First of all, in the express delivery circle, no one talks about Ali’s exercise of rights and Shentong at all. STO Express is a professional manager model. The Chen family was not engaged in express delivery and did not know how to manage express delivery. Before Ali took over, they were basically eliminated. If the company had not been entrusted to Ali to operate, Shentong would have disappeared in this round of express delivery competition. It’s that simple for the Chen family to hand over the management rights to Ali. Let alone Ali still has equity, even if he doesn’t have a share, the Chen family has to let Ali manage it.
Secondly, not to mention equity transactions, even if ordinary people sell a house, it is still quiet, and the transaction price is known to both the buyer and the seller, and they will not publicize it everywhere. This is to announce to everyone two years in advance what price will be traded two years later. Is the person who announced it stupid or the person who listened to it stupid?
Third, what’s more, the so-called transaction price is agreed between two shareholders, and it is not an agreement with the listed company, let alone an agreement with the shareholders. What does it have to do with you?
Fourth, you might think it matters because a change in control triggers an offer. Okay, let’s assume that the controlling stake in Shentong will change, and what will happen to the stock price when Ali triggers the offer.
As long as Ali does not intend to terminate the listing status of Shentong, then Ali certainly does not want to acquire the equity in the hands of retail investors. And the invitation price is appropriately raised according to the market price. The invitation price does not have to be 20.8 yuan, my dear ones.
Assuming that Ali is going to trigger the invitation, then enough retail investors must be allowed to enter the market at this price, that is, the cost of most retail investors must be controlled to more than 11 yuan. Then the stock price fell to the line of 6 to 7 yuan, and the invitation was announced at this time, and the price was set at 7 to 8 yuan. Then the stock price returned to 8 yuan during the invitation period.
In this way, the cost of most retail investors is more than 11 yuan, and 8 yuan will not exercise the right. A small number of retail investors who buy bottoms at 6-7 yuan will not choose to exercise their options because the stock price is higher than the exercise price. Only in this way can Ali achieve control without acquiring the equity in the hands of retail investors.
Tell me, even if Ali wants to control Shentong, what is his logic for driving up the stock price?
By the way, in the competition of three links and one reach, Zhongtong’s dominance has been established, and Yuantong’s second child status cannot be shaken. Shentong is Ali’s tool man, and Yunda has completely fallen behind without any illusions. $Shentong Express(SZ002468)$ $Yunda Shares(SZ002120)$ $YTO Express(SH600233)$
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