Chapter 1701: Equity reset

On January 19, Li Dong returned to the distance again.
Since entering January, Li Dong hasn't been to the company much.
However, even in the big distance, even without him, it is now running smoothly, and everything is developing in an orderly and orderly manner.
...
In the office.
Yuan Chengdao reported the progress of his work one by one.
Dongyu has begun to gradually integrate into distant retail. Although it has not officially started yet, Qi Yunna and Sun Tao are already doing it, including some of Dongyu's management, and some people have already been transferred to rotation.
Qi Yunna's goal is to fully integrate Dongyu into distant retail before New Year's Eve.
In this way, the preliminary integration work is completed.
After the New Year, Yuanfang Retail can formally prepare for listing.
Speaking of Dongyu's integration into the group, Yuan Chengdao thought about it: "General Li, after Dongyu's integration into the group, the holding group's shareholding ratio is too high, exceeding 80%.
The shareholding ratio of others will be diluted again.
It is not good to have a low shareholding ratio, but it may not be a good thing if it is too high. "
Li Dong glanced at him and thought for a while, then said: "Then do you mean to introduce investors before going public?"
Yuan Chengdao shook his head, and Li Dong was surprised at the next turn.
Yuan Chengdao said with a smile: "At this time, the introduction of foreign capital is inappropriate, and the introduction of domestic capital has limited help for us.
And I know your thoughts and I do n’t want others to intervene too far.
In this case, it is helpful for the integration of the group to allow employees to hold some shares appropriately.
On the eve of listing, we do n’t need to let employees hold shares in the same way as before.
Rather, in the form of subscription, let willing employees buy a part of the equity, which will help the integration of the retail group more.
The stability of the group and the centripetal force of employees ultimately depend on the interests.
A salary increase cannot be continued all the time.
The equity award scheme is expensive every time and is not suitable.
At this time, subsidizing part of the shares will not only make employees profitable, but also make the group's funds more abundant, and will make everyone willingly bind to the group's interests.
In this way, the integration work is much better.
Fortunately, those of us hold most of the shares in retail companies.
However, some newly incorporated corporate executives have missed this opportunity.
At this time, open permissions allow them to also change from outsiders to participants, I think everyone will be more motivated. "
Li Dongwen thought about it and finally smiled: "This plan, you told me a few years ago, but I was rejected at that time.
Now again, the timing is right.
That line, just follow what you said.
I believe that you have already made preparations. The binding of interests is indeed a good way to condense the centripetal force of enterprises. "
Li Dong agreed with his plan, which made Yuan Chengdao a lot easier.
Yuan Chengdao replied, "In addition to the employees subscribing to share capital, you see ... Can we, including some original shareholders, increase our shareholding?"
Li Dong glanced at him, then laughed and said: "It seems that you have accumulated a lot of capital on hand."
Yuan Chengdao also does not deny that as an executive with an annual salary of 10 million or above, there is still some money.
What's more, the increase in shares is not just to make money, but also to make the interests of senior management and distant places tied.
The shareholding of these senior executives was only 1.2% after the last mall integration.
This time Dongyu's integration will be even lower.
In a large group, senior management holds less than 1%, which is not a good thing.
Now it is not in the form of rewards, but in the form of subscriptions, which is good for the group and executives.
The group can return a portion of the funds, and executives and employees can also make a profit for mutual benefit.
Before the change, Yuan Chengdao would not mention this matter.
But now, Yuan Chengdao feels that the problem is not big.
The fact is the same, Li Dong laughed for a while, and then said: "You are right, the form of rewards is still very limited in the end, and the spread is not great.
I really want to reward too much, and I can't bear it. I'm afraid you are not at ease.
After all, there are too many restrictions on the rewarded equity.
Just like Wu Shengnan, after leaving office, he took nothing away, which is probably one of the reasons why you are not at ease.
Although there are still some restrictions on internal subscriptions, compared with rewards, it will make you like them more at ease.
Yes, in principle, I agree with the plan. You will show me the specific plan when you look back, but the subscription will not be arranged until Dongyu merges.
It is also a good thing for the group to let the outflow of funds from the group return to the group and become the shares held by the employees. "
Both consecutive proposals were approved by Li Dong, which made Yuan Chengdao's exhausted spirit recover suddenly.
And these two programs benefit all employees and executive shareholders, which is also conducive to his next work.
Li Dongneng was able to support his plan at this time, and Yuan Chengdao felt completely down to earth.
Not surprisingly, I am the next chairman of the distant board of directors.
Otherwise, the plan is not so easy to pass.
Letting others subscribe on the eve of the listing, in the case where the distant place is unanimously favored by the outside world, this is actually damaging Li Dong's personal interests.
