Since the Simons arrived at the New York Stock Exchange headquarters at 7 o'clock in the morning, the atmosphere inside and outside the century-old stock exchange building has become more and more heated as more guests arrive.
Not only the core executives of Daenerys Entertainment Group such as Amy Pascal and Robert Egger, but also a large number of executives from various fields such as Igret Corporation, Cersei Capital, Verizon Telecommunications, etc. in the Westeros system They all arrived one after another. As an entertainment giant rooted in Hollywood, the large number of movie stars, pop singers and supermodels invited to attend the ceremony made the New York Stock Exchange, which in the past only gathered a large number of people from the financial street, appear star-studded.
As usual, the Yigret portal broadcast live broadcast of today's listing ceremony.
When the time came to 9 o'clock in the morning, the total number of viewers watching the listing live broadcast worldwide had exceeded 26 million.
All the attention is no longer enough to describe this grand occasion.
At 9:15, a group of Daenerys Entertainment’s core executives who took turns accepting media interviews began to gather on the bell-ringing ceremony stage. Daenerys Entertainment CEO Amy Pascal delivered a listing speech on behalf of Daenerys Entertainment.
The job was supposed to be Simon's.
However, according to a joking statement in my memory, even though his strength did not allow it, Simon still adhered to a low-key public strategy to the greatest extent, and did not show up as much as possible without being exposed.
In fact, the title of chairman of Daenerys Entertainment Group that Simon currently holds was originally intended to be passed on to Amy Pascal.
In fact, if you do this, it is equivalent to freeing up a promotion step for many people.
However, after the matter was raised, the entire Daenerys Entertainment management expressed opposition. Although everyone understood that even if Daenerys Entertainment was not named in any position, Simon would not turn a blind eye to the company, but public investment People don't necessarily think so. As the Westeros system becomes larger and larger, they may think that Simon plans to completely put down the management of Daenerys Entertainment, which will inevitably affect the market's perception of this company after the company goes public. confidence.
As a person who values medium and long-term investment at heart, Simon doesn't care so much about the short-term stock price fluctuations of various companies in the Westeros system, but he also has to consider the interests of many other people.
At 9:30, the New York Stock Exchange opened.
The Simons, Amy Pascal, Robert Egger, Nancy Brill and other senior executives of the Westeros system pressed the button together under the gaze of tens of millions of viewers on the trading floor, live TV broadcasts, online live broadcasts and other media channels. Pressing the button symbolizing the start of trading of Daenerys Entertainment Group’s stocks officially completed today’s bell-ringing ceremony.
However, for most people paying attention, the exciting day has just begun.
After the bell-ringing ceremony, the stocks of the IPO companies will not start to trade freely in the secondary market immediately, but will enter the inquiry stage of investors from all over the world in order to reasonably determine an opening price based on the market's true purchasing intention. It can ensure that the formal trading stage will not cause congestion in the trading system due to large batches of buy orders in a short period of time.
A typical corporate IPO usually only goes through two or three rounds of bidding. The market usually opens at 9:30 and can be officially traded before 10:30.
After the bell-ringing ceremony was completed, the Simons, the executives of the Westeros system, a large number of media reporters and many guests at the scene were not in a hurry to leave. There was only one hour of inquiry time, and everyone did not lack this patience. Everyone wanted to personally Witness what level the stock price of Daenerys Entertainment, which has an IPO valuation of US$53.1 billion, will reach when it officially opens.
Through feedback from various parties such as IPO roadshows and media comments before listing, Daenerys Entertainment’s stock price will inevitably rise again based on the issue price on the day of listing. This is a fact that everyone has recognized. Just how high the share price of Daenerys Entertainment can rise on the first trading day of listing, the predictions given by the media and industry analysts are quite different.
Conservatives believe that the closing market value of Daenerys Entertainment Group on its first day of listing should be between US$60 billion and US$70 billion. After all, this is already the top market value of American companies at this stage.
Some people believe that Daenerys Entertainment can break General Electric's position as the No. 1 market value company in the United States on the first day of trading.
As of yesterday's close, GE's stock price had hit a new high, reaching $81.7 billion, as the U.S. economy recovered.
For Daenerys Entertainment to surpass GE in market capitalization on the day of its listing, the stock price increase on the first day needs to reach 53%. Even if Daenerys Entertainment's market capitalization is too large, given the recent capital market's expectations for Daenerys Entertainment, It is not difficult to achieve this goal.
The most optimistic argument is that Daenerys Entertainment's market value will break through the US$100 billion mark on the first day of listing, becoming the first listed company in US history with a market value of US$100 billion.
This is not without purpose.
According to Daenerys Entertainment’s previously announced financial report for the first quarter of 1994, from January to March at the beginning of the year, Daenerys Entertainment’s single-quarter revenue was US$5.627 billion, an increase of 37% compared with the same period last year. Achieved net profit of US$653 million, a year-on-year increase of 16%.
