Weizhi Search is preparing to go public in the United States, and according to the rules, it is necessary to find an investment bank as the lead underwriter.

Fang Dagang is the person in charge of Weizhi Search's listing in the United States. After studying the case of Chinese stocks listing in the United States, he was worried and always felt that the big boss regarded the Americans as an idiot.

The reason is very simple.

Weizhi Search's total share capital is 300 million, and it issuance of 40 million American depositary receipts in the United States is only 13% of the total share capital, but the funds to be raised are no less than 2 billion US dollars. The price-to-earnings ratio of up to 1,000 times means that according to current financial data, it takes a thousand years for investors to buy shares to be repaid.

But in fact, Fang Dagang was surprised. After the invitation was sent, Goldman Sachs, Merrill Lynch, Credit Suisse's first Boston, Citigroup, and Deutsche Bank all flocked to the world's top investment banks.

Headquarters building, medium-sized conference room.

Fang Dagang sat upright, facing the investment bank representatives on both sides of the long table. The projection screen behind him showed Weizhi Search's plan to go public in the United States.

Forty million American depositary receipts, each is equivalent to one share of ordinary A shares in China. The 20 million B shares held through the VIE structure, and the voting rights of each share are equivalent to ten times the common shares. As long as these shares are not sold by shareholders, the status of the major shareholder cannot be shaken.

"The board of directors has only seven places in total, and Wei Zhi Search does not have an observer seat. Wouldn't that mean that the holders of depositary receipts only have the right to suggest but have no veto?"

A question from a representative of an investment bank caused some noise in the conference room. Ran Ying stood up and said. "Weizhi Search adopts a two-layer equity structure, which is to prevent foreign shareholders from interfering with and obstructing the company's operations because they do not understand the mainland market. Some Internet companies have introduced foreign capital, but in the end it is all because of the investors' willful actions, which has caused companies that should have extremely strong competitiveness to lose their competitiveness. In view of this, Weizhi Search must prepare for the future, which will kill the risk of losing its voice in advance..."

Deutsche Bank representative stood up angrily. "If this is the case, we can only withdraw! Such outrageous conditions are unheard of. This is not an invitation to the principal seller, but a search for a sucker!"

Ran Ying glanced at the door of the conference room. Then he looked at the other party and said, "There can only be two of the principal salesmen of Weizhi Search. The withdrawal of either party will bring convenience to subsequent screening. Thank you for your visit..."

The representative of Deutsche Bank was stunned. Seeing that the other investment bank representatives present were all indifferent, they even seemed a little happy about his withdrawal, and their faces turned red and shrugged. "Deutsche Bank still has a great influence in Europe, but there is a saying in the investment industry that when a sucker is far more profitable than being a smart person, please continue..."

"Christmas will be in three days. I'm sorry to invite you here at this time. We don't want the negotiations to be too long, which will make it impossible for everyone to spend Christmas with their families. So to put it short, the major shareholder of Weizhi Search can provide double insurance for this prospectus. If Weizhi Search's development speed in the next three years is lower than expected and the return on investment is less than 20%, Weizhi Technology promises to repurchase shares at an annual appreciation rate of 8% and if you are willing to give up this power, you can obtain three percent of the preferred stock purchase rights from the major shareholders at a 30% discount on the average monthly price in three years, but there is only one place..."

A total of 40 million shares were required to issue, with an issue price of USD 50 per share and a price-to-earnings ratio of up to 1,000 times. The representatives sent by the investment bank were dissatisfied, but when Ran Ying announced the situation of the pre-orderer, the atmosphere in the conference room suddenly became strange.

Former Microsoft founder Allen, booked two million shares.

The three giants of DreamWorks, each booking 500,000 shares.

The richest man in France, LVMH Group, has booked three million shares.

Luxury giant [PanFrench Investment Holding Company], with two million shares scheduled.

Earl Alexander, general manager of Dijin Winery, booked 500,000 shares.

Roman, former richest man in Russia, is currently the chairman of Chelsea Football Club, and is scheduled to be 5 million shares...

The three-page list of bookers and purchases made the investment banks present lose their voice.

If this list is real and effective, then Weizhi Search's plan to go public in the United States can actually not have any relationship with investment banks. The number of shares that the buyers want to obtain is as high as more than 60 million shares. However, Weizhi Search only issues 40 million depositary receipts this time. Could it be that Weizhi Search has not yet been listed publicly? It requires investment banks to act as competitors and start shorting nakedly in advance?

"OK! OK! I understand what you are thinking. Weizhi Search's plan to go public in the United States is not to tease everyone. Mr. Fu, the founder of Weizhi Technology, is the richest man in the world. The listing of Weizhi Search, a subsidiary of Weizhi Technology, is not a problem for him personally. It is just that the procedures that should be followed must be followed. Therefore, the meaning of the existence of lead underwriting is to promote Weizhi Search to be recognized globally. The purpose of stock listing is not because Weizhi Search is short of money, but Weizhi Search needs to further improve its international influence, enhance its corporate image, and bring more abundant investment returns to shareholders, so..."

"We Goldman Sachs are willing to become the lead contractor of Weizhi Search's listing in the United States, and the fees can be reduced by 10%..."

"We Deutsche Bank hope to obtain the status of lead underwriter, reduce the fees by 20%, provide market-making funds of no more than 200 million euros, and reduce the interest rate by one percentage point..."

"Our Merrill Lynch's experience in market making is unquestionable. The issuance fee can be reduced by 30%, the market-making funds can provide 300 million US dollars, and the interest rate can be reduced by 1 and a half percentage point..."

The investment banking team, who had reacted, entered a quarrel mode. Although they were not cursing, they completely stunned Fang Dagang, who had never had the opportunity to speak. The translation in a simultaneous voice beside him was even more difficult to translate everyone's speeches to him, so they had to pick up paper and pen and record the conditions of the investment banks.

Seeing Fang Dagang looking stunned, Ran Ying sat down and said, "Mr. Fang, this matter is done. The rest is the question of qualification selection..."

Fang Dagang looked in disbelief. "Is it really settled?"

"Yes, that's it. In fact, if it weren't for listing in the United States, there must be a lead dealer, and whether these investment banks are involved, it would be really dispensable. Mr. Fu's sensitivity in finance should not be doubted..."
Chapter completed!