From the end of 2009 so far, the myth of GAIN Capital Holdings continues. Yesterday the Company announced that it had acquired the entire interest of Union Grace Holdings Limited, the Target Company, for a total consideration of HK $ 2.75 billion. In addition, Jiasheng Holdings will be long and Chairman Li Ka-shing 18.9% discount placement 400 million shares. At this point, GAIN Capital Holdings will Union Grace Holdings Limited and its subsidiaries in the mine-day (Hong Kong) into the bag, the formal entry into the field of electric vehicles and lithium batteries.
News triggered a stock price rose, Jan. 26 Jiasheng Holdings closed up 62.22 percent, the disk is touched 1.57 Hong Kong dollars high. In fact, Jiasheng holdings of the myth of hurricane has long been staged. In late last year, the company announced the acquisition of the mine-day into the hot new energy business, the stock will climb all the way from December 1, 2009 to HK $ 0.130 all the way up to January 26, 2010 1.460 Hong Kong dollars, less than February Between the harvest will be 10 times.
Clever capital operation
It is worth recalling the acquisition of the company embodied in the capital operation skills, the company did not pay a cash, but from the Li Ka-shing's rights issue nearly 200 million Hong Kong dollars in cash harvest.
The total consideration for the acquisition is HK $ 2.75 billion. HK $ 2,493 million was paid for the issuance of the 8-year zero coupon convertible bond with the exercise price of the convertible bond of HK $ 0.2 million, which was HK $ 100 million in cash; HK $ 156.7 million was paid at HK $ 0.2 per share for approximately 783.5 million shares of the Consideration Shares; , Can be fully converted to 12.466 billion shares. The issue price of the Consideration Shares and the exercise price of the Convertible Bonds are approximately 77.78% discount to the closing price before the suspension; if the Purchaser fully exercises the Conversion Shares, the Shareholding will increase to 83.6%. Upon completion, in which the owner of the mine-day Zhong Xin Jia Jia and Miao Zhenguo will be appointed Executive Directors of the post.
Look at the Jiacheng Holdings Li Ka-shing's rights issue plan. The Placing Price per Share is HK $ 0.73, representing a discount of 18.9% compared with the previous trading price. Raising 292 million Hong Kong dollars, net 2.905 billion Hong Kong dollars. The company said that HK $ 100 million was used to cover part of the consideration for the acquisition of the battery products business and the remaining balance would be used to finance the construction costs of the construction of the battery production facility and to supplement the Company's working capital.
Thus, the acquisition of cash in the cost of part of the acquisition of basic Jiasheng Li Ka-shing to pay the company to equity and convertible bonds as the price, and Li Ka-shing's rights issue received $ 190.5 million in cash.
Market participants said that as the acquisition price will be the company's shares, convertible bonds, cash this combination to pay, will not cause changes in the company's controlling interest. This means that in the poly mine days did not backdoor, and the existence of convertible bonds, but also for the future in the mine-day listing foreshadowed. Coupled with Li Ka-shing's star effect, will naturally lead to the market sought after.
Optimistic about market prospects
Li Ka-shing shares holdings into the electric car market, the move could not help but make people and Buffett latent lithium battery company story. Of course, big money in this area is not only the capital of these two guys. Zhong Xin Jia Lei days of energy in the second half of last year to spend 30 billion yuan investment in electric vehicle projects, a record of domestic investment in the field of the most.
Xiangcai Securities researcher Feng Shun told reporters that the electric car and lithium battery market in the future to imagine a huge space, which is caused by capitalists have to participate in one of the main reasons. At present, an electric vehicle needs lithium battery is equivalent to a mobile phone 1 million times. If the electric car to promote, will release a large number of market demand. Feng Shun made an analogy: "In our annual car sales of 10 million to calculate, if one thousandth of the electric car, a year there will be 10,000, the demand for lithium batteries will be equivalent to 100 million units The amount of mobile phone. "
The recent market rumors that in February this year, the state will introduce a private subsidy plan to buy pure electric vehicles. With the current national grid and China Southern Power Grid positive layout of the electric car charging station market, is not difficult to depict the electric car industry, a wonderful blueprint. Feng Shun said: "After 5 years, the lithium battery business compound growth rate of 25%, mainly due to the mobile phone and notebook computer market driven.Since then, if the electric car market can have a breakthrough, then keep this growth is not difficult . "