Chapter 142 [Taking over Kanghe Building]

Starlight Real Estate Office

Li Wendi was holding a thin document in his hand, browsing through it carefully. His hairy eyebrows trembled slightly, and his mood fluctuated.

Zhang Wentao, who was sitting opposite, was waiting for his boss's reply. In fact, he already knew the contents of the document by heart, but the boss rejected his explanation and chose to read the report directly.

Li Wendi finally put down the documents and smiled at Zhang Wentao, "Wanhui Company has a total of 2500 million shares, 60% of which are publicly offered. Wei Zuhui holds 40%. We have already won 700 million shares, accounting for 28%, a difference of 12%. The result is not bad."

"Thank you for the compliment, boss!" Zhang Wentao said modestly, "Wanhui Company is preparing to be listed on the Kowloon Stock Exchange at the end of the month. If we hadn't purchased nearly half of the subscribed shares, Wanhui Company might not be able to sell all the shares within the scheduled period."

Zhang Wentao's words implied that it was not worth acquiring Wanhui Company. He was trying to dissuade Li Wendi in a tactful way. After all, stocks that were not recognized by shareholders would hardly achieve a listing increase, and would also affect the company's future development.

Li Wendi smiled and said, "There are too many companies going public in the second half of the year, and the stock subscription situation is becoming less and less friendly to small companies. But that's what most people think. What I am best at is investment and speculation. As long as I take over Wanhui Company, it won't be difficult for the stock price to rise."

"Boss, are you planning to transfer the property and land of Xingguang Real Estate to Wanhui Company, and use the power of the newspaper to hype Wanhui Company?" Zhang Wentao asked with his eyes slightly wide open. This is the safest way. The left hand gives to the right hand, and takes the opportunity to increase the market value.

This is a lucrative business and of course it needs to be successful.

"The impact on the stock price will be very limited if you just increase the asset value. What you said is just my first step." Li Wendi was reluctant to reveal too much. "Well, we haven't acquired Wanhui Company yet. It's too early to say these things."

"We still need to continue to acquire shares of Wanhui Company and try to reach 40% before the listing, which means acquiring 300 million shares."

"Yes!" Zhang Wentao thought about it and said, "If we are discovered, should we immediately initiate a takeover?"

Li Wendi smiled faintly and said, "Of course, at that time, we can directly raise the stock price to acquire it. Spending a little more money can save us the effort in the future."

"I know what to do." Zhang Wentao knew his boss well and knew that he would agree. He was just asking out of routine.

A ward at Wan Chai Hong Kong Sanatorium and Hospital

This is the VIP room of He Zefeng, a famous Hong Kong figure. It is equipped with all necessary medical equipments. The room is not small and can accommodate 6 relatives, but the space does not seem cramped.

He Qijun was peeling an apple obediently, but she was standing instead of sitting.

"I heard that Yuanhe Newspaper's partner Li Wendi wants to tear up the previous contract and withdraw from the magazine "Handsome" to work on his own. Qijun, aren't you very familiar with Li Wendi? Why don't you go and persuade him? Without this magazine, Yuanhe Newspaper will have a hard time." Uncle He Zhongmou, who has a square head and a black mole on his left cheek, asked with a faint smile, but the hidden meaning in his words was very weighty.

Everyone in the room looked at He Qijun, seemingly very interested in this topic.

He Qijun paused while peeling the apple, then continued peeling it as if nothing had happened, smiling slightly, "Third Uncle, you don't know, I've already persuaded Li Wendi, but he still insists on taking the magazine back. The 100 million yuan in liquidated damages has been paid, and I really can't turn the tide. Third Uncle is more capable than me, why don't you go out and subdue Li Wendi yourself?"

He Zhongmou certainly suspected that there was something fishy going on and would not fall into the trap easily. "You have always been in charge of the affairs of Yuanhe Newspaper. As an elder, I should give you a chance to exercise yourself."

"Dad, what do you think?" He Zhongmou turned his head and looked at He Zefeng lying on the hospital bed, with a flattering smile on his face.

"Withdraw it if you want. Our He family won't go bankrupt if we lose a magazine." He Zefeng looked a little pale and coughed a few times while speaking. "But your uncle is right. This is a good opportunity to exercise. I have heard a lot of news in the market. This Li Wendi is considered to be the best of the new rising generation in Hong Kong. He has defeated the Chen Fenben family and the Liu Xiangtian family. His strength and ability should not be underestimated. Even if we can't make friends with him, we should not offend him."

"Yes, Dad (Grandpa)!" Everyone agreed. Most of the He family's things were in He Zefeng's hands, and the younger generation could not afford to disobey him.

