Everyone in the exchange was shocked to hear this and hurriedly pulled up the information of Chen's Capital. When they saw the final chasm drawn on the trend chart, they all gasped.
Which institution suddenly sold this?
That's too cruel!
Mr. Chen was still boasting to one of the shareholders on the board of directors when he suddenly heard a scream on the other end of the phone, shouting, "How is that possible?"
The voice sounded as if someone had seen a ghost.
"Mr. Zheng, what's wrong? What happened?"
"Chen Shufeng, didn't you say you handled it very well? Didn't you say the stock had stabilized and there were no problems at all?" President Zheng roared and questioned on the other end of the phone.
Mr. Chen was slightly taken aback, and said, "There is indeed no problem."
"No problem? In the last minute before the market closed, an institution dumped a large number of shares, causing a 10% drop!"
"What?"
President Chen almost choked on her breath. Last night, she spoke with the heads of several financial companies that held shares in Chen's Capital and sincerely told them that there were no problems with the company's operations, and that both its profits and growth rate were excellent last year.
How could anyone possibly sell off Chen Capital's shares?
After hanging up the phone, Mr. Chen called the stock exchange. When he learned that the stock had indeed fallen by 10%, he was stunned. After recovering, he asked, "Which institution sold such a large amount of stock?"
"I'm sorry, we cannot provide you with that service."
"I am the chairman of Chen's Capital. I demand that you provide the details of the transaction!" Mr. Chen shouted into the phone.
"This is the transaction consultation hotline. For more information, please call our dedicated line." The other party then hung up.
Mr. Chen hurriedly called the hotline, and only after a long time did he learn that it was not an institution at all, but a dozen retail accounts selling at the same time.
Someone is secretly opening multiple accounts to sabotage her!
There was a knock on the office door. Mr. Chen put down the phone and said, "Come in."
A vice president walked in, looking slightly flustered, and said, "President Chen, our stock suddenly plummeted at the midday close. We're worried it might cause panic when the market opens this afternoon. Should we buy back the shares?"
"Wait a little longer. Prepare to hold a press conference to explain the situation and reassure the financial companies and individual investors," General Manager Chen instructed.
"Okay, I'll make the arrangements. Would you like to eat?"
"I'm not eating!" President Chen had no appetite for food. She picked up the phone and started making calls. She had to make sure those financial companies wouldn't run away.
If the major shareholder runs away, Chen's Capital's stock will truly lose its support. According to Hong Kong stock market regulations, a shareholder must disclose their ownership at 5%, and then issue a public announcement for each subsequent 5% increase. Once the ownership exceeds 30%, the shareholder will face two choices.
One option is for a company to issue new tradable shares. If it doesn't issue new shares, it will initiate an acquisition. Holders will need to buy all the outstanding shares at the highest price. If they hold more than 70% of the shares, a complete acquisition will be initiated.
This model is designed to protect listed companies from manipulation, but opening multiple accounts makes it easy to circumvent this.
Moreover, Chen's Capital has a very low board threshold of only 7%. Anyone holding more than 7% of the shares is automatically included in the board of directors, with equal rights and voting power.
Entering the board of directors is like gaining access to the inner circle. When the board meeting is held, there will be an opportunity to squeeze out President Chen. There are too many cases of many shareholders colluding to bully minority shareholders. Changing the dividend conditions and altering the rules of the board game, squeezing out a founder who only holds 10% of the shares is as easy as playing a game.
This is exactly what Mr. Chen is worried about right now!
Mr. Chen made several phone calls, and the emotions of all parties remained relatively stable. They were given the respect they were entitled to, and Mr. Chen also promised that if the stock price plummeted, they would provide funds to repurchase shares and stabilize the stock price.
After making a phone call, Mr. Chen wanted to talk to Lu Feng again. He first contacted several media outlets that Lu Feng had been interviewed by, and learned from the media where he was staying. Then, he connected to Lu Feng's room phone through the hotel front desk.
"Who is it?" Lu Feng lay half-reclined on the balcony, looking exceptionally relaxed, and casually answered the phone.
"It's me, Chairman of Chen's Capital!!" President Chen's voice was icy, as if the person on the other end of the phone was a tigress ready to devour him.
"Mr. Chen, you really are incredibly resourceful. You can find my phone number no matter which hotel I stay at." Lu Feng said with a smile, "Before the opening today, everyone in Hong Kong was laughing at me, saying that I was greedy and greedy. When I was interviewed by the media this morning, they ridiculed me. Now they're all in an uproar."
"When did you buy Chen's Capital's stock? How much do you have left?" Mr. Chen asked bluntly. "You want to play with me, huh? It's all about burning money, isn't it? Compare with me? What do you have to compete with me on?"
“Mr. Chen, you can’t be so arrogant. You’re in finance, how much of the money you’re handling is your own? You’re just using other people’s money to pretend to be rich. I’m in real business.” Lu Feng said calmly, “We’ll see how things go.”
Ms. Chen took a deep breath, telling herself to stay calm, and said, "Lu Feng, we've never met before, and we don't have any deep-seated hatred for each other, right?"
"That's right!"
"Our biggest conflict is with Su Yourong. You like this woman? Fine, I can give her to you." President Chen decided to throw Su Yourong out first.
"What would I do with that thing?" Lu Feng rolled his eyes. Su Yourong gave it to him? He wouldn't even take it for free.
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