Chapter 1684: Want to buy no door (for subscription)

"What do you say? This Facebook and Twitter listing, don't work with us? How much is their stock going to sell, how much is sold in total?"
Goldman Sachs’s Ceo Oswego was surprised by the fact that the companies that had been under the leadership of the Wind Turbine Holding Group and the Polar Bear Holding Group had always been sponsors.
Everyone cooperated very well. Every time, Feng Yu and Kirilenko's company were successfully listed. The funds raised were never small. The two super-rich people are also very satisfied. What happened this time?
"The two companies plan to raise about $2 billion each, and the exact amount is not yet fixed, and they have not asked us for an inquiry."
"Who are their underwriters?" Oswego was not happy, this time they didn't become sponsors, but buying some of the two companies' stocks is not bad.
It is well understood that the sponsor is not allowed to hold the sponsor's stock. However, Goldman Sachs has also purchased shares of Feng Yu and Kirilenko's listed subsidiaries through other companies. It is not illegal to operate it.
These Goldman Sachs shareholders do not hold shares in those companies, but their relatives can, this is not illegal, and the profits obtained are not their family?

Still those companies, Baleike Bank, Citibank, Morgan Stanley... became their lead underwriters, of which JPMorgan Chase is the sponsor.

These big financial companies have become underwriters, but they are not without them. What is this?
The commission of the underwriters is still not low, especially the stock underwriting of such high-quality companies is generally relatively simple. Moreover, these large companies have joined forces to act as underwriters, and at the same time can enhance investor confidence, they can not underwrite those junk stocks.

Do you know what it is because of our cooperation?


It seems that because we last time we were a sponsor of the ancient song company, your wife’s company bought a lot of shares of the ancient song company, so it also caused some trouble, which delayed the listing of the ancient song company for two weeks.

"But that time I let the old song company's stock sell to the highest price!" Osborne angered, "And that is my ex-wife, we have nothing to do with the law!"
Although it is said in the mouth, but what the actual situation is, everyone knows.
But even if there are those problems, shouldn't you even ask for Goldman Sachs? Oh, it must be deliberately for other underwriters, they just want to crowd out Goldman Sachs!
Osborne did not know that it was Feng Yu and Kirilenko demanding that the companies that requested this time were all smaller financial companies, which were said to be worried that the other party would subvert their equity in the two companies.
This reason, barely makes sense, but in this way, the price of this stock may not be how high.
In fact, other underwriters are also having a headache. If you don’t see everyone’s cooperation more than once, and the commission is also good, they will not accept the underwriting of this requirement.
Both companies issued 100 million shares, accounting for 25% of the total share capital, but at the time of the inquiry, the issue prices of the two companies were not the same.
Facebook’s inquiry results reached a maximum of $23, which is much lower than their estimate of $26.
Twitter’s inquiry was only $13, which was much lower than their estimate of $17.
Can those small investment companies afford high prices? I really don't know what the two world's top rich people think!
With 100 million shares issued, the funds that can be raised are far below their expectations. Is this enough for the company to develop?
Who doesn't know the network technology company, the most burning money at the beginning. Of course, if you make money, then the speed of making money is also fast.
Those financial companies that have been queried are overjoyed. They didn't even think about it, even they could be queried. But what they didn't even think about was that these underwriters actually hinted that they had a lot of subscriptions.
What do you mean, there are so many circulations, and they are not enough to subscribe so much. Is it that the underwriters have the right to distribute? Or is there an option to over-allot?
In fact, there is no such thing. The right to place the sale will ultimately be decided by two companies.
This time, Goldman Sachs did not become an underwriter or sponsor, not because of a small accident that was issued last time by the company’s stock, but also because they demanded a right to sell.
The right to place a placement, that is, in the case of oversubscription, the underwriter can decide who to sell to.
For example, if 100 million shares are issued, but the number of subscriptions reaches 200 million shares, then what if the 100 million shares are not enough? This will determine who the stocks are sold to and who will be the shareholders of the company.
Feng Yu discussed with Kirilenko and chose the small financial companies or banks that are going to die. The benefits are also very clear to Kirilenko, and of course the disadvantages are clear.
Kirilenko is the same choice as Feng Yu. Just these small companies, let them have a big loss.
I don't know what these companies saw when they saw the stocks they bought so much, and finally fell below the issue price.
Even Kirilenko suggested that if there are more oversubscribed, then you can issue more to these small financial companies or banks to make them pay more.
And be sure to release some good news after the silent period, let them happy first. When the stock price really falls, there are times when they cry.
The final Facebook issue price is set at $24/share, and the Twitter issue price is $14/share, which is the result of these underwriters discussing with Windsor Holdings and Polar Bear Holdings.
Originally they wanted to be higher, but Feng Yu did not agree. In fact, Feng Yu believes that it can also be sold, but the number of oversubscriptions may not be so much, and it will not be able to get into these small financial companies and banks.
Only by letting these small financial companies and banks go bankrupt can the financial crisis in the country become more serious, and it will bring more adverse effects to the economy of the country, and more narrow the gap between China, Russia and the economy of the country.
On the day of the listing, it was very lively. Little Zach and Twitter's Evan ringed the clock together. Both of them were red-faced.
The result was not Feng Yu's expectation, and the number of subscriptions exceeded the circulation by more than double, and the two companies also chose their new shareholders at the request of Feng Yu and Kirilenko.
Those investment institutions that buy stocks are overjoyed, and those who have not bought or sold are confused. They have subscribed so much, and they have not even scored one?
Why do those small financial investment institutions and banks get so many stocks?
Fengfeng Holding Group and Polar Bear Holding Group will regret it, Feng Yu and Kirilenko will also regret it, will definitely! (To be continued.)