The conference room became noisy again, but, unlike before, Feng Yiping was one side this time, and the other side was the other side.

Page and the others didn't understand, "Feng, that shouldn't be the case,"

Feng Yiping thought that they must have understood the "I" in the sentence just now as "we".

Of course, this shouldn't be the case if you sell the stocks yourself and then buy them back.

The underwriters didn't believe it. David glanced at Andrew, who was stunned by the side, "Feng, you have to understand that this must be at least hundreds of millions of dollars,"

He said this with a conscience. This time he planned to raise 4 billion US dollars, which means that at least he still wanted to sell 80 to 90% of the shares.

"I understand, I fully understand that everyone may not have heard it clearly. I didn't subscribe to it myself," Feng Yiping explained. He didn't want Page and the others to think that they wanted to take the opportunity to compete for control of Google.

If you don’t subscribe, what does this package mean?

"Everyone may know that in addition to the United States, I also hired nearly 30,000 employees. How to improve their enthusiasm for work has always been a headache for me," he said.

David and the others couldn't help but go to see Page and Brin. Where did they go?

"So I have been thinking about how to give benefits to my employees so as to increase their enthusiasm. Just now, the opportunity has come. It is definitely a good benefit to ask them to buy our Google stocks, haha," Feng Yiping said with a thrilling look.

Page and the others' faces cleared slightly, so that's what happened.

In order to make the company's IPO go smoothly, Feng actually fought so hard! - They still don't believe that Feng Yiping would really do what he said. He said so just to show that he is very confident in the performance of the stock after it goes public.

Michael Moretz and John Dull smiled and nodded to Feng Yiping. In any case, Feng Yiping said such words in front of so many people, which is always beneficial to the listing, that is, to them.

The underwriter became even more sensational!

Many people looked at Feng Yiping and felt very unbelievable.

They also keenly grasped the key point of what Feng Yiping said: he is very confident in Google's stock, otherwise he would not regard it as a benefit for his employees.

The problem is that he actually regards Google stocks not optimistic about the market as a benefit to employees, so where does he have such strong confidence?

Many people were staring at Feng Yiping intently. The excited and excited expression on his face was real!

If it is not true, then we can only say that Mr. Feng should go to Hollywood to develop rather than to Silicon Valley.

"Feng, I have to remind you one thing," Comrade David still wants to maintain a long-term friendly and cooperative relationship with Feng Yiping. "According to your company's requirements, within 15 days after the successful listing, nearly 5 million shares can be sold; after 90 days, 38.5 million shares can be sold; after 6 months after the listing, another 170 million shares can be sold,"

Feng Yiping certainly knew what he said, which was a special request to meet the needs of the company's employees, management, and other shareholders.

"Even if Google's stock price continues to strengthen as you expect, under the influence of such a large number of selling orders, can the stock price still be very strong?"

Many people nodded.

This is one of the reasons why they are unwilling to underwrite.

Even if the stock price rises after listing, it will also be smashed by such a selling order. Perhaps, the stock price will be even lower than the issue price.

"Thank you for reminding David," Feng Yiping nodded to him, "but this is the result of my comprehensive consideration. I am still confident in the performance of our stocks in the future,"

By the way, if the rise has been good, how many people will be so eager to sell the stocks in their hands. Wouldn't it be more valuable?

"In order to dispel everyone's doubts, I want to tell me my specific arrangements," Feng Yiping stood up. "We plan to issue nearly 30 million shares this time. If you sell 90%, then there will be nearly 3 million shares left. I will say a few words to let each of my employees subscribe to an average of 10 shares. This is definitely not a problem. This is at least 300,000 shares."

"My management team in China, they have good incomes over the years. As long as I recommend, they subscribe to 2 million shares and will not have any problems. If possible, I will recommend them to sell the shares of two domestic companies listed on Nasdaq in order to raise funds."

Feng Yiping was completely unstoppable, "Because the stocks of my two companies reacted very well, but I think there is indeed a big gap compared to Google, which is about to go public,"

Page blushed with excitement again, what is a brother? This is a brother!

At critical moments, I will never hesitate to use my own son to support everyone's career.

"I think the remaining 700,000 shares may not be enough. I still meet some rich people from mainland China. They have always wanted me to take them to invest, but there was no chance before. Now, haha," Feng Yiping couldn't help laughing a few more times, "This is the best opportunity, ha, I believe that they will thank me for this investment in the future,"

He danced and walked around the conference room a lot, and finally stood behind Page and Brin, asking David and Andrew opposite him, "I'm fine with this arrangement!"

Page also stood up and stood side by side with Feng Yiping. With a partner like Feng Yiping, he was proud!

Bullin also stood up and patted Feng Yiping on the shoulder, everything was silent.

He and Page are now rich people on paper. Their value of Google shares was valued at more than 1 billion last year. Optimists also believe that their assets will exceed at least Donald Trump, who is claimed to be worth 2.5 billion US dollars.

However, valuation is valuation, cash is cash, and they have no cash now!

They want to cash out part of the cash through this IPO, so they cannot easily book stocks that cannot be sold worth hundreds of millions of dollars like Feng Yiping.

The key point is that they are not as confident as Feng Yiping in Google's stocks.

Facing the condescending gazes of the three young men opposite, Andrew and David were a little embarrassed.

