Li Ka-shing to enter the field of electric vehicles and lithium batteries
So far from the end of 2009, GAIN Capital Holdings myth continues. Yesterday the company announced a total consideration of 2.75 billion Hong Kong dollars, the acquisition target company Union Grace Holdings Limited shares. In addition, GAIN Capital Holdings Chairman Li Ka-shing will be long and the Department of discount of 18.9% placing 400 million shares of stock. At this point, GAIN holding the Union Grace Holdings Limited and its subsidiaries in the Poly Lei days (Hong Kong) into the bag, entered the field of electric vehicles and lithium laptop battery .
laptop battery News triggered a stock price rose, Jan. 26 rose 62.22% GAIN Capital Holdings closed, it is touched an intraday high of 1.57 Hong Kong dollars. In fact, the myth of GAIN Capital Holdings stock price Hurricane been staged. End of last year the company announced the acquisition of the Poly Lei days into hot new energy business, the stock price will climb, from December 1, 2009 of 0.130 along the way the Hong Kong dollar rose to January 26, 2010 of 1.460 Hong Kong dollars, less than in February will increase 10 times between harvest.
Qiao Shi capital operation
It is worthy to in the acquisition of skills embodied in capital operation, the company did not pay a cash, but never Li Ka-shing’s placement of shares in the harvest nearly 2 billion in cash.
The company’s total cost of the acquisition was 27.5 million. Where 1 billion in cash; 156 700 000 0.2 yuan per share, issued by the Hong Kong dollar at about 783.5 million consideration shares to pay; 2.493 billion Hong Kong dollars to release 8-year zero-coupon convertible bonds pay the exercise price of convertible bonds with 0.2 HK can be fully converted to 12.466 billion shares. Price of shares and convertible bonds issue price than the exercise price before the suspension closing price discount of approximately 77.78%; if the buyer the full exercise of convertible bonds, shares will increase to 83.6%. Finished, one day the boss of Poly Lei Zhong Xin Jia and Awkward to be appointed as the GAIN holding the post of Executive Directors.
GAIN Capital Holdings to look at Li Ka-shing’s allotment program. With a share price of 0.73 Hong Kong dollars, representing a discount of 18.9% before the suspension. 292 million dollar financing, net 290 500 000 Hong Kong dollars. Said, of which 1 billion acquisition of the battery products business to pay for part of the consideration, the balance will be used to pay for the construction of Poly Lei Tianxing battery production facilities, construction costs and additional corporate liquidity.
Thus, consideration of GAIN Capital Holdings acquired the cash portion of the basic pay by the Li Ka-shing, the company shares and convertible bonds as the price, and the placement of shares from the Li Ka-shing was 190.5 million Hong Kong dollars in cash.
Market participants said that as the purchase consideration will be company shares, convertible bonds, such a combination of cash payments, will not cause changes in a controlling stake in the company. This would mean in the White Poly Lei days did not backdoor, the existence of convertible bonds, but also for future mine-day listing polyethylene foreshadowed. Coupled with the star effect of Li Ka-shing, will naturally lead to strong buying interest.
Optimistic about market prospects
GAIN Capital Holdings Li Ka-shing shares move into the electric car market, not help people with Buffett’s hidden story of lithium. Of course, a large investment in this area, not just the two capital Gangster. Zhong Jia Xin’s Thunder Sky’s the second half of last year spent 30 billion yuan investment in electric car project, the highest domestic investment in this area the most.
Xiangcai Securities researcher Shun Feng told reporters, electric cars and lithium battery market, the future of a great imagination, this is big brothers have raised capital, the main reason for participating. Currently, a Li-ion battery electric vehicles required amount equivalent to 1 million times a cell phone. If the electric vehicle to promote, will release a lot of market demand. Feng Shun cited the following example: “With our auto sales to 10 million a year to calculate, if one of the one-thousandth of the electric vehicle, there are 10,000 a year, on the demand for lithium batteries is equivalent to 100 million units the amount of mobile phones. ”
Once the recent market rumors, in February this year, the state will put the private purchase of electric vehicles in the subsidy program. With the current National Grid and Southern Power Distribution Electric Vehicle Charging Station active market is not difficult to depict the beauty of electric vehicle industry blueprint. Feng Shun said: “Prior to five years, lithium battery business, about 25% compound growth rate, mainly due to mobile phone and notebook computer market driven. Thereafter, if the electric car market with a breakthrough, it is not difficult to maintain this growth rate . “