Rebirth Of The Godly Prodigal

551-560

Chapter 551: Resource Chamber of Commerce Meeting (Part Twenty-two)
Translator: Atlas Studios Editor: Atlas Studios

All of the media in Heavenly State was reporting on this, and those shareholders who were most sensitive crazily started to sell their shares on Qian Family Energy Group Co., Ltd, causing the share price to drop from 36.2 yuan per share to 34.39 per share in a single day, a 5% drop in share price.

Just half a day, the net worth of the Qian Family Energy Group Co., Ltd dropped from 32.2 billion to 30.59 billion, a total of 1.6 billion yuan vanishing into thin air.

And very obviously, this was only the beginning.

...

The second day, 8 AM, after the stock market just opened, more of the shares were being sold. Just half an hour later, the share price started to drop again, from 34.39 to 32.67, another 5% drop, and the net worth dropped to 29.06 billion, another 1.5 billion vanishing into thin air...

What was worth mentioning was that while numerous shareholders were selling their shares of Qian Family Energy Group Co., Ltd, in secret, a few parties were buying up the shares. In just two days' time, they had bought 8% of Qian Family Energy Group Co., Ltd's total shares, and obviously, they were still continuing to do so...

...

From here, it could be seen how right the Bureau Chief was in preventing news of Hong Weiguo's impeachment to be leaked out to the media previously.

In fact, for large corporations like Sangle and Qian Family Energy Group Co., Ltd, it wasn't easy to truly destroy them. Their true worth lied in their share prices. As long as the share price didn't fluctuate too much, everything else didn't really matter.

In the information age, what would affect share prices the most? Without a doubt, it was information itself!

For Sangle, all of its information was being sealed, it could be said that the only news on Sangle during its impeachment was good news about its restructuring and the three magnates allying together. Practically no one knew of Sangle's trouble at that time, and its share price wasn't affected.

But as for the Qian Family, things were totally different.

The Bureau Chief didn't seal the news on the Qian Family. Therefore, its shareholders would sense its problem immediately, therefore selling away their shares.

Once the share price started to make large drops, what followed next would be even more drastic drops as others followed.

...

Tianhai City, inside Li Jing Hotel.

"Hahaha, it's just two days and we have already bought in 8% of the Qian Family's shares." Inside Hong Weiguo's room, the four of them were looked at the information on the computer screen. Liu Yihui laughed loudly and said, "Weiguo, well done! Your Dali is really incredible. With this 13 billion capital from selling the jades, plus another 11 billion the three of us invested, this total of 24 billion capital is enough to buy more than 51% of the Qian Family Energy Group Co., Ltd's shares! After we gained control of Qian Enterprise and release this news, the share price will rise back up and we will really make a large sum from this!"

"Hehe, Qian Guangzhao probably never thought that because he impeached Weiguo, the end result is his company being taken over by us, right? Haha!" Mu Tie was very happy.

"Yup, the current progress is not bad, but we mustn't be careless." Hong Weiguo looked at the statistics on the screen, touched his chin, and said in a deep voice, "From what I know, Qian Guangzhao holds about 22.54% of his company's shares. The other main shareholder is Toyoda Conglomerate, who holds 16.82% of the shares. Therefore, if we really want to gain control of the Qian Enterprise, we need to have more than 39.36% of the shares to be able to kick them out of the board of directors. Currently, the share price of Qian Family Energy Group Co., Ltd is falling drastically, we need to stabilize the share price eventually to prevent it from dropping too much. If not, even if we gain control of it, it wouldn't be easy pulling the share price back up. In that case, it wouldn't be very worthwhile doing all this."