, providing you with wonderful reading of the Roadshow on No. 26, mainly accepting subscriptions from investment institutions.

When a company goes public, the shares offered are generally divided into two parts, the international allocation part and the public offering part.

The international allocation part is actually prepared for investment institutions.

The public offering of shares is prepared for retail investors.

This time, Tengxun International allocated 680 million shares and planned to raise HK$34 billion.

300 million shares are sold publicly and plans to raise HK$15 billion.

Teng Xun's over-allotment ratio is actually not high, with only 20 million shares and plans to raise 1 billion Hong Kong dollars.

Because the currency exchange rate continues to change, the exchange rate ratio between the US dollar and the Hong Kong dollar is close to 1 to 8. In fact, Teng Xun's financing scale this time is less than 6.5 billion US dollars, and at the current exchange rate, it is close to 6.3 billion US dollars.

The international allotment part, including the oversubscription part, has a total of 700 million shares, 35 billion Hong Kong dollars, and is close to US$4.4 billion.

For Teng Xun's senior management and remote management, the minimum expectation set by everyone on-site subscription funds on the first day is 500 million US dollars, reaching 1 billion US dollars, even if it is a complete success.

After all, there are still many days for the subscription period for international stock allocation, and the oversubscription multiple is generally not calculated in the international part, but only the retail part.

Therefore, as long as the subscription funds of investment institutions reach US$4.4 billion, the impact on the subsequent listing will not be too great.

The rush to buy retail investors actually attracts outsiders' attention.

...

The executives of Yuanfang all felt that it would be successful if they reached 1 billion US dollars on the first day.

However, when Li Dong made a promise at the roadshow site, the next scene surprised everyone.

Since the investment institution has come to the roadshow site, it is actually optimistic about Teng Xun.

Even if Li Dong didn't say anything on the spot, the subscription amount would not be too low.

It's a risky thing, not to mention that Teng Xun's risk is not big, and the future is promising.

At this time, Li Dong once again reduced the risks of investment institutions. If you don’t subscribe at this time, when will you wait?

...

When Li Dong walked off the stage and Liu Hong announced that he could accept subscription and signed the letter of intent, a group of investment managers rushed to the front almost instantly.

These institutions have not as strong funds as large investment banks, nor have they bargained for capital.

While the big institutions are still considering, we should take the initiative first to avoid the subscription amount of Teng Xun. In the end, other big institutions will have the opportunity to over-allot the Teng Xun again, but they don’t have this opportunity.

The others rushed towards Liu Hong, and Liu Qin squeezed for a while, squeezed to Li Dong, and said, "Li... Cough cough, Goldman Sachs subscribed 200 million US dollars, Lenovo Holdings subscribed 100 million US dollars. My father did not come this time, but he called me before and told me that he must fully support the far side and support Teng Xun!

This time, on behalf of Goldman Sachs and Lenovo Holdings, I subscribed a total of US$300 million in share…”

Liu Qin was originally going to call Mr. Li, but when she saw Li Dong grinning at her, Mr. Li forced herself back, but she couldn't shout the title of Uncle Li.

After she finished speaking, Li Dong smiled and said, "What's the use of subscribing to find me? I'm just here to stand on the stage and you can find someone else.

What's more, Goldman Sachs is one of the underwriters. As long as you comply with the rules, you can subscribe as much as you subscribe.

Why, Goldman Sachs thinks HK$50 is not high?"

If these underwriters feel that the pricing is still high, they will not subscribe at this time.

The advantage of underwriters is that they have great autonomy and can participate even in the end.

Now Liuqin represents Goldman Sachs and subscribes to a share of US$200 million on the first day. Obviously, Goldman Sachs thinks the price of HK$50 is acceptable.

They were a little worried before, but as soon as Li Dong said this today, the on-site subscription gave some promise guarantees. At this time, they didn't hurry up. By the end of the subscription, Li Dong did not say promise guarantees.

Liu Qin didn't care about his jokes and said with a smile: "I am not from the same department as them, and both sides are not related. I represent the investment department."

Goldman Sachs Group has many industries and departments, and the underwriting team and investment team can indeed be viewed separately.

But if the underwriting team feels that it is not good, the investment department will not spend money randomly, and even if it wants to spend money randomly, the headquarters will not agree.

Even if Li Dong heard Liu Qin's words, he was not too serious. He smiled and nodded and said, "Then you can do whatever you want, but you represent Lenovo Holdings? Why do you want to go back and take over?"

Although Liu Qin and Yanagawa Shi are father and daughter, they represent different large companies outside.

At this time, Lenovo Holdings entrusts Liu Qin to represent them, which in Li Dong's opinion, is still a bit profound.

Liu Qin shook her head immediately after hearing this, saying, "I don't have this idea or this mind. Besides, there is no question of taking over the joint control side."

Outside, everyone thinks that Shi Yanagawa is Lenovo's boss and the absolute controller.

In fact, Lenovo has a large proportion of state-owned assets. It is actually difficult for such enterprises to succeed second generations, and they usually choose professional managers to take over.

Liu Qin said this, but it was not perfunctory.