Now it seems that Li Dong does not care too much, and also uses this form to pave the way for him.
Of course, employee shareholding and executive shareholding increase are indeed conducive to the subsequent integration and stability, otherwise Li Dong will not agree.
But in the end, Li Dong thought about it for a while: "As a result, there are too many shareholders in the group, and it will be a little trouble to go public."
According to current regulations, the number of shareholders exceeds 200, and listing will encounter some policy restrictions.
Yuan Chengdao didn't care too much, and smiled: "This time the choice of A-share listing is not so restrictive.
Because many people want us to be listed!
In addition, the employee's equity will be paid to the employee's shareholding committee for a uniform dividend before the listing, including after the listing.
Shareholders agree that this is fundamental.
As long as shareholders' opinions are consistent, decentralized equity management is unified, and our structure is clear, Yuanfang Holding is an absolute holding.
After doing a little work, listing is still ok.
If you really have too much trouble, you can also give it to Yuanfang Holdings for operation and make arrangements after listing.
Of course, it was more troublesome than it was now.
After all, after going public, if we go up, we will see a lot of losses from the book.
If it does not go up, it will be more troublesome, and employees and shareholders may be reluctant to continue buying.
So in order to avoid these disputes, it is best to resolve these troubles before going public.
On the side of the SFC and the Shenzhen Stock Exchange, I will ask people to consult to see if they can avoid these troubles.
As the largest retail company in China, Yuanfang Retail is also the top retail company in the world. I think appropriate policy easing is possible. "
If you have the strength to speak, you will have confidence.
As a giant among giant enterprises, Yuanfang Retail chose to go public in China. At this time, even if Yuanfang is really not in compliance, it is easy to obtain accommodation.
Li Dong heard him say this, knowing that he had probably talked about it, and nodded with a smile as a default.
...
Yuan Chengdao's plan quickly reached Li Dong.
Dongyu splits most of its business and merges it into distant retail. The value of real estate is there, and there is not much floating space.
Although the investment in the Yuanfangcheng project is not small, its debt is not low.
After integration, the debt will naturally enter the distant retail.
In the end, Dongyu merged into the part, with a value of 40 billion yuan into distant retail.
This value has also been recognized by other shareholders. This is not the same as the mall. The float value of the mall is too large, and everyone is controversial.
But in terms of property, there are not so many disputes.
The remote city and the employee community, of which the remote city is still valuable, the employee community is mainly for the welfare of employees. In this respect, the remote party has made certain concessions. At this time, it is not good to dispute anything.
Once shareholders are rejected by all employees, that is not a good thing.
Coupled with the largest number of shares in the distance, Li Dong took the lead and gave some benefits to the employees. Other shareholders did not have much opinion.
After Dongyu's integration, Yuanyuan Retail once again saw some changes.
According to the budget, after the integration of Far East Retail, Far East Holding's shareholding ratio reached 80.1%.
Others' shareholdings have been diluted a bit, but not as much as the previous dilution.
The total value of distant retail also reached 412 billion yuan in one fell swoop.
According to Yuan Chengdao's idea, at a price of 10 yuan per share, a total share capital reset was made, and the total share capital of the retail group reached 41.2 billion shares.
After that, another part will be added for employee subscription and the increase of executives and shareholders.
Yuanfang Holdings keeps the original share capital unchanged. In this way, the proportion held by Yuanfang Holdings will be reduced to below 80%, which will not damage the controlling rights of Yuanfang Holdings, but also make the group's shareholding structure more stable.
As for how much new capital was added, Li Dong glanced at it, and soon met Yuan Chengdao once again.
In the office.
Li Dong held the document and said: "Are you sure it is feasible?
An increase of 2.8 billion shares, according to the price of 10 yuan per share, that is 28 billion.
This time it's mainly internal. Are you sure that you can digest so much from afar? "
Yuan Chengdao smiled: "Mr. Li, you too underestimate people from afar, and underestimate other shareholders.
In fact, this is still the plan given after I made restrictions.
Otherwise, an increase of 2.8 billion share capital is not enough.
Those alliance enterprises that cooperate, hope that we can open up a higher quota for them.
They don't talk about it, just talk about ourselves.
Before you agreed to the plan, I mentioned it a little bit with others.
As a result, these ordinary poor guys suddenly became rich!
Even President Sun said arbitrarily that he wanted to increase his holdings of 30 million shares. In addition to his original holdings, his holdings reached exactly 700 million shares ... "
Li Dong was dumbfounded and said, "30 million shares? That's 300 million. Where did he get so much money?"
Yuan Chengdao said with a smile: "I was also surprised at first, but then think about it, it is normal for Mr. Sun to have money.
