Huang Weida's Fidelity Investment Company is the only agent of Zhang Guan's overseas investment, and it has also helped Zhang Guan make a lot of money over the years. Pen, fun, pavilion www. biquge。 info

At first, in 2004, Zhang Guan made his first pot of gold through Bocai, and then through Fidelity Investment, he bought shares of fruit companies, invested in the fledgling social media FB, and bought some real estate on Hong Kong Island. In the following years, almost all of the money earned by Zhang Guan, as long as it was foreign currency, was handed over to Fidelity Investment to take care of.

Zhang Guan went abroad to participate in the competition, the prize money must be paid in foreign currency, and some foreign business activities, the remuneration is also in foreign currency, and in recent years, Zhang Guan's investment in the F1 team, the 500 million US dollar gamble, the appearance fee and bonus of the boxing match, etc., are all hundreds of millions of dollars in income, compared with the previous millions of dollars in competition bonuses, can only be regarded as change.

Fidelity Investments has also become a first-class investment company on Hong Kong Island. However, Hong Kong Island is a world-class financial city after all, and the financial industry is extremely developed, and the tax revenue generated by the financial industry alone is as high as 50 billion Hong Kong dollars, such as investment companies, fund companies, and insurance companies are everywhere, so Fidelity Investment is not abrupt.

After years of cooperation, Zhang Guan has also accumulated more trust in Fidelity Investment, not to mention that Zhang Guan is also very satisfied with the return on investment of Fidelity Investment. Being able to make money is naturally the basis for cooperation between the two sides.

On weekdays, Fidelity Investments mostly sends monthly reports to Zhang Guan, and over the years, it has rarely been so anxious to find Zhang Guan.

So after Zhang Guan saw the text message, he called Huang Weida back without hesitation.

"Mr. Huang, I was on the plane just now, and I couldn't answer the phone, is there anything urgent over there?" Zhang Guan asked.

"It's a matter from the United States, and it's really urgent." Huang Weida continued: "Do you remember when we first met in 2004, you named FB to invest? I really admire your vision now, a software that was so unknown back then, and now it is the world's No. 1 social software. On Hong Kong Island, one out of every two people in China uses FB. ”

“FB？ Are you looking for me about FB? Zhang Guan recalled that it was April 2012, and FB should have entered the final sprint stage of the IPO, and then asked: "Is it related to FB's IPO?" ”

Huang Weida was a little surprised, he didn't expect that as soon as he mentioned FB, Zhang Guan would think that it was related to IPO.

"That's right. It's about IPOs. Huang Weida then introduced the IPO of FB.

Since 2004, after receiving Zhang Guan's investment, FB has developed rapidly, in 2005 it received a venture capital of 10 million US dollars, and in 2005 it received nearly 30 million US dollars of venture capital, and then FB opened registration to all people, it has expanded rapidly, and last year FB has more than 800 million active users in the world.

So on February 2 this year, FB officially submitted an application to the Securities and Exchange Commission for a public offering, that is, an IPO, planning to raise $5 billion. The IPO was also the largest IPO deal for a technology company in U.S. history at the time, with the market estimating that FB would be valued at $100 billion after the IPO.

The IPO process went smoothly, the market was generally optimistic about the prospects of FB, and Morgan Stanley acted as the lead underwriter of the FB listing transaction, in addition to that. Financial giants such as JPMorgan Chase, Goldman Sachs, and Bank of America Merrill Lynch will also be responsible for underwriting.

The time for FB to land on the NASDAQ was determined to be May 18, a little more than a month away from now, and it can be said that it is the most critical moment for the IPO, but at this time, the Securities and Exchange Commission found a problem, but Hong Kong Fidelity Investment, as the second largest shareholder of FB, is not a direct investor, but an entrusted investment.

Entrusted investment is a kind of financial trust business in which the client deposits funds in advance into a financial trust institution as an entrusted investment fund, entrusts the financial trust institution to invest in its designated association or investment unit, and manages and supervises the use of investment, the operation of the investment unit and profit dividends.

To put it bluntly, this is a specific trust business. Unlike ordinary investment companies, investors who entrust investment have formulated investment units. In other words, once FB completes its IPO, the second largest shareholder is not Fidelity Investment, but the client behind Fidelity Investment.

It is precisely because of this that it has caused unnecessary trouble.

The U.S. financial market does not exclude foreign investors, for example, in this FB IPO, Russia's DST investment company holds a certain amount of preferred shares, and today's IPO can allow them to get a tenfold rate of return; Another example is Li Chaoren on Hong Kong Island, who also owns 3% of the shares of FB Company, and he can also get rich returns after the IPO.

With Li Chaoren's precedent, it is said that Fidelity Investment, which is also on Hong Kong Island, should also be unimpeded, but the SEC is worried that the investor behind Fidelity Investment will have some official background in a big eastern country. So the SEC asked Fidelity Investments to disclose information about its principals, because they were worried that it was not a simple business activity, and they were worried that such a large American company, and it was also a social networking company, would eventually be controlled by another big country.

In fact, FB company implements a two-tier equity structure of class A and class B, and Zhang Guan has made concessions in this regard in order to invest in FB at that time, so the FB shares held by Fidelity Investment are all class B shares, and although the selling price and dividends are the same as those of class A shares, the voting rights of the board of directors are only one-tenth of that of class A shares. So the SEC's concerns were unnecessary, but for reasons of ideology or state-to-state competition, the SEC still made a request for Fidelity Investments to disclose the information about the client. Otherwise, they will call for the IPO.

As the largest technology company IPO in the history of the United States, if it is stopped, the impact will be great, and Huang Weida will not be in a hurry with a business valued at $100 billion.

In fact, the SEC has violated the rules of business by doing so. In the United States, there are many cases of entrusted investment, such as the Jews in the United States, who prefer to use entrusted investment. For historical reasons, after the Second World War, Jews were reluctant to openly divulge their wealth, so they would use entrusted investment to run their business empires.

For example, some old financial families in Europe, who have accumulated capital since the colonial era, say that they are rich and rival countries, that is to look down on them! They have a lot more money than a country, but have you ever seen their names on a Forbes wealth list or something? They are more of a principal, hiding behind the scenes, they can enter the same company through different investment companies, and it seems that different companies hold equity on the outside, but in fact there is only one person behind the scenes.

Therefore, this kind of entrusted investment situation, although there are certain drawbacks, is a tacit behavior, and the SEC requires Fidelity Investments to disclose the identity of the principal, which is really a bit against the rules.

Huang Weida definitely can't make up his mind about this kind of thing, so after Huang Weida received the request from the United States, he immediately found Zhang Guan and hoped that Zhang Guan would make a decision.

And Zhang Guan is also thinking about the pros and cons...... (To be continued.) )