The Son of Finance of the Great Age

  Chapter 380 A Rare First Time

  For a long time, the performance of the Hong Kong stock market has been based on the performance of the European and American markets. Specifically, if the London and New York stock markets perform well, then the Hong Kong stock market may rise the next day, or it may not fall too much. On the contrary, if the performance of the first two is not good, then the Hong Kong stock market will perform badly the next day.

  To be honest, the status of Hong Kong's economy in the global economic sector is not important, the reason is that the area of ​​this place is too small, and most of the time Hong Kong plays the role of a cargo transfer station in the global economy. It is this role that links the performance of the Hong Kong economy to that of the European and American economies, and also makes the performance of the Hong Kong stock market depend on the performance of other markets most of the time.

The stock market crash in 1987, firstly, because the British market was afraid of the hurricane, they all shorted the market to hedge, which led to the decline of the New York market on Friday. This decline affected the performance of the Hong Kong market, and the decline of Hong Kong stocks later affected the performance of London. , which in turn triggered the entire global market into a state of extreme panic, chaos and disorder.

  However, on this day, due to the sluggish performance of the Hong Kong market, the Hong Kong dollar may be attacked, making the global market more worried about the currency crisis. You must know that so far, there are only a few countries or regions in East Asia that have not experienced a sharp depreciation of their currencies. Of course, this does not include those regions that cannot be attacked. The one in the best condition.

   As a result, due to concerns about the prospects of Hong Kong's economy and currency, London's Financial Times Index fell 98 points all day, or 2%, becoming one of the important markets that were affected. This is also the first time that the lackluster performance of the Hong Kong market has become the main reason for the poor performance of the London market.

  Similarly, in New York, as of the end of the day, the Dow Jones Composite Index fell 222 points, a drop of 2.85%. The same reason is also attributed to concerns about the Hong Kong currency.

  Of course, the financial crisis of Peregrine is also part of it. After all, Peregrine also has business in Europe and the United States, and its brokerage business also has a certain volume of transactions in London and New York.

  This is the first time that major European and American markets have fallen due to the decline in the Hong Kong stock market. It is commendable to say that, but except for short-selling investors, most people are unwilling to see Hong Kong’s impact on the global market in this way.

A few hours after the New York market closed, Hong Kong in the Eastern Hemisphere had already reached the morning of January 10. On this sunny morning, the Monetary Authority's plan on Peregrine's restructuring was delivered to Nian Botao's desk .

  The HKMA's resolution on Peregrine has been documented and published on the website of the SFC Securities Regulatory Commission, and also sent to the senior management of Peregrine.

   Originally hoped to obtain the approval of the reorganization, but instead received a restriction notice on Peregrine Group Co., Ltd., Nian Botao's heart fell to the bottom.

  In this notice, the China Securities Regulatory Commission requires Peregrine Securities Co., Ltd. and PYK Securities (Hong Kong) Limited to take all measures to settle transactions under their names. At the same time, Peregrine Futures (Hong Kong) Co., Ltd. will be allowed to deal with, liquidate or transfer its futures and options contracts on the Hong Kong Futures Exchange due to expiration, and other trading activities will be stopped.

In this notice, ten companies including securities companies, futures companies, fund management companies, mainland financing companies, global financing companies, direct investment consulting companies, and fixed-income consulting companies under Peregrine are on the list. All of a sudden, the business of Peregrine was shut down.

With the arrival of this notice, other notices will soon follow, including that due to Peregrine's inability to repay the principal and interest of the due bonds today, all business related parties with Peregrine Banks have stopped payments to Peregrine accounts; the Stock Exchange has notified the suspension of Peregrine membership, prohibiting trading in Peregrine seats, etc.

"It's over, it's over!" Bad news came one after another. Nian Botao was already a little numb. After sitting in the office for a few hours, he suddenly screamed loudly like crazy, and then threw his hands together. With a wave, all the objects on the desk fell to the ground.

  Hearing the sound of "ping ping pong pong", the secretary next door hurriedly opened the door and came in, but when she saw Nian Botao, who looked like a mad tiger, she was so timid that she was so scared that she didn't dare to come in at all.

   Just when she was in a dilemma, Du Kanghui walked over, glanced at the chaos in the office, and waved to her. The young female secretary left quickly as if she had been pardoned.

   "Niansheng, why are you so angry?" Du Kanghui walked in with a smile, pointed to the mess on the ground and said, "These are the company's assets, and they will be included in the balance sheet at that time."

Nian Botao, who was extremely emotional, glanced at Du Kanghui, sat down slumped, sighed, and said leisurely: "William, these are all my painstaking efforts, how can I say that they will be gone if they are gone! How can such a big company It may be said that it will go bankrupt if it goes bankrupt!"

"Could it be that these are all your hard work, and why not mine!" Du Kanghui smiled bitterly, and said bitterly, "Over the years, you have been in charge of the Chinese market, and I have been in charge of foreign markets, although my achievements are not as good as yours. It’s so impressive, but it also expands Peregrine’s influence on a global scale. You are so distressed, why am I not the same? Moreover, this time I may face much more serious consequences than you!”

