Three days later, Goldman Sachs' board of directors discussed and approved its investment in Pangu Computer Co., Ltd.

Paulson, who received the authorization, quickly signed an equity transfer agreement with Xinchuangye Electronics Group.

"Congratulations, Goldman Sachs, will share the growth dividends and future appreciation of the value of listed equity of our largest and most profitable subsidiary of our Xinxing Electronics Group!" Lin Qi smiled, "If Pangu Computer can be listed at a market value of US$200 billion, then Mr. Paulson, you will definitely be the next Goldman Sachs CEO!"

"Thank you! My colleagues and I will use our professional abilities and efforts to prove that this deal is a win-win situation!" Paulson, who was authorized, smiled on his face.

As one of the next candidates for CEO, Paulson does not doubt his abilities and resources. But Goldman Sachs does not lack top teams and executives as powerful as him, so it must achieve far superior to other executives, so that the performance they create is equivalent to the pillar of Goldman Sachs' profits, so that they can get it.

On Wall Street, being able to become a CEO for an investment bank like Goldman Sachs is undoubtedly the ultimate dream of many outstanding talents.

Of course, no one expected that Paulson not only realized his dream and became Goldman Sachs' CEO. After resigning as Goldman Sachs' CEO, his next job was even the US Treasury Secretary.

It is precisely because he knows Paulson's future development trajectory that Lin Qi feels that it is worth becoming friends with him.

Pangu Computer Co., Ltd. itself is not short of money. Before going public, it does not need to issue additional shares to raise funds. The reason why it introduces strategic investment is just for listing, and it does not attach much importance to financing.

Therefore, this time, Goldman Sachs was introduced to participate in the stake, which was the major shareholder, Xinchuangye Electronics Group, and directly transferred 2% of the equity to Goldman Sachs.

At present, Pangu Computer Co., Ltd.'s 76.5% equity is controlled by the major shareholder Xinchuangye Electronics Group. After transferring 2% of the equity to Goldman Sachs, the major shareholder still holds 74.5% of the equity, occupying an absolute dominant position.

The remaining equity is all held by the management team and employees of Pangu Computer Co., Ltd. of the entire company. Among the 26,000 employees, 13,000 are held. It can be said that Pangu Computer's equity incentive system is almost the same as the parent company's Xinxing Electronics Group. Basically, it is all about allowing employees to widely purchase and hold company equity. On the one hand, it is internal financing, and on the other hand, it is bundling interests, so that core employees can fully enjoy the returns brought by the continuous growth of equity value.

The dual attributes of shareholders and employees strengthen internal cohesion and execution. After all, everyone understands that the rewards of equity are based on the fact that the company does not support idle people and that everyone's time, energy and ability are fully exhausted.

After introducing Goldman Sachs, many employees complained that Goldman Sachs took a big advantage and the share price was too low. They did not feel proud because of Goldman Sachs' investment.

From these we can see that the employees and shareholders of Pangu Computer Co., Ltd. basically agree with the value of their company and are full of confidence in the company's future prospects.

"Goldman Sachs will really take advantage of $1 billion, take 2% of the equity!" Gao Tian said a little unhappy, "Buying a leading stock in a computer industry with a 3-fold price-to-earnings ratio will also make a loss for Goldman Sachs to ask for it!"

"If Goldman Sachs dares to ask for it, it will give it to you. As long as Goldman Sachs can make Pangu computers listed at a market value of more than US$200 billion, the price is still worth the effort!" Lin Qi said with a smile.

If you want investment banks to work hard, the most important thing is to tie up interests so that investment banks can make enough profits. The risks themselves are not very high. This will allow investment banks to invest more resources to operate after evaluating profits and risks.

Just like this transaction in Pangu Computer, Goldman Sachs operates, first of all, with a 2% venture capital. If the project is successful, Goldman Sachs will earn at least $3 billion in investment returns.

In addition, Goldman Sachs will introduce some customers' funds in the next few rounds of venture capital, and manage customers' funds. Conservative estimates will allow Goldman Sachs to make hundreds of millions of dollars in asset management profits every day in the future.

After listing, Goldman Sachs should be in line with other Wall Street giants to underwrite the issuance, with a $30 billion issue, giving 2.5% of the underwriting issuance fee totaling $750 million. Conservatively estimated that Goldman Sachs will make $300 million from it.

Throughout the whole process, Goldman Sachs has extremely low risks.

Because, even if Pangu Computer Co., Ltd. is not listed, it can make profits in the future to earn back the cost of Goldman Sachs investment, and sacrifice a little time to get it back. Moreover, Goldman Sachs can still transfer equity. Judging from the current valuation of US$50 billion, US$1 billion equity can be sold at a premium at any time.

After all, this price is not a normal price, but a discount to Goldman Sachs and a generous discount in exchange for Goldman Sachs' resources in the US capital market.

"To go public, you must take advantage of outsiders. What's more, after achieving the listing goal, Pangu Computer Co., Ltd. can expand its global brand reputation. A mysterious company whose asset size is unknown to the market cannot compare with the influence of a giant with a market value of US$200 billion. With a market value of US$200 billion, it is estimated that there will be a large number of research reports and a large number of financial media discussions around the world every day, and the exposure rate on the Internet will also increase greatly." Lin Qi smiled, "For top large companies, exposure rate is also an important resource. A large amount of attention and exposure is essentially a free publicity that costs money."

In addition, the more important thing about listing is to reward employees. In addition, it will increase the number of platforms and tools for capital operation by major shareholders.

In essence, the means of getting money from the capital market, the major shareholders of listed companies far exceed those of small and medium shareholders. Even if it is reasonable and legal, without manipulating stock prices and insider trading, the major shareholders can still gain a lot of benefits based on the market's known only.

For example, if the stock price in the bear market is sluggish, it is completely legal to increase holdings and repurchase equity.

In the bull market, stock prices are bubbled high, and major shareholders can completely reduce their holdings and sell them, or use equity pledges to exchange for loans, or issue additional stocks at high prices to increase the net assets of old shareholders per share.

Even more extreme, the major shareholders do not play with small and medium shareholders. When the stock price is extremely low and far below the net assets and fair value, the major shareholders can completely arbitrage by tendering for circulating shares, privatizing and delisting.

It is precisely because major shareholders actually have more profit-making methods than small and medium shareholders. Therefore, the capital market has formulated a series of means to restrict major shareholders to protect the interests of small and medium shareholders. However, no matter how many restrictions are, it cannot change that major shareholders can naturally make better use of the capital market to seek benefits than small shareholders.
Chapter completed!