Rebirth of the Official Business Route

Chapter 1020: An Alternative Plan to Prevent Contingencies

The weather in Hong Kong in the middle of the month is hot. As an island city. There is also a slight fishy smell in the air. Standing in the empty pick-up hall. Looking through the crowd and the glass door, it is raining lightly outside the hall. The water vapor outside is erratic and hazy. Go to the door and watch a flock of black birds fly low in the rain. Zhai Danqing took a breath. I think Hong Kong is really stuffy. Suddenly, Tang Jing, who was holding Zhang Ke's arm, came over and looked at herself.

Ah. Are you talking to me? Zhai Danqing came to his senses. asked. Novel chapters are updated the fastest

Hong Kong. Is there anything you particularly want to go to. Zhang Ke can't come up with any exciting suggestions. Tang Jing said.

Danqing stretched out a tail. She scratched her temples gracefully. He smiled and said: Jianye's spring this year is relatively dry. There is not much rain. Find a place to sit down and watch the rain outside the window. It is quite a pleasure for me-and I don't have anything in particular to go to the square.

Then let's go to the beach. Listen to the weather forecast. The rain is going to get heavier. Tang Jing said.

Zhang they have no wine,. Go straight to the pier near the hotel and find a coffee shop to sit down. The aroma of coffee filled the air. In the dim store online, the rain is getting heavier outside the window. It will feel a touch of luxury and decadence. Fiction novel chapters are updated the fastest

Zhang Ke is not in the mood to appreciate the petty bourgeois sentiment in the rain. Ye Jianbin and Sun Shangyi are going to meet with Liu Chengwei and some officials of CNOOC's IPO working group at the coffee shop later.

Among the domestic oil giants. The chief executive of CNOOC is the youngest. But the scale should not be underestimated. The total assets of the oil exploration, production and sales business planned to be listed in Xianghai this time are nearly 24 billion. Net assets over 11 billion. This is also the core asset of CNOOC. They are all placed under the banner of CNOOC, the company to be listed.

This time, CNOOC plans to raise US$1 billion in 24% shares of the Hong Kong Stock Exchange. 10 US dollars is not much, at this time, we can barely come up with 1 billion US dollars.

Since its establishment, Kumho Commercial has raised as much as US$1.6 billion in Southeast Asia through various means. At this time, only 6 consecutive investments of 600 million US dollars were made. Projects such as the Shandao Port Construction Project and the 10-million-ton iron and steel industry base are also ushering in the peak period of construction. Although they are currently undertaking the iron and stone import business of Dongshan Iron and Steel. On the one hand, the iron ore consumed by Dongshan Iron and Steel is limited. On the other hand, the capital strength of Kumho Commercial is so strong. There are more financial means to reduce the tie to cash. Kumho does not exist for the time being.

It's just that if Kumho really wraps up 24% of Zhong Hai's equity, it's not an ordinary financial investment. It is a strategic investment that controls 100% of the equity of China Shipping. It can directly affect the development direction of CNOOC. To the management of CNOOC.

CNOOC and CNOOC after China National Petroleum Corporation are the only force for China to develop its offshore oil energy strategy.

In other words, how can all the power at this time allow other capital to exert influence and penetration at the level of development strategy? Even if the high-level criminals in the central government made this mistake in a daze. Those overseas oil giants and other capital forces will also swarm over three feet after smelling the smell of meat. Squeeze Kumho away.

Even financial investments through public market participation on the Hong Kong Stock Exchange. Kumho can't be too pushy. Directly contribute 300 million U.S. dollars to participate in the new stock market, and the shareholding ratio has reached 72%, which is almost the limit-if the financing goes well. The financial structure of Kumho Commercial is the best, with a shareholding ratio of 5-6%.

Ye Jianbin, Sun Shangyi and Liu Chengwei walked in. Plus entourage and driver. The small coffee shop is packed to the brim. It is the representative of CNOOC's stock bank.

Liu Chengwei didn't mind Zhang Xuan meeting him in such a sincere way. During this period of time, he had been running back and forth between conference rooms all day. Seeing the long conference table in the conference room will make you feel disgusted. It is still the strong coffee in this small shop that makes people feel comfortable.

Although Kumho takes a financing share of US$4. There is also a lot of pressure on the remaining 600 million US dollars. In particular, there have been many negative reports on CNOOC in the Hong Kong media recently. Liu Chengwei and other CNPC senior executives have no experience in dealing with these issues and are still very passive.

Zhang Ke asked Liu Chengwei and others to open the door and said: The situation is more pessimistic than we expected. The economy is also somewhat turbulent. The temperature in North America is getting warmer. Crude oil consumption in North America is also weakening. Oil prices in June are likely to rise further. Down. Let’s talk about alternatives to failure.”

Liu Chengwei didn't know that Zhang Ting could come up with an alternative. Straighten your back. Watching Zhang. Expect him to continue.

