with the help of Goldman Sachs.
May 5, New York, Manhattan, The Ritz-Carlton Hotel.
The hotel next to Central Park is one of the most representative five-star hotels in the Big Apple. The floor-to-ceiling windows on one side of the hotel offer an unobstructed view of the beautiful scenery of Central Park.
Today, a roadshow event is being held in the banquet hall here.
Roadshows are the bridge between investors and financiers, and securities issuers are the team that builds this bridge. Sohu's listing obtained three powerful institutions, Goldman Sachs, Morgan Stanley and Credit Suisse, as market makers, and Goldman Sachs' help was indispensable.
Zhang Chaoyang, who was just on the stage in a suit and tie, talking eloquently and answering questions from individual investors and investment institutions, had a wet back when he walked off the stage.
The last roadshow finally ended. For nearly half a month, he traveled to major cities in the United States almost every day, facing questions and challenges from various investment institutions and individual investors together with market makers.
This is something that all companies that want to go public on Nasdaq must face.
As a foreign company, Sohu and Zhang Chaoyang face greater difficulties.
Fortunately, all this finally passed.
While drinking water, Zhang Chaoyang communicated with representatives of several market makers. Through the roadshow exchanges over the past few days, many investment institutions and investors have shown great interest in Sohu.
Although in the eyes of many investment institutions and investors, China is still a backward country and the Internet companies born there have no future, there are still many institutions and investors who are very interested in Sohu, because many people firmly believe that it is often the undeveloped fertile soil that will bear the most abundant fruits.
Ten days later, Nasdaq Stock Exchange, New York.
Nasdaq and the New York Stock Exchange are very close to each other, both are located on Manhattan Island in New York, but one is on Broadway and the other is on Wall Street.
The decoration of the New York Stock Exchange is very similar to the exchanges people see in movies, but at Nasdaq, there are big screens everywhere, like a TV studio.
The Nasdaq bell ringing platform was like a large podium, with Zhang Chaoyang and many Sohu executives and board members standing on the stage.
At this moment, everyone's eyes were focused on the clock in front of them, with excitement, excitement and tension on their faces.
The opening time of Nasdaq is 9:30 in the morning, and Sohu Enterprise will ring the bell at 9:10. At this time, the clock has pointed to 9:09, and there is less than a minute left before the bell is rung.
The hearts of everyone present were beating with the turning of the second hand. As the final time was getting closer, the staff of the exchange had already prepared props for celebration.
"10, 9.8..."
Someone unconsciously read out loud, and everyone shouted out in unison: "...3, 2, 1!"
The listing bell is called ringing a bell, but Nasdaq does not have a bell. The New York Stock Exchange has a small hammer like the one used by a judge that symbolically pretends to ring it, and then the sound of the bell is controlled by an electronic bell.
Nasdaq doesn't even have a hammer, just a button on a screen.
Zhang Chaoyang put his hand on the screen, and the executives and board members behind him also crowded around to share in the joy.
The flash cameras of the media reporters standing by were flashing non-stop. In addition to the local financial reporters in New York, the largest number of people who came to Sohu's IPO today were domestic media and reporters.
As Zhang Chaoyang pressed his hand on the screen, Sohu officially became the first Chinese Internet company to be listed in the United States. This not only created history for China's Internet industry, but also broke the history of Nasdaq.
"Bang!"
"Bang!"
"Bang!"
Amid the flash of the lights, the staff zipped the ribbons that had been prepared long ago. The sky full of ribbons and colorful sequins turned the bell-ringing scene into a sea of joy.
Zhang Chaoyang warmly embraced his companions behind him. They made history!
After the exciting celebration, it is time for the market to open.
Sohu's issue price is 3.6 billion US dollars. Based on this issue price, Sohu's market value will reach 2.44 billion US dollars after listing.
As the first and most famous website among the three major portals in China, Sohu has always been a representative of "getting up early and catching up late".
Before 2000, Sohu was the leading portal website in China. However, it missed out on investment from Goldman Sachs due to chaotic internal management, and was picked up by Sina, which was listed on NASDAQ half a year ahead of Sohu. At that time, Sina's market value reached US$3.4 billion, while Sohu's market value was only US$490 million.
This is of course related to the stock market crash in 2000, but the more important reason is that Sohu was one step behind.
Now, with the intervention of Lin Weimin and Guowen Group, Sohu's shareholders and total share capital have changed. It has also successfully obtained two rounds of financing from Goldman Sachs and was listed on the Nasdaq more than a year ahead of schedule. The stock issuance price is more than twice as high as later generations, and the estimated market value has increased several times.
At 9:30, Nasdaq officially opened.
Sohu's stock code is SOHU, and the opening price is displayed on the big screen.
45 meter knife!
Sohu's stock price surged 25% at the opening, representing the market and investors' recognition of Sohu, and representing that at this moment, countless investment institutions and investors are frantically buying Sohu's stock code.
Everyone present understood the meaning of this number and cheered with joy.
3.05 billion US dollars. Less than half an hour after the opening, Sohu's market value reached 3 billion US dollars.
After four rounds of financing, Zhang Chaoyang's shares in Sohu are less than 35%, but even so, his shares are worth more than 1 billion US dollars.
Zhang Chaoyang stared at the stock price on the screen, his heart filled with incredible feelings.
This is the magic of capital!
