"Director Jiang, how should we determine the issue price?" Sun Jianyun continued to ask.

He has not been home since the Chinese New Year this year. He has been busy in the city with his family and beverage factory restructuring team.

However, there are some things that they cannot do overtime, and Jiang Xiaobai still needs to make the decision.

"Issuance price?" Jiang Xiaobai had a headache. When every company goes public, it is a headache to determine the issue price.

The issuance price is not like the original stock price. The original stock price is generally priced at one dollar, and is basically priced based on the registered capital.

This doesn't matter, ordinary people can't get the original shares, the main issue is the issue price.

If the issue price is set at a low level, the company will lose money; if the issue price is set at a high level, no underwriters will be willing to sell, or if it cannot be sold, then it will not be able to raise funds.

Therefore, pricing a company's stock issuance price has always been a difficult problem.

"How to price?" Jiang Xiaobai also had a headache. There are generally three pricing methods for pricing the issue price, including the price-earnings ratio pricing method, the net assets multiple method and the bidding determination method.

Basically no one uses the price-to-earnings ratio pricing method now. The price-to-earnings ratio pricing method is the main pricing method for new stock issuance in later generations.

The latter two methods are the most commonly used today.

The net asset multiple method determines the net asset value per share of the issuing company's proposed assets through asset evaluation and related accounting methods.

Then the net asset value per share is multiplied by a certain multiple based on the conditions of the securities market to determine the stock issuance price.

It is also the most commonly used method nowadays and is determined through asset evaluation and other means.

The bidding determination method is not used by many companies now.

Because the underwriter does not agree, the company can only use this method unless the company's development prospects are particularly good.

Stock underwriters or investors compete with each other through bidding to determine the stock issuance price.

The final result is of course the one with the highest price.

Jiang Xiaobai thought for a while and said: "Let's use the net assets multiple method to determine the approximate price of the share price of our home and beverage factory.

Finally, we bid through the underwriters, and the one with the highest price wins.”

Sun Jianyun nodded. This method is of course the best, but the key is whether the underwriter can accept it?

Jiang Xiaobai understood Sun Jianyun's worries and said with a smile: "So you must pay attention to this promotion meeting..."

"Okay!" Sun Jianyun nodded. In the end, the task fell on him, but he had no possibility of refusing.

He is the director of the Jiahe Beverage Factory. He holds shares in the Jiahe Beverage Factory. If he doesn't work, why should he get the shares?

Moreover, he is still holding original shares. As long as Jiahe Beverage Factory is listed, he will be able to make a lot of money.

When I came to Huaqing Holding Group a few years ago, who could have imagined what it would be like today.

In the next three days, Jiang Xiaobai didn't even return home, but lived directly in his home and beverage factory.

How many shares are issued for listing, how many shares are issued to employees, how many public shares are issued, etc., are carried out one by one.

On February 26, 1994, just the day after the Lantern Festival, while everyone was still immersed in the festive atmosphere, Jiahe Beverage Co., Ltd. issued a road show announcement.

The road shows at this time were all offline, and there were no online road show projects. Through the Magic City TV station, various newspapers in Magic City released road show announcements and promotional projects.

Jiahe Beverage Factory’s road show only finalized three cities, Magic City, Pengcheng, and Beijing.

Jiang Xiaobai has read the prospectus and has no problems.

On February 28, 1994, the last day of February, Jiahe Beverage Co., Ltd. officially started its road show.

Jiang Xiaobai was dressed in a suit and arrived at the road show on time at nine o'clock.

Sun Jianyun was already there with the senior management of Jiahe Beverage Factory. When he saw Jiang Xiaobai coming, he hurriedly greeted him.

"Dr. Jiang."

"How are you preparing?" Jiang Xiaobai asked.

"Ready, here is the process and speech script for a while, please take a look." Sun Jianyun said.

Jiang Xiaobai nodded, took it and took a quick look, but there was nothing surprising.

"Are there many people here?" Jiang Xiaobai asked.

Sun Jianyun knew that Jiang Xiaobai, the person present, was a dealer, investor, etc., not an ordinary audience.

He nodded and said, "All the securities firms from the Magic City, such as Wanguo Securities, have arrived. Many securities firms from Pengcheng have also come. There are even investors from Beijing and Xiangjiang."

Hearing this, Jiang Xiaobai smiled and nodded, as long as there are as many investors and securities dealers as possible.

When the time reached 9:30, the host took the stage and the road show officially began.

After a brief introduction, everyone was introduced to the stage.

"I would like to invite the chairman of our Jiahe Beverage Co., Ltd., Mr. Jiang Xiaobai." The host said while holding the microphone.

There was fierce applause from below, if only a home and beverage factory were listed on the market.

Although securities dealers and investors will also come, they will definitely not come in so many numbers.

The main reason is that Jiahe Beverage Co., Ltd. is a subsidiary of Huaqing Holding Group and is backed by Huaqing Holding Group. This is the reason why everyone pays attention to it.

Although Huaqing Holding Group has not yet been listed on the market, this behemoth can already make people see how ferocious it is.

Therefore, Jiahe Beverage Co., Ltd. is listed on the market. Needless to say, the price of the company's stocks will not be low, and some people are rushing to get them.

Since they can make money and form a good relationship, of course they are willing to come and support Jiang Xiaobai.

Jiang Xiaobai stretched out his hand to hold up his clothes, then took the microphone from the staff and walked onto the stage.

"Hello everyone, I am Jiang Xiaobai." Jiang Xiaobai said, and then bowed to the audience: "Welcome everyone to attend the promotion meeting of our Jiahe Beverage Co., Ltd., thank you."

"Pah, pah, pah."

Everyone applauded.

Jiang Xiaobai winked at the host.

"Now I invite Sun Jianyun, general manager of Jiahe Beverage Co., Ltd."

"I would like to invite the financial director of Jiahe Beverage Factory Co., Ltd...."

One by one, the home and beverage executives walked onto the stage, and finally the microphone returned to Jiang Xiaobai's hand.

Jiang Xiaobai didn't read the speech script, not because he didn't want to use it, but because the speech script was given to him this morning and he couldn't remember it at all.

Of course, even if they were given to him in advance, he would not carry these things on his back.

So he took the microphone and said: "Now, I would like to invite the general manager of our company, Mr. Sun Jianyun, to introduce our products, operating conditions, market and prospectus..."
Chapter completed!