1, privatization
March 30th, 20 1 1, I believe that Boss Zhou will never forget this day-Qihoo 360 landed on NYSE. However, the recognition of China Stock Exchange in the US market is not high. Boss Zhou doesn't like the valuation of $8 billion, so he plans to withdraw from the United States, that is, privatize.
2. Special Purpose Company
In order to achieve a certain goal, a specially established project company, two platforms (SPV) of Qihoo 360 privatization-Tianjin Qixin Zhicheng Technology Co., Ltd. and Tianjin Qixin Tongda Technology Co., Ltd.
3. Asset replacement
First of all, Jiangnan Jiajie valued itself at 65.438+0.872 billion yuan and sold itself, part of which (65.438+0.69 billion yuan) was sold to the actual controller and could be sold in the name of the project company. The other part is to exchange with 360.
Secondly, the asset replacement part was given to the shareholders of 360, but only 65.438+82 billion yuan, while the valuation of 360 was 50.465438+60 billion yuan, which means that Jiangnan Jiajie still owes 50.234 billion yuan, which is considered as an ant swallowing an elephant.
Then there is how to get this money? This is also the most critical link, that is, Jiangnan Jiajie issued 6.367 billion shares to 360 shareholders (including two SPVs, of course) at a price of 7.89 yuan per share. At this time, 360 shareholders became Jiangnan Jiajie shareholders.
At this point, 360 actual controller Zhou became the actual controller of Jiangnan Jiajie, and all its 360 businesses were successfully transferred to Jiangnan Jiajie. It is hard to say whether Jiangnan Jiajie was called Jiangnan Jiajie in the later period.
As a diaosi, I can only admire this capital trick of changing cages for birds. I wish boss Zhou a comfortable life in A shares.