Li Dong didn't ask any more, and chatted with Liu Qin for a few simple words, and then started chatting with some investors.

The investment managers of small and medium-sized institutions have all subscribed. Large institutions can still be calm now. As the master, Li Dong still needs to receive them.

What's more, this time, it's not just these investment banks, including some domestic private equity funds and some tycoons from Xiangjiang, which have actually come a lot.

These people have a lot of cash flow on hand.

In Li Dong's opinion, Teng Xun's financing this time is not the only time away. Next, there are many opportunities for everyone to deal with each other.

...

When Li Dong was chatting with the investor, Ma Yun and the others did not disturb him.

This time, they are destined to be just spectators.

However, when everyone saw such a hot situation at the scene, they were still a little moved.

Ding Lei looked at it for a while and sighed: "Li Dapao shouldn't be called Li Dapao, he must be called Li Dabang.

The global financial crisis has not yet passed completely, so where did he get the confidence?

If Alibaba promised this time, it would be a big loss this year."

If Ma Yun dared to say this, the price of privatization this time would have to double, and he would have to spend billions of dollars more. With so much more expenditure, Alibaba itself could not hold on to collapse.

Not only Ding Lei sighed, but also several foreign giants were moved.

This guy Li Dong is extremely brave!

In 2009, the impact of the financial crisis in mainland China was not too great, but internationally, especially in the financial and securities sector, the crisis has not yet ended.

At this time, the stock price soared the day before yesterday and plummeted tomorrow, which is normal.

During the roadshow, Li Dong dared to provide a guarantee for others, but he still had such a large-scale financing plan. It has to be said that almost no one present dared to make such a promise.

Meg stared at Li Dong in the crowd with interest for a while, and finally greeted everyone, leaving early with his assistant and translator.

As soon as she left, Ma Huateng raised his eyebrows and said, "Isn't this person really moved?"

Meg suddenly came to Xiangjiang this time and participated in Teng Xun's promotion meeting. It was an accident. Now he seems to be very interested in Li Dong. Ma Huateng has to suspect that she has the intention to join the distance.

On the other hand, Li Yanhong whispered: "What people are not necessarily looking at is far away, maybe it is Weibo? The election also requires media support.

Weibo has now become very powerful in Europe and the United States.

Of course, Li Dong may not agree."

Everyone knows this. It is best not to participate in politics when it comes to social media abroad, especially social media in China.

It’s easy to say that those who support win, but if they fail, they will be in trouble next.

Of course, this is also an investment. Once the other party wins, it will inevitably give a return.

For politicians in Europe and the United States, giving rewards to supporters is an established rule, not even an unspoken rule.

Once you have to rely on the debt after taking office, your supporters will choose to betray them. Over the years, there has been almost no one who breached the contract with their supporters.

Li Yanhong said this, and the others thought a little.

It can be seen that Weibo may have a greater influence than they imagined, otherwise American politicians would not come to China to seek support.

However, Li Dong may have seen it. They hadn't thought about it much before. Now, when Li Dong poached people, he said that he failed in the election, which actually showed his attitude.

Regardless of whether Meg came to seek support or not, Li Dong was not optimistic about her campaign and would not let Weibo get into trouble.

Thinking about it now, this guy Li Dong has always had a sharp vision, and maybe Meg will fail.

Everyone didn't say much about this, Lei Jun looked at Ma Yun and smiled and said, "Old Ma, how much do you think the intention funds signed on the spot can be reached in today's scene?"

"More than 3 billion US dollars."

Ma Yun did not make any ambiguity and directly gave his own predictions.

Ma Huateng, who was standing by, squinted his eyes and said, "It's impossible to fight 3 billion US dollars. Goldman Sachs, big and big Moto, just now, all domestic financial institutions such as ICBC and Bank of China are also wandering around Li Dong.

In addition, long ago, Xiangjiang and some private equity funds in the mainland had already agreed, and the subscription amount would not be less than US$500 million.

Even if the on-site did not meet expectations today, these people would take action.

There are still many people in China who trust Li Dong very much, it depends on whether these institutions in the Far East want to raise their subscription amount again today.”

For iPo companies, it is inevitable to determine some subscribers in advance.

We can't really let the scene fade. Even if no one cares about it today, there will be people who will take action in the end, including some domestic tycoons and private equity funds.

Looking at the current scene and what Li Dong just said, these institutions should also conduct on-site subscriptions today.

Seeing the scene so popular, it’s not necessarily possible to stop it for 3 billion US dollars.

Ma Yun was refuted and didn't care. He smiled and said, "Let's go, Teng Xun's recommendation will be very popular, but it is actually a good thing for us.

But even if it is a good thing, we won’t be in a good mood in the future if we stay.”

As soon as these words came out, everyone nodded.

Teng Xun is popular, but it is actually a good thing for IT companies.

But the more popular it is, the more you need to be careful of Li Dong's vicious tongue, especially Ma Yun. If you don't leave, you will be stabbed by Li Dong later.

It is better to leave first when Li Dong is not available now. As for the subscription funds, they don’t ask about them, and Teng Xun will also disclose it to the public in the future.
To be continued...