Now they want to take Deep Sea Bank public, and everyone present understands that once Deep Sea Bank is listed, it will certainly beco the largest publicly traded company in the United States, and the benefits it will bring to them will be enormous.
"Block, we have been issuing bonds continuously for the past two years to increase investnt in Florida. Although there are still three years left until the first batch of bonds matures, our investnt is already substantial!"
Pierre DuPont also spoke up.
To accomplish the feat described above, a continuous influx of capital is needed. The initial $500 million in cash prepared by Venus Bank for Deep Sea investnt, as well as $1 billion in cash from bond issuance, was already spent by 1927. To ensure Deep Sea Bank’s growth, they subsequently issued bonds twice more, once for $700 million and once for $500 million!
It can be said that Florida at this ti exceeded the other tiline’s reason, because Deep Sea Bank was built upon piles of money.
Donnie said with a smile, "Everyone, when we first collaborated, I already ntioned that going public was only a matter of ti. Now that the stock market in the United States is doing so well, and since you all are in such a hurry, let’s start preparing for Deep Sea Bank to go public!"
Although everyone knew beforehand that Donnie would certainly agree to this request, hearing Donnie personally confirm it made everyone present very happy.
It must be noted that Deep Sea Bank has five group shareholders, represented by the five people sitting in this eting room.
Among them, Venus Bank holds 48% of the shares, with the other four each holding 13%.
Florida National Bank is a wholly-owned subsidiary of Deep Sea Bank.
Now, everyone is sitting together to plan the IPO of Deep Sea Bank, following the A/B stock strategy proposed by Tang Fei.
Each A share has the voting rights equal to 5 B shares.
Moreover, A shares are not allowed to be privately traded; they can only circulate within the five consortiums.
Secondly, according to their previously discussed agreent, after Deep Sea Bank goes public, 80% of the shares will be released as B shares, and the remaining 20% will stay with their five consortiums as A shares.
Combined, Deep Sea Bank will have 300 million shares, with 240 million B shares and 60 million A shares.
However, in terms of voting rights, A shares hold voting rights equivalent to 300 million shares, aning that even if soone acquires all the circulating B shares in the market, they won’t get voting control over Deep Sea Bank.
Of course, if insiders collude with outsiders, a different situation could arise.
The distribution of Deep Sea Bank’s A shares is: Venus Bank holds 28.8 million shares, while the other four each hold 7.8 million shares.
If A shares and B shares had the sa voting rights, Deep Sea Bank would have 540 million shares, with Venus Bank holding 144 million shares, amounting to approximately 27% of the voting rights.
It may seem like Venus Bank’s control over Deep Sea Bank is not absolute, but in reality, it is different. First, no enterprise can, under Venus Bank’s watch, acquire all of Deep Sea Bank’s B shares completely.
Secondly, within their five consortiums, as long as Donnie and Walker are alive, there will never be any betrayal among them.
Moreover, there’s llon Bank, and William llon is the last glory of the llon Family. After William llon, the llon Family will retire to the background, with professional managers taking over the managent of the entire llon Consortium, and what will happen then is another story.
Lastly, not all 80% of the B shares will be sold; a portion will beco incentive shares for Deep Sea Bank’s managent.
Finally, Venus Bank holds a veto power over Deep Sea Bank!
The reason why four families are so eager for Deep Sea Bank to go public is primarily because Deep Sea Bank is currently the largest unicorn in the Arican business landscape.
According to assessnts by multiple authoritative agencies on Wall Street, Deep Sea Bank’s market value has already exceeded $5 billion.
After discussions among Donnie and others over the next few days, they finally decided to offer Deep Sea Bank’s shares at $18 per share, initially selling 70 million B shares.
The remaining unsold shares naturally remain in the hands of the five families.
That is to say, the initial sale alone will bring Deep Sea Bank at least $1.26 billion in cash.
Moreover, they have already decided on how to use this money. They will take out $500 million in cash and distribute it as dividends to the five groups present.
In simple words.
Deep Sea goes public, feeds five families!
As for the company responsible for Deep Sea’s IPO, they adhere to the principle of keeping the benefits within themselves, assigning Venus Bank, Morgan, and llon the responsibility.
The matter of listing Deep Sea Bank was finalized three days later.
After confirming everything, Robert was tasked with handling the company’s IPO.
The five of them then exchanged views on other issues related to the future developnt of the United States before leaving Miami.
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