Pao Yue-kong was wealthy, unlike Australian businessmen.
If the price is low, he may not be willing to sell his shares.
Bao Yugang did not answer immediately, but instead picked up his teacup and took a small sip, seemingly in no hurry at all.
Seeing this, Zhou Anping knew that the other party was not satisfied with the price.
"Mr. Bao, how much are you willing to sell your shares for?"
HK$1.2 billion!
“Mr. Bao, Standard Chartered Bank’s current market capitalization is only HK$7 billion. You’re asking me to spend HK$1.2 billion to buy 10% of the shares? Isn’t that a bit inappropriate?”
Bao Yugang replied calmly, “Standard Chartered Bank, as one of Hong Kong’s note-issuing banks, is doing very well. The reason why its share price is only HK$7 billion is mainly due to the impact of the stock market crash. I believe that in a year or two, Standard Chartered Bank’s share price will definitely rise, and I can wait until then to sell my shares.”
Zhou Anping shook his head and said, "Mr. Bao, how can we predict the future? What if Standard Chartered Bank doesn't manage well and its stock price falls even lower in the future?"
Bao Yugang smiled and said, "I have high hopes for Standard Chartered Bank!"
Zhou Anping smiled wryly upon hearing this. Bao Yugang was financially strong and did not need to sell Standard Chartered Bank to raise funds. Moreover, he was convinced that Standard Chartered Bank's market value would rise in the future, so Zhou Anping was at a loss for what to do with him.
"Mr. Bao, I'll go back and discuss it with my boss. I'll take my leave now."
"Okay, I'll take you!"
...
On his way back, Zhou Anping called Zhao Ye.
"Boss, Y.K. Pao has asked for HK$1.2 billion. He'd rather hold onto it for several years than lower the price."
"1.2 billion it is, buy it quickly! At the same time, quietly acquire Standard Chartered Bank shares on the stock market. Also, test Qiu Degeng to see if you are willing to sell your Standard Chartered Bank shares!"
"Okay, boss!"
...
The following day at noon, Zhou Anping first signed a share transfer agreement with Robert Home, an Australian businessman who had traveled from afar.
As Zhou Anping signed the document, he couldn't help but feel some sympathy for Robert Homer.
They sold their 10% stake in Standard Chartered Bank for HK$850 million.
Pao Yue-kong, on the other hand, sold the same shares and received HK$1.2 billion.
However, business is business, so it's no wonder that Wujiang Group took advantage of the situation.
In the evening, Zhou Anping visited Bao Yugang again, and the two reached an agreement in the study. The share transfer agreement was officially signed the next morning.
With this, Wujiang Group now holds a 33.4% stake in Standard Chartered Bank.
Of these, 3.4% of the shares were acquired by Wujiang Group at a low price after the stock market crash.
However, a full acquisition of Standard Chartered Bank would be extremely difficult, with the biggest obstacles being regulatory approval and compliance procedures.
However, Standard Chartered Bank, as an international bank, has enormous development potential and can provide a lot of help to Wujiang Group.
Zhao Ye is not pushing for absolute control. So far, Wujiang Group is already the largest shareholder of Standard Chartered Bank and can basically control the development of Standard Chartered Bank.
In addition, Zhao Ye also wanted to develop a wholly-owned bank of Wujiang Group—Galaxy Bank—and expand rapidly by partnering with Standard Chartered Bank to create a shell company.
The financial world is vast and can accommodate many banks.
Standard Chartered Bank and Galaxy Bank of Wujiang Group can absolutely achieve a win-win situation.
...
Qiu Deben himself owns a bank, so he is actually very interested in Standard Chartered Bank. If he had the opportunity to acquire Standard Chartered Bank, he would definitely do it without hesitation.
Unfortunately, their strength was insufficient.
He not only lacks the financial strength to acquire Standard Chartered Bank, but will also be embroiled in a accounting fraud scandal next year.
Zhou Anping probed him, asking if he was willing to sell his shares in Standard Chartered Bank. The result was self-evident: he was rejected.
The stock market crash had a significant impact on Qiu Degen's company; otherwise, the accounting fraud would not have occurred.
If he accepts the acquisition by Wujiang Group, he should have the funds to maintain the company's development and will not have to risk falsifying accounts.
However, he was still too greedy.
Don't you know that you can't have your cake and eat it too?
Upon learning the news, Zhao Ye instructed Zhou Anping to cancel the acquisition plan.
When the scandal of Chiu Te-ken's accounting fraud is exposed next year, Chiu Te-ken will not only have to give up ATV, but also his shares in Standard Chartered Bank!
Continue read on readnovelmtl.com
