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On July 2, 1997, the financial crisis broke out in Thailand.
The Thai government announced that it would abandon the fixed exchange rate system and implement a floating exchange rate system, which triggered a financial crisis throughout Southeast Asia.
On that day, the exchange rate of the Thai baht against the US dollar fell by 17%, and the foreign exchange and other financial markets were in chaos.
?Under the influence of huge fluctuations in the Thai baht, the Philippine peso, Indonesian rupiah, and Malaysian ringgit have successively become the targets of international speculators.
The target of the attack, when the confidence of market participants fell, a series of tragic collapses occurred.
In August 1997, Malaysia abandoned efforts to defend the ringgit. The normally strong Singapore dollar also took a hit. Although Indonesia is subject to the "traditional
The last country to be "infected", but the hardest hit.
?In late October, international speculators moved to Hong Kong, the international financial center, and pointed their finger at Hong Kong's linked exchange rate system. The authorities of Baodao suddenly abandoned Xintai
The currency exchange rate depreciated by 3.46% in one day, increasing the pressure on the Hong Kong dollar and the Hong Kong stock market.
? On October 23, the Hong Kong Hang Seng Index fell 1211.47 points; on the 28th, it fell 1621.80 points, falling below the 9000-point mark
?The Hong Kong SAR government reiterated that it will not change the current exchange rate system due to the fierce attack of international financial speculators. The Hang Seng Index rose and reached the 10,000-point mark.
Hongkong
? Victoria Peak Mansion The Peak Tower
The office area of ??thousands of square meters on the second and third floors here is now the financial crisis countermeasure headquarters of the Royal Family Fund, with more than 700 business elites working here day and night.
? Third Floor, Chairman's Office
Wang Yaocheng walked in briskly from the outside, with an invisible majesty on his amiable face. Du Bo and Deputy Director Wilkinson, who had been waiting here for a long time, stood up quickly.
"Chairman, good afternoon."
"sit down!"
Wang Yaocheng sat down on the sofa at the top, and the female secretary brought a fresh fruit plate, refreshments, and a pile of sorted materials. Wang Yaocheng put it beside him without looking through it.
"Tell me, where is the progress now?"
Dubo glanced at his deputy, Wilkinson, and reported without hesitation;
"Chairman, in accordance with your instructions, we have been keeping a close eye on the stock of HSBC Bank and have done a lot of work in the past three years.
In January 1997, after the fund's strategic withdrawal, we still held 10.45% of HSBC's equity, scattered in 11 institutional accounts.
In March, the Crown family acquired 4.5% of the shares through an off-market transaction at a transaction price of 627 million US dollars.
? In addition, in London and Hong Kong, through more than seven months of on-market low buying, they have successively controlled 7.12% of the shares, adding up to a total of 22.07% of the equity.
Since the outbreak of the Asian financial crisis on July 2;
International financial speculators moved to Hong Kong in mid-October, focusing on the Hang Seng Index, the fixed exchange rate system and the bond market. Stocks on the Stock Exchange plummeted under heavy short selling, and HSBC, the market leader, could not escape This is difficult.
As of today;
The stock price has fallen from the peak of 38.2 billion pounds at the beginning of 1997 to 14.2 billion pounds before the Southeast Asian financial crisis, and now it has plummeted to 9.77 billion pounds (119.7 billion Hong Kong dollars).
The huge psychological deterrence brought by the financial tsunami caused a large number of hard chips to loosen and flee, and the stock of HSBC, the leader of blue chips, collapsed.
Taking advantage of this opportunity, we entered the market and acquired a large number of HSBC shares, costing HK$18.2 billion to acquire 14.13% of the shares, and controlling a total of 36.2% of the shares of HSBC.
? It is precisely because of our strong support for HSBC, the leading blue-chip stock, that the Hang Seng Index was able to recover over 10,000 points, and was highly commended by the Hong Kong government, and praised as the pinnacle of the Hong Kong Island financial industry.
Therefore, the Royal Family Fund hopes to make persistent efforts and decisively seize the ultimate controlling stake in HSBC, and asks the chairman for approval. "
Wang Yaocheng unhurriedly took out a cigar, cut off the cap, and said with a thoughtful look; "You guys also have one, this Cuban handmade cigar tastes pretty good, so don't rush to make a decision."
"Thank you, Chairman."
Du Bo and Wilkinson each took one respectfully, first ordered it for the chairman, and then enjoyed it by themselves.
a moment
The room is filled with the pure aroma of cigars, as if shrouded in light smoke.
It is the end of October, and Wang Yaocheng knows that the financial turmoil is far from over, and the year-long fierce competition has just begun. This is a hunting season.
? In Royal Fund's fight for HSBC controlGet rich rewards.
It is true that such a company has gone astray when it intervenes in the battle for controlling rights.
Tapping the sofa with his slender fingers, Wang Yaocheng grinned, revealing his snow-white teeth, as sharp as a blade;
"Since they settled in Hong Kong Island, these landlords have given us a lot of control, and this kindness cannot but be reciprocated.
Just taking advantage of the financial turmoil, Royal Family Fund can target the following companies.
? Miramar Hotel, Cheung Kong, Wheelock and Wharf.
Among them, the Miramar Hotel must be in your hands, and Wheelock Properties must spit out the Harbor City project and the Ocean Terminal project. You should arrange the specific operations yourself. I will see the harvest in half a year. "
"Yes, chairman, we will arrange a special trading team to follow up, please rest assured."
Du Bo was full of confidence in this, and the counterattack finally began.
It is not a big problem to win the Miramar Hotel. The current value of this listed company does not exceed 10 billion Hong Kong dollars. The chairman of the company, Yang Bingzheng's family, holds very little equity, and more than 30% is in the hands of the Lee Shau-kee family.
In this financial crisis, the Lee Shau Kee family will inevitably reduce their holdings in branch companies in exchange for cash. This is an opportunity.
As for Wheelock Properties and Wharf, which are the core assets of the Ship King family, they are currently managed by Wu Guangzhen, while the Harbor City project and Ocean Terminal project are the jewels of Wheelock Properties, and it will take a lot of twists and turns to get them.
What the chairman did was to strike back severely at these Hong Kong landowners, taking advantage of the opportunity to enter the market, making them dumb and unable to speak out.
Of course, it is still necessary to disperse and absorb quietly now, if you don't move, it will hurt your muscles and bones at every turn.
Now under the shadow of the financial crisis, people are panicking, like a frightened bird, and the difficulty of collecting chips is much lower. (Remember the site URL: www.hlnovel.com - Didn't finish reading? Add this book to your favoritesI'm a member and bookmarked this chapterCopy the address of this book and recommend it to your friends for pointsChapter error? Click here to report
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