Chereads / I Become A Noble in England / Chapter 291 - Chapter 291 Baidu Refinancing

Chapter 291 - Chapter 291 Baidu Refinancing

The next day, when Barron woke up, he found that in his arms, there were two blonde beauties lying on each side, full of warmth and fragrance...

  At this time, he gradually recalled the madness of last night.

  Well, it is indeed crazy...

  He gently pulled his arms away and escaped from the embrace of the beauties.

  I don't know if it was because they were too tired, but during this process the two blonde beauties just turned over and continued to be immersed in their dreams without waking up.

  When Barron stood up beside the bed and looked at the scene above, he couldn't help but sigh...

  Although Xiao Tiantian is beautiful and has a sweet voice, her voice may become hoarse and even broken at certain moments...

  Avril, who looks cool and gives people the impression of an iceberg beauty, can also be passionate and even crazy...

  …

  This time, Barron was invited to Saudi Arabia and deliberately established good relations with Prince Waleed, which naturally had his own purpose.

  Of course, at last night's welcome party, Barron did not just find two bed partners - that was just a side benefit.

  In addition to meeting Salman again at yesterday's banquet and deepening his relationship with the future crown prince, Barron also got to know more wealthy people in the Middle East...

  "Your Highness, Mr. Sheen has arrived in Yanjing and met with Mr. Li from Baidu..."

  After Barron had breakfast, Alia reported to him.

  Business matters were originally handled by Barron's personal assistant Wang Wanting, but there are still many rules for women in Saudi Arabia today. Even foreign women entering the country need to wear a robe and a headscarf when going out.

  Therefore, among the women accompanying him this time, Barron only brought Alia, who was more familiar with the local customs. The rest of the female entourage would meet at the next stop - Yanjing.

  So, at this time, in addition to her duties as a life assistant, Alia also needed to take on some extra work that was originally done by Wang Wanting.

  In fact, earlier, DS Holdings CEO Amber Sheehan had already gone to China to negotiate with the other party regarding Penguin's IPO in Hong Kong.

  In addition to the fact that the location for Penguin's IPO was chosen to be Hong Kong, which was decided by Penguin's largest shareholder DS Holdings and Pony, the proposal for Standard Chartered Bank to be the sponsor and underwriter for Penguin's listing was also mainly proposed by Barron.

  It is now seven o'clock in the morning in Saudi Arabia, and Yanjing time is 5 hours ahead of here, so it is already noon in Yanjing.

  Barron picked up the phone and dialed Amber's number.

  "Your Highness, I'm with Hock now. Yes, we have already reached an agreement with Robin on Baidu's financing and secured the largest share..."

  On the phone, Amber Sheen told Barron that he had come to Yanjing with Chen Fuyang, the head of Rich23 Capital, and had reached an agreement with Robin Lee, the founder of Baidu, on their third round of financing.

  In Baidu's previous Series B financing, DS Holdings purchased 5 million preferred shares of Baidu at a price of US$3 per share - these preferred shares will be exchanged for common shares at a 1:1 ratio when Baidu goes public.

  By early June 2004, Baidu had become the world's largest Chinese search engine with over 300 million Chinese web links and over 60 million daily traffic.  

  Eventually, it established itself as the industry leader in China.

  Then at this time, Baidu began to prepare for the third round of financing, which will also be the last round of financing before they go public.

  Because Robin Lee has decided to lead Baidu to go public in the United States next year.

  According to the intention they reached, Baidu will still raise US$15 million this time and will sell a total of approximately 2.25 million shares of Series C convertible preferred stock (convertible preferred stock of the C round of financing) to eight investors at a price of US$6.67 per share.

  Among them, Google will invest US$5 million and subscribe for approximately 745,000 shares; Rich23 Capital will also invest US$5 million and subscribe for approximately 745,000 shares.

  The remaining shares will be divided among early investors including Integrity Partners and Peninsula Fund and new shareholders.

  The most eye-catching thing in Baidu's financing this time is that Google, which is also committed to the field of Internet search, participated in their financing this time.

  In addition, DS Holdings did not participate in the financing, but instead secured one-third of Baidu's Series C financing for Baron's offshore investment company Rich23 Capital.

  In fact, Baidu is no longer short of funds - their search business has already achieved stable profits.

  The reason for this C round of financing, which is the last round of financing before they go public, is mainly for their future development and listing in the United States next year.

  It is worth mentioning that Google's participation in Baidu's financing was the result of DS Holdings' mediation.

  The "joint effort" of these two major competitors is not so much a move by Google to strengthen its competitiveness in the Chinese market as it is a move by Baidu to increase its visibility in the international market, which will be more conducive to its listing.

  You should know that Google, as the world's most well-known search engine, has already started the IPO process and is expected to be listed on the Nasdaq in the second half of the year.

  Now, when Chinese Internet companies go public in the United States, if they hope to obtain satisfactory valuations, they first need to have "model companies" with similar businesses in Silicon Valley for comparison, so that they can gain the attention and trust of American investors.

  Then Google, which is about to be listed on the Nasdaq market, will be Baidu's model on the Nasdaq. Now with Coogle's investment, Baidu's chances of going public will be better.

  DS Holdings, which currently holds shares in both Baidu and Google, is very suitable to serve as the intermediary liaison between these two "rivals" that compete with each other in the Chinese search market.

  As DS Holdings holds shares in many Internet companies, it is naturally also highly valued by Baidu.

  The reason why Rich23 Capital participated in Baidu's financing this time was not DS Holdings anymore. This was because after the release of various rich lists at the beginning of this year, Baron wanted to speed up the process of hiding his wealth. Otherwise, when the companies he invested in went public one after another, he would probably become the world's richest man on the rich list...

  Next year, after Baidu goes public, the 5 million shares of Baidu convertible preferred stock held by DS Capital will be converted into common stock, which will generate more than 40 times the return.

  Therefore, he arranged for Rich23 Capital to participate in Baidu's financing this time. After all, the price of Baidu's preferred shares in this financing was US$6.67, which was more than 18 times higher than the closing price of US$122.54 that Baidu would eventually reach on the day of its listing, which was considered considerable.

  In addition to Baidu's financing, Rich23 Capital will also participate in the subscription of Penguin's public offering of shares when it goes public, and continue to buy their shares after its listing.

  South Africa's MIH Group will not sell the remaining shares of Penguin.

  After Penguin Company goes public, their stock price will experience a short-term decline, which is also an excellent opportunity to buy Penguin Company shares, which are considered "cheap" at this time.