According to this financial report, Daenerys Entertainment's revenue for the entire year of 1994 is conservatively estimated to be around US$22.5 billion, and the annual net profit will not be less than US$2.6 billion.
Therefore, even if the market value of Daenerys Entertainment exceeds 100 billion on the first day of listing, it will only be equivalent to a price-earnings ratio of 38 times.
The U.S. stock market has continued to recover since the Gulf War. There are many companies with price-earning ratios close to 40 times, not to mention Daenerys Entertainment, a super entertainment giant that single-handedly suppresses all other Hollywood film companies.
The first round of inquiry takes longer.
At 10 o'clock, the electronic display board on the New York Stock Exchange trading floor finally showed the results of the first round of inquiry, with the quotation range ranging from US$24.75 to US$25.25.
Compared with the issue price of US$22.5, it increased directly by 10%.
Many people inside and outside the exchange couldn't help but calculate. Based on three rounds of price inquiries, Daenerys Entertainment's stock price may rise by 30% compared to the issue price when it opens, which is equivalent to directly breaking through the market value of 70 billion US dollars.
However, the development of things still far exceeded everyone's expectations.
After the second and third rounds of inquiry at 10:15 and 10:30, the quotation range has risen to US$27.5 to US$28.5. The increase of approximately 24% in the third round of inquiry is slightly lower than some people's expectations. However, , feedback came quickly from the exchange, and investor inquiry applications were still very active. In other words, three rounds of inquiry are not the end, things will continue.
Many on-site guests who originally planned to leave the New York Stock Exchange after the stock market opened had no idea that time had slipped by for an hour unknowingly.
Everyone chose to stay and wait.
Not only did the live audience of the Ygrit Portal not decrease because of the end of the bell-ringing ceremony, but it continued to increase during this hour. Around 10:30, the total number of viewers had exceeded 31 million.
Then the inquiries continued.
Round 4: 30.25-30.75
Round 5: 31.5-32.25
Round 6: 32.75-33.25
Round 7: 33.75-34.75
Round 8: 35.25-35.75
In 1994, although electronic trading had begun to become more widespread, in order to reduce the data processing load during stock trading, stock quotations were still based on one-eighth of each share as a fixed unit, that is, each price change must not be less than 0.125 Dollar.
It was not until 11:45 that countless viewers who had waited for more than an hour beyond expectation, and were so excited that they were already numb, finally looked forward to the results of the eighth inquiry in the last round.
The U.S. stock market does not close at noon.
So, at 12 o'clock, the New York Stock Exchange finally announced that Daenerys Entertainment shares would officially begin trading at an opening price of $35.5.
As of this time, compared to the issue price of US$22.5, Daenerys Entertainment's stock has increased by 57%, with an opening market value of US$83.3 billion, directly overturning General Electric to the second position and ranking first in the market value of listed companies in the United States. name.
General Electric's record was easily broken, can 100 billion be far behind
With this kind of doubt and some weird expectations, countless eyes are still paying close attention to the movement of Daenerys Entertainment stocks after the official opening.
The Simons originally thought they would be able to leave the New York Stock Exchange around 10:30, but they did not expect to wait until noon.
Daenerys Entertainment prepared a lunch reception at the Hilton Hotel in Lower City, not far from the New York Stock Exchange, to entertain the guests and media present today. Due to this delay, everyone arrived at the hotel banquet hall one after another around 12:30, which was a short time before the planned event. The start time of the cocktail party at 11:30 has been delayed by an hour.
However, no one cared about such details at this time.
Even after arriving at the hotel, the topic of discussion was still where Daenerys Entertainment's stock price would end at the close today. Some guests even secretly hid in a corner to answer a phone call or two during the reception.
She went to bed very late last night and got up early today. She also maintained a state of excitement for the whole morning. Janet did not come to attend the cocktail party and returned directly from the New York Stock Exchange to her apartment on Fifth Avenue, planning to take a good nap in the afternoon. Sleep.
But Simon couldn't leave together and rushed to the Hilton Hotel alone.
"Our market analysis team has collected the first batch of audience questionnaires on the East Coast this morning. Everyone's feedback on "Forrest Gump" is very positive. They think it is very interesting and worth watching. More than half of the viewers said they would watch "Forrest Gump". Recommended by people around me. Although the specific results will not be released until tonight, this is already a very good sign, and the box office of the film should not be too bad."
In the banquet hall.
There have been too many discussions about IPO, and Simon and Amy talked about "Forrest Gump", which officially opened on a large scale today.
Everyone knows that the box office success or failure of "Forrest Gump", which happens to happen at the same time, will greatly affect the box office trend of Daenerys Entertainment in the next period of time.
Now that it has been listed, even if Simon still firmly holds absolute control of Daenerys Entertainment through the dual-class share structure, many things must be done in accordance with the rules. Protecting a company's stock price is something that both a company's shareholders and management must do their best to do their best to do.
