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Chapter 194: Dual Shareholding Structure

The TOP SHOP flagship store in Taikoo Li is in full swing.

More than 100 girls, divided into more than a dozen teams, began to move boxes of clothes and various auxiliary materials from the warehouse according to the command of the two store managers, and began to do work.

Moreover, the team's captain's sleeves are hung with the team's mark.

"Huahua, you are responsible for recording and counting data. Others, come and order goods together." Xiaoyun is the captain, responsible for commanding the entire team.

Everyone started working in an orderly manner according to her arrangement.

Li Qinghuan was holding a notebook and a pen in his hand, standing on the high ground on the second floor, looking down at the first floor, and writing a few words on the notebook from time to time.

This kind of teamwork can easily distinguish between the top and bottom.

Everyone in Xiaoyun's team is very diligent and willing to obey Xiaoyun's command, so they do their work quickly and well.

Some teams are in a mess. The captain is not clear about commanding, and the team members do not follow the captain's arrangements. Everyone does their own work, which will result in a lot of repetitive work and naturally the efficiency will not be high.

"Hey~ I just ordered those, why did you order them again?"

"Ah~! How did I know you ordered it, and I didn't say a word."

How could such a team have any efficiency?

In fact, it doesn’t take you all to finish it. Li Qinghuan will have a clear idea in her mind. What can be retained and what is not suitable for THE  TOP   SHOP, have been written in the notebook.

It has to be mentioned that these shopping guides who were eliminated by Li Qinghuan are not necessarily people with poor abilities.

Maybe, people who are not performing well now are still gold medal shopping guides in their original store.

It’s just because big stores like THE  TOP  SHOP and small stores like Huashang International with a 100-square-meter square meter, the requirements for shopping guides are different.

In Huashang Store, shopping guides need to have strong combat capabilities in individual soldiers and often complete the series of jobs of entertaining customers, recommending products, and finding goods in the warehouse alone. Moreover, they attach great importance to sales ability.

But in THE  TOP  SHOP store, it’s completely different.

This kind of large store with one or two thousand square meters has more than a dozen shopping guides, and the customers they need to receive every day may be thousands of customers. Moreover, THE  TOP  SHOP's sales model does not require shopping guides to actively promote them.

Therefore, the collaborative combat capability of shopping guides is more important.

Flexible hands and eyes, diligence, obey orders, and willing to cooperate. These characteristics are what THE  TOP   SHOP values ​​when selecting shopping guides.

Finally, Li Qinghuan selected several teams of people he liked on the spot, and the others could only say sorry.

Xiaoyun's team was of course successfully selected.

...

This scene is being staged in major cities across the country, and there are 20 stores that opened before the New Year.

Of course, Wang Ye doesn't have to worry about these trivial matters, but this year he can't go back for more than ten days like last year.

He had called his family and told him that he would probably not be able to get home until around 29 or 30 this year, and then he would come back after the first day of the Lunar New Year.

In other words, I can only stay at home for two days.

This is also a matter of no way. The greater the ability, the greater the responsibility.

Now the companies he controls are in a lot of things. Although all senior executives are responsible for it, the real major matters still require him, the boss, to approve them.

Meigou.com has now entered the preparation stage for its official listing. Xu Jing, Li Xin, Li Youlun and others are already busy.

They, let alone the Chinese New Year, even sleeping during this period feels like a waste of time.

Although the conditions for listing on Nasdaq are much simpler than in China, the entire process is also an unusually troublesome.

This time, it is not as easy as Huashang International's listing. It is protected by someone, and of course it is successfully launched without any danger.

However, when going to Nasdaq, you can only follow the rules and no errors can occur in every process.

Regardless of any domestic and foreign company, if you want to list on Nasdaq, the process of underwriting securities companies is similar. During this period, there are about five relevant parties, namely the company to be listed, the financial advisory company, the Securities and Exchange Commission's registered accountant, the Securities and Exchange Commission's lawyer, the Nasdaq underwriting securities companies, etc.

Among them, the most important one is of course the IPO underwriters, and the underwriters who assume the responsibility of listed companies can also bring huge profits.

Citibank, a loyal partner of Wang Ye, certainly took the lead and occupied the quota of an IPO underwriter.

However, Citibank is obviously not enough, because Nasdaq is listed, facing global investors, while Meigou.com is not small in size. If there is only one underwriter, it is not enough to support the stock price.

Sequoia Capital and IDG, of course, also have their own recommendations.

Sequoia Capital recommended Morgan Stanley, while IDG recommended Credit Suisse.

These three companies formed the underwriter team of Meigou.com and began to intervene in the listing process.

Meigou.com has a total share capital of 850 million and plans to list and issue 350 million new shares, so that the total share capital will reach 1.2 billion.

Wang Ye still holds 300 million shares, which will account for 25% after listing, which is a relatively appropriate proportion.

