<h4>Chapter 1249: Chapter 1105 ’Injured’ Steve Jobs (Please subscribe!)</h4><h4></h4>
Hanfrai was a loyal fan of ERV.
He was very optimistic about its future.
However,
the issuance of stocks in the United States was different from Huaxia. New shares were ’allotted’ by the underwriters who contacted clients in advance to sell them, unlike in Huaxia, where shares could be applied for directly.
But there was no small chance of breaking the issue price.
FACEBOOK had the same experience back then, with the stock price falling below the issue price on the day of the listing. Thus, the frenzy for new stock subscriptions in the United States was not high, unlike in Huaxia, where buying new was almost always profitable.
On average, more than a hundredpanies went public each year.
Two to three hundredpanies were delisted.
Such high delisting risks made the investments over here more rational.
That was the reason for the ’road show’ element.
It was to give investors confidence.
If it was ordinary stock,
Sales would be a problem.
But with ERV,
in just three days, it was fully subscribed.
Ordinary customers couldn’t even scramble for it, and in the U.S., new stock subscriptions were not a retail investor’s game. Retail investors could only trade in the secondary market, while the most delicious slices of the cake were, of course, reserved for big clients who had ongoing cooperations.
Hanfrai didn’t used to specte on stocks.
He wasn’t a major customer of securities brokers or investmentpanies.
Naturally,
Even though he had tens of millions of US dors in the bank,
He hadn’t gotten his hands on any new ERV stocks. In fact, it would have been possible, but it was too much trouble. Hanfrai disliked hassle, so since he couldn’t buy the new stock, he decided to buy on the stock market instead.
Anyway,
He didn’t think he would lose money.
If you could lose money investing in apany like ERV, then there were hardly anypanies worth trusting.
"Billy, what about you?" Hanfrai asked.
Afterwards,
Billy’s ’crafty’ voice came through.
"Heh heh, I got my hands on some new ERV stock, two million US dors’ worth."
"How much do you n to sell it for?"
"Sell? I don’t have that n right now. I’m optimistic about ERV’s future," said Billy, who as a person of high intellect always felt ying games was beneath him. Now when ying games, he felt his intellect wasn’t up to par.
People like him,
Had considerable respect for those more formidable than themselves.
He was preparing for a long-term investment.
"Just like I thought. I’ll spend the ten million dors, and then I won’t worry about it," Hanfraiughed too, perhaps this would be the highest return investment of his lifetime.
"Then let’s just wait for tomorrow’s listing ceremony."
"Okay."
For such a significant event,
There would definitely be media live broadcasts.
ERV,
Had already be the capital market’s annual feast.
...
Goldman Sachs.
Headquarters.
The meeting concerning ERV’s listing had been going for over an hour.
Yet, nobody in the room felt tired; rather, they were invigorated because they would witness the rise of another greatpany, a point the analysts confirmed with utmost certainty.
And the market’s response
Gave them even greater confidence.
ERV’s IPO amounted to forty billion US dors, with Goldman Sachs underwriting forty percent of it, the highest portion among all securities brokers. Now, all the shares were underwritten and received unanimous praise from major clients.
When they first started the listing process,
They all thought ERV was truly crazy.
Forty billion dors.
Twenty percent.
That meant ERV was valued at two hundred billion dors.
Such figures
Were unprecedented in history. The frantic rush of their clients nearly tempted all the major brokers to use their over-allotment option, which meant if brokers sold well, they could offer an extra fifteen percent of the shares to their customers.
Initially meant to issue a hundred shares,
With so many buyers,
Brokers could increase it to one hundred fifteen shares, bringing the total IPO scale to forty-six billion US dors.
Nevertheless,
Considering the increase of circting shares, after all, it was a destabilizing factor. Capital’s chase for scarcity was more advantageous than satisfying them, so they didn’t use their over-allotment option.
Less meat,
Highlighted its significance even more.
If it were apany without potential, they would opt to use it, as selling more is always good.
But ERV was different.
It had boundless prospects.
There was a lot of room for future operations, so they didn’t care about such ’trifling profits.’
"After ERV’s listing, clear out the orders in your hands. This time, we must fight a battle that history will remember," the investment department manager, his face flushed with excitement, told the traders before dispersing the meeting.
As an investmentpany,
And also a securities broker,
The capital they managed was beyond what outsiders could imagine.
In response to ERV,
Clients were calling with a single demand—buy. Of course, it wasn’t an irrational buy, but a reasonable allocation, investing ten to twenty percent of their funds in ERV’s stock—
Was the operation of most.
Goldman Sachs held arge number of shares.
They would also throw out some when the time came.
Otherwise,
If everyone held on to their shares,
How could the stock price grow?
You have to know,
The stock market is a zero-sum game.
No money is created out of thin air, nor does money disappear into nothing. For example, if a stock is worth ten dors, to increase its price to eleven dors, somebody has to bid eleven dors, and a transaction has to be reached between the parties.
Otherwise,
The original price of ten dors,
Even if someone bids a hundred dors, if there’s no transaction, the stock price remains ten dors. Therefore, stocks only showcase their full value when they are in cirction.
Individuals tend to hold for the long term.
Investmentpanies lean towards frequent trading.
...
Apple.
Headquarters.
Watching ERV, which had been the hot topic for months,
Steve Jobs felt a bit disappointed.
He had thought the release of the first-generation Apple product would keep Apple in the media spotlight for a considerable time. Yet, all his expectations were wishful thinking. Not long after the release,
ERV ’went crazy.’
Announced it was going public.
Initially, the Board of Directors talked about a fifteen billion dor IPO, whichter increased to forty billion dors. It went that high, so it did, and you sold out so quickly with a long queue still waiting!
Starting with World magazine,
Over these months,
ERVunched arge number of projects.
Each one solidified ERV’s position to some extent and garnered capital favor that even Apple had not enjoyed. Meanwhile, Apple’s first-generation device could only be relegated to minor news.
Not only that,
When it rains, it pours.
The weak performance of the first-generation Apple device made Jobs uneasy as Quam’s new Snapdragon processor was much better than the one developed in cooperation between the two, and many industry giants were ready to adopt it directly.
Apple was in a tough spot.
The performance gap in the chips was quite significant.
The first-generation device was even rated ’behind in performance’ by many media outlets and experts, meaning that hardware was evolving so rapidly their product was outdated before it even hit the market.
This hurt him and his team deeply.
"Expedite the research and development of the next-generation Apple device, abandon the original chip, and adopt Quam’s existing Snapdragon processor right away. We can’t dy this; I’m feeling very uneasy," Jobs instructed his subordinates.
"Yes."
They also felt that at this moment, Apple shouldn’t be too persistent. If they waited for the next-generation chip to enter production, they would have to wait at least eight months or more, and it was unpredictable what could happen by then.
They couldn’t afford to wait.