Before ringing the bell, he was just an entrepreneur with some achievements. After ringing the bell, he became a billionaire. Although this was only paper wealth, even one percent of it would be a huge fortune.
After the ecstasy, Zhang Chaoyang suppressed his extreme excitement and chatted and laughed with his colleagues around him.
The bell ringing ceremony was over, the stock market opened, and it was time for him to be interviewed.
For Nasdaq, the listing of a foreign company was not particularly eye-catching, and the reporters who came to interview were just routine matters.
When it was the domestic reporters' turn to interview, everyone paid much more attention.
This is China's first company to be listed on NASDAQ, and it is an Internet company.
When Zhang Chaoyang was being interviewed, his mind would often jump to the stock price which was going up and down at that time, and he felt uneasy.
This attention continued until the stock market closed in the afternoon, and Sohu's share price was fixed at US$52 million.
On the day of listing, Sohu's stock price soared by nearly 45%, with a market value of 3.5 billion US dollars.
This P/E ratio is of course far beyond Sohu's current value and potential, but now is the time when Nasdaq is most obsessed with and crazy about the Internet industry. Sohu is also the first Internet stock from China, so it is not surprising to achieve this result.
After a magical day's journey, Zhang Chaoyang returned to the hotel at night, still a little bit in disbelief.
In just one day, he had a net worth of 10 billion Mi Dao.
"Calm down, calm down, these are just paper wealth." Zhang Chaoyang warned himself in his heart.
After finally calming down, he finally remembered the important matter.
All Sohu shareholders and board members attended today's bell ringing ceremony, except Guowen Group.
Zhang Chaoyang is very grateful to Lin Weimin and Guowen Group, because during the development of Sohu, Lin Weimin has provided help to him and Sohu more than once, and has always stood behind him and given him the most firm support.
"Teacher Lin, we have successfully gone public!" Zhang Chaoyang said excitedly on the phone, "The market response is very good! The opening price was 45 million US dollars, and the closing price was 52 million US dollars, a huge increase of 45%. Sohu's current market value exceeds 3.5 billion US dollars!"
Lin Weimin, who was on the other end of the phone, had just gotten up and said with a smile, "Chaoyang, congratulations! From now on you will be an Internet upstart and a billionaire!"
Zhang Chaoyang was filled with joy, but he said, "Please don't look down on me. These are just things on paper. They can't be taken seriously."
"Why not take it seriously? Once the stock ban is lifted, you can just sell a few hundred thousand shares and you'll be a billionaire, right?"
"Haha!" Zhang Chaoyang couldn't hold back his joy and laughed out loud, then added: "This listing is a personal success for me and for all Sohu shareholders. Guowen Group's shares are now worth more than 500 million US dollars!"
Guowen Press initially invested US$375,000 in Sohu. After these two rounds of venture capital and IPO financing, it now only has about 15% left, worth more than US$500 million.
Lin Weimin also laughed, "Yes! We also benefited from it. You have worked hard during this period, and have fun in the United States these days!"
After talking about the good news, the two hung up the phone.
At this time, Sohu executive Chen Jianfeng came to call Zhang Chaoyang.
Sohu is going public today, and they are going out to celebrate with investors and brokerage people in the evening.
In a good mood, Zhang Chaoyang hugged Chen Jianfeng and walked into the elevator. They went down to the first floor. The elevator door opened and a group of young people with great enthusiasm walked towards the colorful world outside the door.
Manhattan, a city of decadence and luxury, is opening its arms to the new Internet elite.
The night in New York was the morning in Yanjing. Lin Weimin put down the phone, and Tao Huimin had just gotten up. She asked, "Who is it? Calling so early in the morning?"
"I'm from the United States. The company our company invested in has gone public. It's evening there now!"
Tao Huimin didn't say anything. After washing herself, she went to call the "leader" at home.
Nannies Qin and Qian were preparing breakfast and tidying up the yard respectively. Lin Weimin was stretching his muscles at the door when he saw Tao Huimin coming out of the house holding the whimpering little Doubao.
This girl was so crazy last night that she didn't go to bed until almost 12 o'clock. It's only seven o'clock in the morning. It would be strange if she could get up.
After being spanked twice by Tao Huimin, she finally came to her senses.
After breakfast, Tao Huimin sent Xiaodoubao to school while Lin Weimin drove to work.
When he arrived at the Guowen Society, Lin Weimin told his subordinates the news he had received early in the morning.
Guowen Press is the third largest shareholder of Sohu. Now that Sohu has gone public, Guowen Press has also reaped huge benefits. This is naturally a happy event and of course we need to publicize it well.
In just a few minutes, the news spread throughout the Guowen Society.
Sohu went public with a market value of 3.5 billion US dollars. The 375,000 US dollars that Guowen Publishing House originally invested has now turned into more than 500 million US dollars.
Public opinion about Guowen Press was instantly ignited and quickly spread to all departments and subsidiaries with offices outside the country.
More than 500 million rice knives!
Everyone was shocked when they heard the news. This amount would be more than 4 billion RMB, which is more than all the assets of Guowen Publishing House combined, right?
Only 375,000 US dollars were invested, and it hasn’t even been two years yet. How many times has it increased?
Someone calculated that in less than two years, this investment made more than 1,000 times the profit!
Forget robbing a bank, even starting a money printing machine isn’t that fast!
Mr. Lin is wise and powerful, and his name will be remembered for thousands of years!
(End of this chapter)
Continue read on readnovelmtl.com