Of course, in order not to lose control rights, Wang Ye designed a double-layer equity structure voting rights agent.

That is, the shares of Meigou.com are divided into two categories AB, and Wang Ye’s own 300 million shares are divided into Class B. The shares in the hands of others, including the new shares issued after listing, are all Class A shares.

The A-grade and B-grade stocks are completely consistent in terms of dividends and cash sales. The only difference is that the voting rights of B-grade stocks are 10 times that of A-grade stocks.

In addition, in order to ensure absolute control of Wangye, Meigou.com has also added a "voting rights agency agreement" in addition to the design of the two-layer equity structure.

All institutions and individual investors who have invested in Meigou.com before needing to sign this agreement with Meigou.com and agree to authorize Wang Ye to vote on behalf of the shares held by shareholders in certain specific occasions where shareholders need to vote. This agreement remains valid after the IPO is completed.

After this division, Meigou.com will have a total share capital of 1.2 billion after listing. Wangye’s Class B shares will have 3 billion voting rights, while the remaining 900 million shares will have only 900 million voting rights.

What's more, the stocks and voting rights in the hands of Temasek, Sequoia Capital, IDG, Li Youlun, Nie Dingwen, Fang Haohua and others must also be authorized to Wang Ye.

After calculation, Wang Ye will hold more than 80% of the voting rights, which also means that even though his shares account for only 25%, his voice in the board of directors has not decreased at all.

It's still a word!

When discussing this equity structure, Zhou Da of Sequoia Capital said with a wry smile.

"Mr. Wang, is it necessary? You already have a lot of shares. It's a bit over the 10-to-1 voting rights of AB shares."

Wang Ye smiled and said nothing, but Li Guanghua from Temasek had different opinions.

"Mr. Zhou, you read it wrong. Instead, I think that this equity structure is easier to increase investors' confidence! Meigou.com is firmly controlled by talented entrepreneurs like Mr. Wang, and is not disturbed by our capital, and is easier to develop better. Such companies will be more favored by ordinary investors."

Li Youlun clapped his hands and agreed: "I think so too! To be honest, except for Mr. Wang, I am not at ease when others come to steer Meigou.com!"

Everyone else nodded in agreement.

Zhou Da was not trying to object, but when he saw that everyone agreed, he expressed no objection.

In this way, Meigou.com determined the two-layer equity structure of AB shares. This equity structure also determined Wang Ye's position in Meigou.com. Even if his shares are sold in the future, it will not affect his voice.

That is, Wang Ye’s outstanding performance has always been, and the representatives of other shareholders happily agreed with this double-layer equity design.

This is the benefit of going to the Nasdaq listing. If it is in the mainland, it is simply impossible to achieve.

Same shares and equal rights are the rules of the mainland securities trading market, and it is impossible for a change for the US Shopping Network.

After finishing this matter, it is already February 22nd, and the Chinese New Year will be held in two days.

Only then did Wang Ye have time to pay attention to the opening of THE  TOP   SHOP.

Two days ago, on February 20, THE  TOP   20 stores had already opened.

...

"Hurry up, the store opens today. We have to go over and prepare early!" Xiaoyun shouted to Huahua.

"Oh, the door will be opened at 10 o'clock, and the store manager asked us to arrive at 9 o'clock. Look at the time, it's only 8 o'clock now, we will arrive in twenty minutes. As for going out so early?" Huahua muttered reluctantly.

Both of their families are in the downtown area, and this time they were selected to work in THE  TOP  SHOP Taikoo Li’s flagship store.

As soon as the two girls planned to rent a house together, it would be much more convenient.

Taikoo Li is located in the city center, and the nearby houses are not cheap, but Xiaoyun won the joint suit at the annual meeting and transferred it to Mr. Wu, and the money he got was 600,000 yuan. Therefore, he is much more generous now.

Even though he mumbled, Huahua also understood that the store opened today, which was a big deal, so it would be better to go early.

The two of them washed and dressed up, and hurried out.

When I arrived at the Taikoo Li store, the manager and other shopping guides were almost there. Today, the first day of business was open, and there was no time to do anything, everyone was coming!

Including two store managers, there were 32 people.

Everyone started to organize the shops and prepare for opening. When it was past nine o'clock, the managers of Taikoo Li also came to help.

After walking around the store, the operation manager asked the store manager in surprise: "Where is the leader of your headquarters? You are about to open business, why haven't you arrived yet?"

He thought that the leader of THE  THOP   The leader of the SHOP headquarters had not arrived at the store yet and was still in the hotel.

The store manager smiled and said, "There is no leader from the headquarters. In the past few days, our company has 20 stores to open. The leaders rushed to other cities to prepare. Our store has already done all the preparations, and it is time to open the door and open now."

The operation manager of Taikoo Li felt that he couldn't understand. With such a large flagship store, the headquarters didn't even send someone. He was so heartless.
Chapter completed!
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