"What?" Nian Botao was taken aback, and quickly asked, "The liquidation is inevitable now, why do you still say such things? Do you have other debts that I don't know about?" changed.

Seeing his gloomy face, Du Kanghui quickly denied: "How can I have debts other than accounting statements? This is going to jail." Seeing that Nian Botao's face eased a lot, he continued: "This It was mainly due to a mistake in the Indonesian market that dragged down the business of the entire group. I really cannot shirk the blame. Someone has already disclosed to me in private that the Hong Kong government is very likely to set up an independent investigation committee this time to thoroughly investigate The reason for Fortune’s debt.”

"According to the law, my team and I have unshirkable responsibilities, so it is very likely that we will be punished in the end. But I don't care. After the liquidation is over, I will return to my hometown in Scotland to retire. At least this life has been good, I don't have any regrets." At the end, Du Kanghui had a dejected look on his face, and there were faint tears in his eyes.

  Nian Bo Tao was also speechless for a while, and could only follow in silence.

"You are different, Niansheng." After a long time, Du Kanghui was freed from this sad mood, shook his head slowly, and continued, "I am already an old man, the money I have earned in the past few years It's enough for me to retire. And you are young and vigorous, there are no major problems in the business under your jurisdiction, and your network is still there, so you can make a comeback."

Now that the matter has come to this point, Nian Botao will naturally not hide it, "I had this plan originally, but it depends on the liquidation price. To be honest, I have always been willing to cooperate with Chinese-funded enterprises, borrowing their connections and my The network will definitely expand the investment banking business. However, everything is still unknown, that is, who will take over when it is liquidated. It would be great if we could liquidate ourselves.”

"Don't even think about it!" Du Kanghui glanced at Nian Botao and said helplessly, "In order to protect the interests of investors, the Hong Kong government and the stock exchange will never let us liquidate ourselves, they will definitely appoint a lawyer Firm, help us to liquidate."

  The so-called liquidation is essentially bankruptcy. After all the company's business is stopped, all assets are sold in a short period of time, turned into cash, and repaid to investors in the order stipulated by law.

  Although Peregrine has an annual turnover of about 20 billion US dollars, its own fixed asset value is only more than 3 billion US dollars. But after excluding debt, these assets are enough to pay off a series of investors, including shareholders, and some projects can be sold for a lot of money even if the time is tight.

  For example, Nian Botao mainly controls the investment banking department, which is the core business of Peregrine. This department was bound to be looted during the liquidation process. They had reaped a lot in the red-chip stock market this year. In 1997 alone, they raised 15 billion Hong Kong dollars for the red-chip H-shares. One piece, they accounted for at least 1 billion Hong Kong dollars in revenue.

   Such a department that lays golden eggs, naturally all the consortiums that want to get involved in the IPO will be jealous, and Nian Botao, the core figure of this team, is even more popular.

It's just that Nian Botao felt uncomfortable when he thought of working for others from now on, but he no longer had the capital to compete with others, so he could only sigh and say, "From working for others to being your own boss, who will you be?" Thinking of continuing to work for others in the end, this is the first time I have encountered such a situation!"

"This is also my first time facing liquidation!" Du Kanghui stood up, patted Nian Botao on the shoulder, and made a rare and humorous joke, "Old man, enjoy your first time, you will never forget it Yes, it's the same as your other first time." After speaking, he laughed and left.

Nian Botao shook his head with a wry smile behind his back, and soon his expression became condensed again. He didn't know whether he was worried that Peregrine would not be able to sell at a high price or that the new owner would interfere with his business. In short, his expression became more and more serious. more gloomy.

  …

  Although liquidation is inevitable, there is still a lot of work to be done. Under the supervision of the Hong Kong Monetary Authority and the Hong Kong government, Peregrine quickly prepared a liquidation team to be responsible for this aspect. Next, they have to find a suitable law firm in Hong Kong to be their liquidator. At the same time, it also began to let the major financial institutions know that Peregrine will be liquidated, so that they can have time to prepare funds to acquire their favorite departments and businesses.

The reason why all of them were notified is to prevent someone from lowering the price during the bidding process. You must know that some assets of Peregrine are still of high quality. If they can buy them at a lower price, these people will naturally not raise their prices. Fool. Therefore, Peregrine even informed Tianyu Fund.

   "Zhong Sheng, do we need to make a move?" Looking at the long list of assets on hand, Ma Jiarui looked and looked complicatedly, and finally asked Zhong Shi uncertainly.

   "Forget about the business department, but there are quite a few good things in the direct investment." Zhong Shi turned over and smacked his lips, "Hey, this project is good. No, it's not good, but very good. I want it!"

"What project?" Ma Jiarui rushed over his head, and after careful study, he curled his lips and said disdainfully, "What kind of project is this? It fell below the 10,000 mark in two days, I think it’s better to forget it! The exchange rate risk alone is definitely enough for us to drink a pot!"

   "No!" Zhong Shi's face suddenly became serious, and his tone was a little harsh, "I must win this project!"

   Thank you Fish who miss you, God Kalm, Jiangnan Liu Feiyan, Honglong... and many other book friends who voted monthly! Thanks to the book friends for their generous rewards! I hope that more book friends will continue to support this book, thank you~!

  (end of this chapter)