Reinventing the Millennium

Chapter 293 Poison Pill
Sina has set an extraordinary general meeting of shareholders to be held on June 6.

This time was not concealed from the media, and it was not long before MIGA's request, so everyone felt Sina's tough attitude almost immediately.

Do you want to hold a shareholder meeting?
Okay, don't delay, just come.

You want to control Sina?

Okay, let's try the poison pill plan.

Although Duan Yongji, the co-chairman of Sina's board of directors, only accepted one interview and did not show up again, his initial statement and the subsequent interviews with Sina executives all showed Sina's firm attitude to fight a defensive battle.

Because of Sina's special status, and because of the domestic and foreign acquisitions, many media have reported, commented and analyzed this incident at length.

Can the MIGA Fund Succeed?

Sina odds geometry?

Why did MIGA seek control of Sina?
And so on, so lively.

As the president of a venture capital institution that is firmly optimistic about the development of the domestic Internet industry, Xiong Xiaoge also paid attention to this incident with great interest, reading newspapers and watching news online every day.

Sometimes, he would take time to participate in the comments and discuss the meaning of the action of the MIGA Fund.

However, on the day of June 6th, when Xiong Xiaoge was free to click on the ins and outs of Netease's series of reports, he suddenly saw a familiar name.

"On June 6th, Sina elected a new board of directors, chairman Jiang Fengnian, co-chairman Duan Yongji, co-chairman Wu Zheng, director Mao Daolin, director Davis, director Wang Yan, director Feng Bing..."

"It is reported that the MIGA Fund's shareholding in Sina began in February this year. Davis joined the board of directors of Sina for the first time, followed by a substantial increase in Sina's shares."

Xiong Xiaoge's reading speed was very fast, and he scrolled down the page just by looking at it, but when he moved the mouse, he suddenly felt something was wrong, as if a strange name had been mixed in.

Feeling dazzled, he turned the page again and almost popped his eyes out.

Frozen?

Is it the Feng Bing I know?
Is it the Feng Bing I thought of?

Because there is relatively little contact with this surname in the circle, and because Fang Zhuo asked him to introduce his new investment company a while ago, Xiong Xiaoge is a little sensitive to "Feng Bing".

No way, no way, it couldn't be that Yike Investment got involved, right?

While staring at the screen, Xiong Xiaoge directly called Feng Bing.

"Hey, Mr. Feng, what's the situation with you and Sina?" He asked directly.

"Waiting for the temporary shareholder meeting." Feng Bing said without hesitation after receiving many similar calls in the past few days.

Xiong Xiaoge was stunned: "Are you really a director at Sina? No, Yike invested in Sina? When did it happen? Isn't the company not long ago? How did you become a director? What does Fang Zhuo mean?"

Hearing so many questions at once, Feng Bing wondered: "I just listened to Mr. Fang's arrangement to join Sina's board of directors. Anyway, the meeting in Sina these days is to follow everyone's wishes. Well, Mr. Fang asked me to do this. of."

Xiong Xiaoge: "..."

After a long while, he asked, "How many shares does Yike Investment own in Sina?"

"10.1%." Feng Bing replied.

Xiong Xiaoge questioned from his soul: "Where did Yi Ke invest the money?"

"Mr. Xiong, what do you mean?" Feng Bing didn't know where the company got the money from, but he couldn't say that, a puppet also has dignity!
Xiong Xiaoge shook his head: "Forget it, I'll call Fang Zhuo."

The phone hangs up.

Xiong Xiaoge stared at the screen, feeling that the words "Director Feng Bing" seemed to be slowly changing into "Director Fang Zhuo".

He dialed directly, and asked without waiting for the other party to speak: "Fang Zhuo! Why did you get involved with Sina! Where did you get the investment money!"

Xiong Xiaoge suspected that Fang Zhuo had embezzled Yike's money, so why did he buy Sina's shares just after financing the A round? ?

