14 years old, 200 yuan started with money.
1978, 14-year-old Liu Zhongtian borrowed 200 yuan to start timber trade in Changbai Mountain. By 1984, the trade environment in Northeast China was gradually overshadowed by Jiangsu and Zhejiang businessmen, so Liu Zhongtian turned to chemical industry to produce refractory coatings for local steel mills. 1992, steel mills declined and cement plants prevailed. In Liu Zhongtian, Chengcheng Plastic Weaving Factory was established to supply woven bags to nearby cement plants. 1993, Liu Zhongtian, who was less than 30 years old, founded Liaoning Zhongwang, a Sino-foreign joint venture company, specializing in the production of aluminum profiles for door and window frames in the construction industry, making Liu Zhongtian the richest man.
On May 8, 2009, China Zhongwang Holdings Co., Ltd., the third largest aluminum profile manufacturer in the world and the largest in Asia, was listed on the Hong Kong Stock Exchange, raising $654.38+0.3 billion, making it the largest IPO in the global capital market in September 2008.
Cooperation with investment banks in listing was blocked.
In 2003, China Zhongwang was transforming from producing building profiles to industrial aluminum profiles, and almost all the working capital was spent on plant construction and equipment customization. The investment cycle of this transformation is long, and the equipment manufacturing cycle only takes three years. Private enterprises passively seek bank loans, and the shortage of liquidity makes Liu Zhongtian want to go public.
In 2004, when an investment bank came to Zhongwang again to lobby for listing, Liu Zhongtian did not refuse. Subsequently, with the cooperation of investment banks, Zhongwang initiated the structural reorganization of internal listing. For these complicated procedures, Liu Zhongtian held several meetings in Hong Kong, but there was no progress in listing. In 2007, after being summoned to Hong Kong by the United States to attend a similar invalid meeting, Liu Zhongtian couldn't help but break into a furious rage and stopped the preparation for listing.
China Zhongwang successfully went public.
The cooperation with investment banks continued to be suspended, and Zhongwang began to sort out the organizational framework from the inside. BVI and Hong Kong Holding Company, which paved the way for the listing of red chips, were also established in 2007. After basically sorting out the incurable problem of investment banking, Zhongwang launched the second investment banking selection and chose CITIC Securities and UBS.
In August 2008, American Taishan International Investment Company and American Shida Capital Co., Ltd., which specialize in SME investment projects, invested US$ 300 million (Shida loan of US$ 200 million) in Zhongwang, provided that as long as Zhongwang completed the listing of Taishan within one year after the investment, the interest rate of the US$ 654.38 billion convertible bonds invested by Taishan was zero, and the price of Zhongwang was 20% lower.
The negotiation was very successful. Only eight months later, Zhongwang successfully went public.