In a flash, He Zefeng's face turned stern again, and he said in a deep voice, "I know what you are thinking. That's the sentence 'Do your own thing well, and I will treat each of you fairly.'"

"You all know the meaning of family since childhood. A fist needs fingers gathered together to have power when it strikes out. You must unite. Dispersing your strength will only make the He family a second-rate family, and your position today will no longer exist."

He Zefeng's words of admonition made the faces of the people present different, but they did not dare to refute, because if they did so, they would lose He Zefeng's attention and have nothing to do with the family business. Small conference room on the 8th floor of Kanghe Building

"Mr. Li, I've heard of your great name for a long time!" A middle-aged man with a bald head, wearing a white shirt and a suit jacket, stared straight at Li Wendi with a smile on his face, looking amiable, but there was not much warmth in his eyes.

Li Wendi was already used to this kind of business greetings, and laughed as usual, "Mr. Wang is a 'famous' person who owns a building like Cornwall in Central. I am just a small figure."

"Mr. Li, you are too modest." Wang Jianji, the owner of Kanghe Building, gestured to Li Wendi to sit down, "Let's sit down and talk."

"Mr. Wang, let's get straight to the point." Li Wendi straightened his face, "You asked for 1100 million yuan for Kanghe Building. Considering the market competition, I am willing to increase the price by 50 yuan. How do you think?"

"To be honest with you, Mr. Li, a buyer has already offered 1150 million. If you want it, we can only raise the price a bit." Wang Jianji said seriously.

Li Wendi pursed his lips and sighed, "Mr. Wang, it's true that I really want to buy the Cornwall Building, but there are many properties in Central, and the location of the Cornwall Building is not ideal. I'll add another 30, 1180 million, a good omen!"

"Mr. Li, I see that you really want to buy it. I'll give you a base price, 1300 million. How about that?" Wang Jianji pretended to be embarrassed.

"1300 million is too high. The Anqing Building next door is only 2100 million and it is 9 stories higher than the Kanghe Building. In comparison, I might as well bid for the Anqing Building." Li Wendi belittled the Kanghe Building from another angle.

In fact, the original asking price of Kanghe Building was already high, and now the price has been increased by more than 18%, which is naturally difficult to accept.

It is not surprising that someone offered HK$1150 million, but it seems not worth it to bid more than this price because according to the current market situation, it will take about half a year for the premium to recover. Moreover, there is a concern now: whether the construction of a large number of commercial buildings in Wan Chai will affect the prices of commercial buildings in remote locations in Central.

If prices do not continue to rise as expected, then buying Kanghe Building will be a losing deal.

Wang Jianji did not dare to say anything unpleasant in rebuttal, because buying buildings with loans had become the mainstream of the market, and the future rent of commercial buildings would be used to repay the interest. Anqing Building was nearly twice as expensive as Kanghe Building, but the rent was also slightly higher than Kanghe Building, and the rent could repay the interest with about the same amount. Of course, banks were also willing to lend money for high-quality buildings.

"Okay, since Mr. Li really wants it, I'll take a step back and offer 1280 million!" Wang Jianji said hesitantly.

"The final price is 1200 million." Li Wendi saw that Wang Jianji had wavered. "If it doesn't work out, Mr. Wang should consider other buyers. I will also look for other Central buildings."

Seeing that Li Wendi was so young, Wang Jianji subconsciously thought that Li Wendi was a rich second-generation. Unlike others, Wang Jianji did not intend to cheat Li Wendi. After all, he could only cheat a few hundred thousand at most, so it was better to build a good relationship with him.

So he pretended to feel pain and said, "It seems that Mr. Li really likes Kanghe Building. Then I will do him a favor. 1200 million is 1200 million."

"Okay, then thank you, Mr. Wang!" Li Wendi stood up and extended his hand towards Wang Jianji.

After the two men shook hands, Li Wendi struck while the iron was hot and said, "Then let's go to the law firm to sign the contract, so that Mr. Wang can get the money earlier."

"OK! That's exactly what I meant."

After signing the contract, Li Wendi and Zhang Wentao took a car back to Xingguang Real Estate Company.

Zhang Wentao asked, "We need to pay Wang Jianji a down payment of 500 million within a week. Should we take out a loan or a partial loan for the remaining amount?"

Li Wendi said, "The maximum mortgage loan of the bank is 7%, which we may not be able to get. Considering the issue of rent and interest repayment, a 5% loan is most appropriate."

"Understood! Then I will arrange to go to the bank to get a 5% loan right away."

"Yeah!" Li Wendi nodded.

(End of this chapter)