"The financing money has not been moved, I borrowed it from the bank." Fang Zhuo knew what the old bear was thinking.

Xiong Xiaoge breathed a sigh of relief, but still doubted: "Really?"

"Well, really." Fang Zhuo said affirmatively, "The money raised from the financing is used to buy music copyrights and cannot be moved, even if I am optimistic about Sina."

Xiong Xiaoge didn't believe it all, he had a feeling that he would suddenly jump in when he saw the news, and asked angrily, "Why did you go to Sina to fool around?"

"Oh, it's a non-executive director, Mr. Feng." Fang Zhuo said evasively, "I'm optimistic about Sina."

Xiong Xiaoge thought for a while, but he didn't expect that the hostile takeover would be related to this guy. He gossiped with great interest, "In a few days, it is said that there will be a temporary shareholders' meeting. Sina will compete with MIGA. Who will win?"

Fang Zhuo pondered: "This wave, this wave must be won by Sina. Old Xiong, you can take this opportunity to buy some stocks."

Xiong Xiaoge let out a "huh": "Sina is so messy, I don't want to buy it."

The behind-the-scenes person who is a non-executive director of Sina said displeasedly: "Is there anything else? It's okay to hang up. I'm busy."

"What did you come back from New York? Just for Sina?" Xiong Xiaoge asked.

"Mr. Yu is talking with Apple, and the channel is working hard. I will go back to China to check the market situation, and I will record a program in Beijing by the way. It is still a favor." Fang Zhuo said, "Sina, it is easy."

When Xiong Xiaoge heard about Yi Ke, he shifted his attention and chatted energetically.

Fang Zhuo chatted with him for a while before ending the call.

As soon as he put down his phone, he received a call from Feng Bing, vice president of Yike Investment, saying that Sina would officially launch a private placement. Except for the MIGA fund that triggered the equity line, the old shareholders of the board of directors could buy additional shares at a discounted price.

"President Fang, the board of directors has some disagreements on the amount of additional issuance." Feng Bing said.

Although the private placement can reduce the shareholding ratio of the hostile acquirer, the stocks bought by the old shareholders will also enter a state of restricted sales. In case Sina's future is shattered, everyone will be locked up.

According to Duan Yongji, the number of additional issuances does not need to be too much, just suppress the arrogance of MIGA, let the other party know that it is really not a verbal talk, and then talk.

"Well, just follow Wang Yan's opinion, follow Duan Yongji's opinion, and vote for them if you need to vote." Fang Zhuo ordered, "You don't have to argue with them, and you don't have to express any opinions."

Feng Bing said: "Okay, Mr. Fang, then... do you want to come to the meeting for additional issuance and purchase?"

"I won't go, so as not to meet each other unhappy, as much as Sina's additional issue, Yike Investment can buy as much as it can support within the rules." Fang Zhuo said affirmatively, "Others dare not express their opinions, and Yike expresses their opinions, others dare not." Buy, Yikebuy."

Feng Bing was introduced by Xiong Xiaoge, and he is currently taking on the role of a puppet director. He doesn't know the boss's plan, so he hesitated for a while: "Mr. Fang, should you think about it again? This seems a bit reckless."

"It's not something you need to think about, just do it." Fang Zhuo said lightly.

Feng Bing thought for three seconds and understood that Mr. Fang and Sina Fang had insider trading.

Fang Zhuo didn't know what the vice president of his family was thinking, if he knew, he'd probably be right.

There are still three days before the extraordinary general meeting of shareholders, and what he is considering now is not a veto holding, because with the start of additional issuance, the result will be very different.

What needs to be considered now is how to control Sina. The means of the capital market alone are not enough. If this group of people directly leads a group of backbones to resign and leave, an empty shell is likely to miss the most rapid stage of domestic Internet development.

This is a difficult problem. After all, capital means are somewhat intense, but not intense is not enough.

Fang Zhuo felt that such a situation required some wisdom and a little cunning.

Coincidentally, I have both.

(End of this chapter)