New shares cannot be issued. It can also be issued through the United Stock Exchange

coupon. Kumho's direct subscription ratio for bonds can be mentioned higher. It is sure that the oil financing plan can go smoothly. Zhang said.

Liu Chengwei listened to Zhang. The mood is quite complicated. Habitual thinking inevitably made him have some doubts about Kumho's enthusiasm. I glanced at Zhang Ke. You quickly took the trace of doubt out of your eyes. I was still a little ashamed. Kumho made every effort to help CNOOC. This kind of doubt is really inexplicable. Unless CNOOC goes bankrupt and liquidates. No words. The creditor's rights formed through the public issuance of bonds are much weaker to CNOOC than the direct holding of shares.

Liu Chengwei knew that Kumho Commercial could hold huge sums of money. It was also raised through corporate bonds from Southeast Asia Huashang Bank. To pay interest on debt to investors. If Kumho then CNOOC to buy bonds. The interest received on this part of the fund employed will not be much higher than the interest paid on the debt. It can be said that it is almost unprofitable to sell. At least much lower than the expected return on equity investment. And this part of the funds used is - huge. It will seriously affect the development plan of Kumho Commercial. Liu Chengwei pondered for a moment. Looking at Zhang Ke. Still asked: Why? His tone was very sincere.

I have learned that this financing is very important to the development of CNOOC and the development of the national offshore oil industry. Zhang said. Kumho is a commercial organization. It should take the pursuit of commercial profits as its own responsibility. Otherwise, it will be a job-we have seriously thought about it. Kumho's interests can be consistent with national interests. Only by going further in the future. Buy CNOOC At least it won’t be a loss-making business—besides, the plan for the New Stock Exchange doesn’t necessarily mean that it will fail. I think there is such a precautionary alternative. It will put less pressure on the shoulders of CNOOC executives Of course, we still need to try our best to promote the listing of new shares.”

ninety-nine years. China's offshore oil exploration equipment is almost entirely dependent on imports. Especially equipment for deep sea exploration and mining. The cost is even more huge to an astonishing step. The cost of large deep-sea drilling ships is above hundreds of millions of dollars. Zhong Haishi does not have the strength to buy directly. Even rented. The daily rent is also as high as two to three hundred thousand US dollars. Although the central government will firmly adhere to the development of PetroChina. But the country's foreign exchange reserves are limited. And at the same time, there are too many levels of strategic development that need support. The foreign exchange support for CNOOC is very limited. Overseas financing is an extremely critical step for CNOOC.

Ye Jianbin said: I have communicated urgently with the senior management. If CNOOC is willing to give priority to renting oil tankers from Ocean Shipping, they can also participate in the bond subscription plan.

Participate in China Shipping Bond. Kumho's direct income will drop significantly. But it is not without benefits. CNOOC will succeed in financing. It is bound to promote the development of the national offshore oil industry. The demand for crude oil transportation equipment for offshore oil extraction will surge. CNOOC entered the field of refined oil refining. The demand for long-distance transportation will also increase significantly, and a large number of orders will be able to flow to companies in which Kumho Corporation has a stake, such as Nanyang Shipping and Dongshan Shipbuilding Dongshan Iron and Steel. Increase the marginal income of Kumho Corporation.

Issuing bonds is only a last resort alternative. In order to dispel the concerns of CNOOC executives. It also allowed CNOOC executives to agree with Kumho to make suggestions for overseas listings at a deeper level. Although CNOOC can issue bonds through the open market after its successful listing. But that's another concept.

Now the media is mainly questioning whether CNOOC's monopoly monopoly will be impacted. Zhang suggested that CNOOC executives should be more flexible in their response. on the other hand. It is hoped that CNOOC will push the main door, the State Economic and Trade Commission, to take a tougher stance on the monopoly and franchise rights of the oil industry.

CNOOC's overseas listing. The State Council attaches great importance to it. In addition to the exhibition of the offshore oil industry. China is actively promoting its accession to the World General Agreement on Tariffs and Trade. Promote the overseas listing of large state-owned enterprises. Canada and the integration process of the global economy. Increased opening up is a pre-condition for promoting customs entry.

Although don't expect Zhongcai to allocate an extra billion dollars to CNOOC. It is possible to make the sound of the State Council's text clear.

Talked a lot with Liu Chengwei and others in the coffee shop. It is also more practical to understand the difficulties encountered by CNOOC in listing.

In the first half of 1997. Stocks in Hong Kong's stock market are in hot demand. As long as there are state-owned enterprises listed in Hong Kong for financing. Almost all of them were subscribed by ten times or dozens of times. And CNOOC won no shadow orders at this time. And it must also be considered that a considerable part of these shadow orders will be withdrawn at the last minute. Strictly speaking. Kumho's promises also fall under the concept of shadow orders. It is impossible to sign a formal financial investment agreement.