Chapter 431 Decisive Action, Holding 41.6% of Shares!
With Hong Kong Telephone Company's market value not yet reaching HK$3 billion, for many people this might seem like an astronomical figure, requiring careful planning and immense effort to acquire.
However, for Lin Haoran, the funds needed to fully acquire Hong Kong Telephone Company were well within his manageable range.
After all, Jardines Matheson already held ten million shares of Hong Kong Telephone Company, representing over 10% ownership.
With this solid foundation, Lin Haoran was full of confidence in further increasing his stake and even completing a full acquisition. The cost would also be significantly reduced.
Backed by Jardines Matheson's robust financial strength and precise market judgment, this acquisition was destined to succeed smoothly.
Ma Shimin also suggested that, considering the unique nature of Hong Kong Telephone Company, it would be best to maintain its listed status.
That way, a full 100% acquisition wouldn't be necessary, and the total investment required would only be around HK$1 billion to HK$1.5 billion.
For Jardines Matheson, which had over HK$10 billion in cash reserves, this amount could easily be mobilized.
After hanging up, Lin Haoran quickly showered and went to bed.
If this had happened two years ago, he would have treated acquiring Hong Kong Telephone Company as a major event, possibly even losing sleep over it.
But after two years of tremendous growth and change, even a giant like Hong Kong Telephone Company seemed relatively modest compared to the empire Lin Haoran now controlled.
Moreover, he trusted the capabilities of the Global Investment Company team and Ma Shimin.
He was confident that by the time he woke up, he would receive good news from Hong Kong.
Soon, he drifted into peaceful sleep.
Meanwhile, back in Hong Kong.
After the call with his boss, Ma Shimin immediately contacted Dai Shi.
The strategy had changed: no longer limited to just 34.9% ownership—there was now no upper limit!
As long as the price was reasonable, they would buy as much as they could!
Jardines Matheson would prepare the necessary merger and acquisition documents.
Even if they triggered mandatory offer requirements with the Securities and Futures Commission, they could deal with it later.
When Dai Shi received the call, he was busy managing details of the stock absorption operation, analyzing the order books.
Upon hearing the updated directive, he perked up immediately and sought clarification.
"Mr. Ma, you mean we're no longer restricting ourselves to 34.9%? We're going to buy as much Hong Kong Telephone stock as possible?" Dai Shi asked.
"Exactly, President Dai," Ma Shimin replied with a chuckle. "As long as the price remains reasonable, buy all you can. Jardines Matheson will handle the merger filing paperwork—you just focus on executing boldly."
Since Jardines Matheson was funding the acquisition directly—rather than through Global Investment Company's accounts—Dai Shi didn't have to worry about cash constraints.
Now that it was confirmed this was a direct instruction from the boss, Dai Shi could execute the strategy even more aggressively.
"Understood. Don't worry, Mr. Ma. I'll begin immediately. At this pace, Jardines Matheson's holdings will exceed 40% by the end of today!" Dai Shi laughed.
Already holding 10.95%, plus nearly 15 million shares acquired that morning, Jardines Matheson had about 27% of Hong Kong Telephone Company.
Given the morning's trading volume across the four major Hong Kong exchanges, acquiring several million more shares—or even ten million—by afternoon was completely feasible.
Now, all they had to do was wait for the market to reopen.
Shortly before 1:00 PM, Dai Shi received updates from his subordinates regarding investor sentiment across the four exchanges.
Many investors who had chased the rising stock that morning now found themselves holding hot potatoes.
Some had placed sell orders at HK$27 or HK$26 per share, but the mysterious buyer had seemingly vanished after the first five minutes of aggressive buying.
Even during the lunch break, many investors didn't dare leave the trading floors, worried their sell orders would remain unexecuted.
The order books were now stacked with three to four million shares listed under HK$30.
The more sell orders there were—and the fewer buyers—the more pressure there was for prices to fall.
For many investors, it was pure torment.
At 1:00 PM sharp, as the four Hong Kong exchanges reopened, the trading halls erupted into noise and nervous energy.
Meanwhile, in Global Investment Company's office, Dai Shi sat calmly at the command center, surrounded by rows of traders at their desks, each equipped with a phone.
They were all focused, calling brokers across the exchanges, tracking the slightest price fluctuations of Hong Kong Telephone Company's shares, and making rapid buy/sell decisions.
Once the market opened, Dai Shi and his team began executing their strategy—quietly absorbing all shares priced near HK$25.
They carefully controlled the market rhythm: not letting the price fall below HK$25, nor allowing it to spike upwards.
This delicate balance was meticulously planned.
They knew if the price dropped below HK$25, more investors would panic and sell, drawing other speculators into the market.
If the price rose too fast, it would attract other big players' attention, complicating the acquisition.
To ordinary investors, though, the trading patterns were mysterious.
Watching the stock hover stubbornly around HK$25, they grew restless and suspicious.
Some feared they had been trapped by short-sellers.
The growing tension turned the trading floors into a cauldron of whispers and nervous glances.
Meanwhile, Dai Shi and his team remained calm, executing the plan flawlessly.
As time passed, Jardines Matheson's holdings continued to climb steadily.
Meanwhile, retail investors became increasingly disillusioned.
At least the stock hadn't collapsed entirely—hovering around HK$25 provided some small comfort.
Even if they had to sell at a loss, it wouldn't be catastrophic.
But for many short-term traders, it was deeply disappointing.
They had hoped to ride a wave of fast profits—only to find themselves stuck in limbo.
Many now faced a painful choice:
Sell and lock in losses?
Or hold and risk even deeper declines?
The once-coveted shares of Hong Kong Telephone Company seemed paralyzed, abandoned.
Fear that the price could crash below HK$25 began spreading, intensifying the selling pressure.
This was not an unreasonable fear.
Stock movements often reflect a complex blend of fundamentals, market sentiment, and momentum.
Despite being a quality company, Hong Kong Telephone Company now seemed sluggish compared to the roaring real estate sector.
But for Dai Shi and his team, this was the critical window.
They understood perfectly that by stoking fear and uncertainty, they could gather more shares at a lower cost.
They maintained their composure, monitoring every fluctuation, waiting for the perfect moments to buy.
As the afternoon wore on, the stock continued to hover near HK$25, but Jardines Matheson's ownership share kept increasing.
The investors' anxiety provided the perfect cover.
Quietly, share after share was absorbed.
Time slipped by like sand through fingers.
At 3:40 PM, Dai Shi reviewed the latest acquisition data.
Throughout the afternoon, they had quietly absorbed an additional 4.82 million shares—at an average price of about HK$25!
This significantly lowered their acquisition costs.
He quickly ordered a detailed tally of the remaining sell orders below HK$30.
The results: 8.69 million shares still up for grabs between HK$25 and HK$30.
With just ten minutes left before market close, Dai Shi made a swift decision.
"Buy all outstanding orders between HK$25 and HK$30!" he instructed.
The traders sprang into action.
As the trading bell rang, every single pending order had been swept up.
Some investors, realizing the shift, tried to cancel their orders—but it was already too late.
The final trade of Hong Kong Telephone Company stock for the day closed at HK$30 per share.
By the end of the day, Jardines Matheson had absorbed about 13.5 million additional shares.
Their total ownership of Hong Kong Telephone Company now stood at a staggering 41.6%.
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