Andrew looked at the young Chinese man in the middle now, as if he saw the light shining on him, and he was afraid to look directly into Feng Yiping's eyes.

A transaction of hundreds of millions of dollars is really nothing to him, but in just a few minutes, he decided to make a deal of hundreds of millions of dollars and decided on tens of thousands of people. This is shocking. Those people must trust this person so much!

The key is that these hundreds of millions of dollars of transactions are currently viewed by most people, or from mainstream perspectives, the prospects are not very good, but he is so sure.

Even how to implement it is so clear, it is naturally not nonsense.

Reckless or bold enough to not care about the benefits of such a large transaction, that is also a very impressive thing, and it will also impress people's personal charm.

"As long as underwriting is not mandatory, I think we have no other requirements," he said to David.

David nodded and looked at Feng Yiping quickly. Feng Yiping now made him afraid to look directly, "Yes, we have no other requirements, we will do our best to do our sales work," he said.

Page snorted into the air, put his hand on Feng Yiping's shoulder, and prepared to go out with him to ask what happened. He really didn't want to waste time with these greedy and almost broken-out guys.

But Feng Yiping waved his hand, "Then, I have a problem,"

Feng Yiping said with a smile, nervous those underwriters who were still in great shock.

The huge confidence and resolute attitude that Feng Yiping just showed made them doubt. Is Google really that good?

But they really don't dare to be so sure.

As the saying goes, no matter how good the stock of a company is, no one can guarantee that it will continue to rise after it is listed and will not fall below the issue price.

But is it possible that Google's stock will really be the only one that this young Mr. Feng believes? So isn't it a big income to give up underwriting by yourself?

Very tangled!

This is exactly the charm of the stock market and the reason why Buffett is Buffett.

However, Feng Yiping's statement at least really added some confidence in Google's IPO, and no one was willing to give up this business. When he heard Feng Yiping's tone, he knew that his problem would definitely be unfavorable to his side, and his heart suddenly became raised.

"Since the underwriting clause is cancelled, the corresponding green shoe option should also be cancelled," said Feng Yiping.

Michael Moretz glanced at his old friend and opponent John Dull, and they all understood what each other meant, "Excellent!"

Feng Yiping's attack can be said to hit those guys seven inches.

"This is impossible," this time, Andrew and David, who had always taken the initiative, stood up.

The so-called green shoe option was named after the first use of this mechanism in the IPO of Boston Green Shoes in the United States in 1963. It is also called the over-allotment option. It has now become the practice of listing of American companies.

The specific operation is usually within 30 days after the stock issuance, and the lead underwriter can obtain options that purchase from the issuer at the issue price equivalent to 5% to 15% of the original issue quantity - generally the latter, that is, 15% of the stock.

This excess of 15% stock is generally the income obtained by the lead underwriter "borrowing shares" from the major shareholder.

This part of the stock will also be sold to investors during the issuance of the new stock, and the proceeds from the fundraising will be kept by the lead underwriter.

After the stock is listed, if the supply is less than demand and the stock price rises, the lead underwriter can exercise the green shoe option and purchase the over-issued 15% share of the shares from the issuer at the issue price, and return it to the major shareholder.

It is equivalent to buying sought-after stocks at the lower issue price even after they know that the stock price has risen. This is also a benefit for employees of the company where the lead underwriter is located.

On the contrary, if the stock price falls below the issue price, the lead underwriter can naturally choose not to exercise the right, and use the over-subscription part of the funds he has kept to purchase the stocks in the secondary market at a price currently lower than the issue price, and then return it to the major shareholder, which can also benefit from it.

In other words, the so-called green shoe option is a benefit for the lead underwriter to ensure profits from drought and flood. Feng Yiping is going to move now, so it is no wonder Andrew and David are not calm.

“Rights and obligations are equal, so, this is naturally what it should be,”

"This, this..." Andrew of Morgan Stanley had been unable to say what was going on. With so many people present, it was hard to say something that I only had the right and did not fulfill my obligations, so I could not make everyone laugh at me.

Feng Yiping smiled and said, "Our legal department will discuss the specific terms with you later. Everyone, I'm lost,"

He was sandwiched between Page and Brin, and walked out with his head held high. Schmidt looked at them three and Feng Yiping with a complicated expression.

What Feng Yiping said and did naturally helped Google solve the big problem, but why was it him who solved the problem?

The more dazzling Feng Yiping's performance, the less he feels he has.

"Schmidt," Feng Yiping whispered a few words to him as he passed by.

When the three of them walked out, Schmidt finally became the center of the conference room again. "Everyone, I will announce a decision on behalf of Google,"

Merrill Lynn's Myers felt something was wrong. After seeing Feng Yiping's actions just now, he decided to report it to the company. Even if he crossed the level and went to President O'Neal, it didn't matter. So he quickly raised his hand and signaled, "Schmidt,"

Schmidt didn't look at him at all, "Based on some conflicts of ideas, we decided to remove Merrill Lynch from our underwriter team,"

"Boom," his remark caused another commotion. Merrill Lynch, a strong investment bank, Google really doesn't give face at all!

It seems that there are some things that they really know how to do and dare to do.

This is also what Feng Yiping asked Schmidtka to announce it here. No matter how much he said, he would not do anything that would make people more impressive.
Chapter completed!