You forgot, did you give Mr. Sun 100 million in compensation before?
In addition to these years, Mr. Sun's own savings and personal investment have also made a lot of money. Although less than 300 million, Mr. Sun also holds some Weibo and Teng Xun stocks and makes some mortgages to make up 300 million It's almost the same.
This opportunity is rare. President Sun has emptied his family. His equity holdings are higher than ours and the upper limit is also higher than ours. Naturally, he will not give up this opportunity. "
Li Dong couldn't help crying: "I thought he had no money now, but if it wasn't for this plan this time, I'm afraid he was hiding it.
I knew that he was so rich, so I should fight the autumn wind more often. "
"Who said no? We were also surprised. Mr. Sun is a regular visitor in the cafeteria, so he ate less in the cafeteria after marriage. Do you say that all rich people are so cheating?
The company canteen is free, of course, if you want to order, you have to pay extra.
But that is for ordinary employees. For Sun Tao, they have almost no restrictions. Anyway, it doesn't cost money.
But no matter how good the cafeteria is, these executives will not go there every day.
Sun Tao, however, usually goes to the cafeteria to eat in the company.
Yuan Chengdao's words fell, and Li Dong glanced at him: "How about you? How much did you subscribe this time?"
Yuan Chengdao sighed a little bit: "I don't have money for Sun. This time, I've gotten together and subscribed for 5 million shares. This is the limit."
Li Dong glanced at him. This has only been able to make up 50 million yuan in the next few years?
Won't it be greedy?
Of course, just think about it, these guys are so brave, even if they are really greedy, they dare not take it out at this time.
It can be seen that this 50 million should be Yuan Chengdao's own accumulation.
As for fighting together, it won't be too bad. This guy has also received a few million years of annual salary.
As executives in the distance, they won't put the money in the bank when they get the money. They also have their own investment channels.
The higher the position of the station, the easier it is to make money.
They know a lot, and know a lot of news. Sometimes Li Dong accidentally revealed a little bit. In the stock market in 2008, many of these guys followed the autumn wind and made a lot of money.
It is not uncommon for Yuan Chengdao to come up with 50 million yuan for two visits.
Even if there are gaps among the other board members, they will not be too big, they are all considered rich people.
The subscription at 10 yuan per share this time is a must-have, and it is normal to buy iron and sell iron.
The total value of distant retail now is only 400 billion yuan, no one will think that the price of distant retail is the same after listing.
Really want to double up, now how much to buy and how much to earn, these people naturally buy to the limit.
Since Yuan Chengdao felt that it would be no problem to issue 2.8 billion more shares, Li Dong did not say anything, and thought about it: "So, then there will be another 28 billion of funds in the retail side soon?"
"Correct."
"We have money to spend as soon as possible. Property, stores, and distant cities are now time to spend money, especially distant cities. Because of funding problems, we have been unable to speed up the construction period.
Now that Yuanfangcheng is merged into retail, the funds are sufficient. I hope that soon after the Chinese New Year, Yuanfangcheng will be officially opened. "
Yuan Chengdao nodded, and now the funds for distant retailing are still abundant. Although the previous 300 billion has spent a lot, it can still leave hundreds of billions of funds.
Coupled with the capital for this subscription, it is also a good thing to spend the money and quickly convert it into strength.
He mentioned last time that he would increase his investment in Yuancheng City. In this way, even in the face of capital problems, Yuancheng City can be used as an emergency measure to quickly return funds.
In the past, Dongyu was not merged, and because of capital restrictions, it could not be expanded. Now, after the merger, there is no restriction.
The two talked about equity subscription for a while ~ EbookFREE.me ~ Finally, Yuan Chengdao thought and said: "After several mergers and integrations of Yuanyuan Retail, the scale is now extremely large.
I do n’t actually worry about anything else now. I ’m afraid that after the listing, can A-shares support distant retail? "
Li Dong disagreed and said with a smile: "The domestic potential is actually much larger than that of the Xiangjiang stock market. Xiangjiang can feed Teng Xun, not to mention A shares.
Don't look at it. Everyone is going to go to Xiangjiang for listing now. I can't use it for a few years. These people have to find ways to go inland.
Moreover, distant retail is only suitable for listing in the mainland, no matter what the market is, we have no choice. "
Yuan Chengdao said nothing, but in fact Li Dong said that he could only go public in the mainland, which is not entirely true.
Going to Xiangjiang, or going public at the same time, may not be impossible.
However, he understood Li Dong's meaning. Only picking A shares may have some limitations and drawbacks, and the security is also high.
Li Dong used to seek change, but now he seeks stability.