To achieve the phenomenal movie-viewing effect of word-of-mouth, the most important aspect of audience feedback is that more than half of the audience recommend it to people around them.
Although Amy's attitude is still conservative, in the morning's questionnaire, this index has reached the standard.
Simon was basically relieved and said: "We can discuss the additional publicity budget now. You can arrange it in the afternoon and add an additional US$10 million first."
Amy thought for a moment, nodded, and then said: "I will allocate this part of the budget to other films."
Spreading loss budgets is a common practice for many film companies to whiten their financial reports.
Before the IPO, Daenerys Entertainment did not have this practice because it was not necessary, and Simon also required management to provide him with 100% accurate financial data.
Now, since it has become a listed company, it often has to take some special financial measures.
If the water is clear, there will be no fish.
Simon is not averse to companies covering up and whitewashing when necessary, but this time he objected: "No need, just include it in the budget of "Forrest Gump". Amy, Daenerys Entertainment The efficient management system over the years has been hard-won, and I don’t want Daenerys Entertainment to make unnecessary changes so quickly to cater to market rules. Sometimes, when something is lost, it can be very difficult to get it back. "
Amy felt her boss' serious gaze and nodded solemnly.
The two chatted for a few more words. Verizon Telecom CEO Raymond Smith came over to say hello, and Amy walked away on her own initiative.
After being acquired by the Westeros system, Verizon has been making efforts in mobile communications layout and focusing on the expansion of overseas markets in recent years.
Now, both aspects of the layout have reached a considerable level. If Verizon wants to go further, it can only look forward to the further relaxation of telecommunications regulations in the United States.
The Westeros system originally promoted bills related to telecommunications reform very smoothly. However, due to the disruption of the Hearst family some time ago, Daenerys Entertainment's layout in lobbying for related bills was severely frustrated, and it caused the ongoing efforts to With the widespread attention of many congressional candidates in the mid-term elections, there is no hope that this matter will make any progress in the short term.
Raymond Smith could only envy AOL.
This Internet service provider, which relies on the emerging Internet industry to take advantage of the loopholes in U.S. telecommunications laws, does not need to be subject to the legal restrictions that Verizon can only operate in a few fixed states, and can spread its business across the United States.
Although pure Internet access services are much thinner than AOL's investment in basic equipment, as long as the U.S. telecommunications regulations are relaxed, AOL can easily integrate its business with the hundreds of thousands of kilometers of fiber optic networks it has laid in the United States. Expanding into the fields of cable TV and fixed-line telephones will inevitably seriously impact traditional cable TV and fixed-line telephone operators.
It stands to reason that traditional telecom manufacturers should be opposed to the relaxation of telecom regulations.
Quite the opposite is true.
Regional telecom companies such as Verizon also have the ambition to expand to the entire United States. If they want to do this, even if they understand that the relaxation of telecom regulations will make AOL even more powerful, they have to participate in promoting the reform of federal telecom regulations, otherwise , they can only sit trapped in one city and one place and slowly decline.
The Westeros system has completed its potential layout in the fields of Internet services, cable TV, fixed-line telephones, etc. through America Online. Raymond Smith understands that Simon cannot support a second similar telecommunications giant, and neither can the US government. allow. Therefore, Verizon's development focus can only be directed to the emerging mobile communications field.
According to the rapid growth momentum of the mobile communications industry in recent years, Raymond Smith also determined that the future market size of this field will not be much worse than the traditional telecommunications industry.
While everyone was drinking and cheering at the Hilton Hotel, on the New York Stock Exchange, Daenerys Entertainment's stock price surged after the official opening, and it still did not stop rising.
The high opening stock price not only did not inhibit the trading activity of this stock, but further stimulated the purchasing desire of investors around the world.
When the reception lasted until about 1:30 p.m., and an hour and a half after the official opening, exciting news came from the New York Stock Exchange. Daenerys Entertainment's stock price rose by 88%, reaching $42.375. Based on Daenerys Entertainment’s total share capital of 2.363 billion shares, the market value has officially exceeded the US$100 billion mark.
Then, the miracles still didn’t stop.
After exceeding US$100 billion in market capitalization, Daenerys Entertainment's stock price finally fluctuated, but the overall trend is still upward.
At 3:46 p.m., Daenerys Entertainment's stock price broke through a high of $45 during the upward shock, achieving a 100% increase on the first day of listing.
Then, in the last forty-plus minutes of trading this week, the stock became increasingly active.
Finally, the time came to 4:30 pm.
At the close of the U.S. stock market, Daenerys Entertainment's stock price was finally fixed at $47.75. Compared with the issue price, the stock price rose as much as 112% on the first day of listing. The final closing market value not only exceeded the $100 billion mark, but even went further, reaching an astonishing $1,128 The high level of US$100 million is unstoppable!