"Mr. Zhang, the prospectus of Yimin Wealth has been submitted to the SEC and is expected to be listed on the New York Stock Exchange around July."

Ding Siyao made an overseas phone call to Zhang Yida in the United States and shared the good news.

"good."

It is not easy for Chinese companies to enter the New York Stock Exchange. They must meet at least one of two criteria:

The company must be profitable for three consecutive years, and the total pre-tax net profit for the three years must exceed US$10 million. If the company is only profitable in the last two years, the total pre-tax net profit for the three years must exceed US$12 million;

Or, the company's annual sales revenue is at least US$75 million, and the IPO market value exceeds US$750 million.

Yimin Wealth obviously met both conditions. The reason why it chose the New York Stock Exchange for listing was that, in addition to having a higher gold content than Nasdaq, the most important reason was that Ding Siyao wanted to be listed on the same exchange as its competitor Noah Wealth.

Over the years, she has often heard her subordinates complain about Noah's wealth.

For example: Noah Wealth's financial planner relies on the fact that he is a listed company and has a strong brand. He often looks down on others and looks down on other peers.

Customers also trust Noah Wealth more, which is a listed company, because they can easily find the company's financial reports and various operating data by searching online.

Putting money in the hands of such a company with a market value of billions of dollars will undoubtedly give customers more peace of mind.

Therefore, whether Yimin Fortune wants to feel proud or to improve its own brand and seize more market share, it must complete the listing.

However, Yimin Fortune has just submitted its prospectus and is still in the "red herring" stage. During this period, the company is not allowed to disclose its IPO plan to the public or accept media interviews.

Otherwise, the board of directors, securities firms, lawyers, etc. will be severely punished by the SEC.

Therefore, Yimin Wealth can only keep a low profile and cannot be in the limelight in the short term.

"By the way, Mr. Zhang, I plan to go directly from the United States to Singapore to join the team sent from China to open Yimin Wealth's Southeast Asia operations center in Singapore."

"Yes! This idea is quite good. Whether it is going out to develop overseas business or helping domestic customers with global asset allocation, Singapore is a very suitable place.

Singapore benefits from a stable political situation, a good and solid financial foundation, an international financial trading platform and a strong and transparent financial regulatory system. It has now become the world's most important offshore wealth management center after Switzerland.

In addition, Singapore is also recognized as the domicile of the world's best fund and wealth management companies."

Zhang Yida paused and then asked: "Have you thought about the license issue? If you don't have a license in Singapore and you want to start financial business, the fines will be ridiculously high."

Ding Siyao smiled, "I know this. Any individual or institution in Singapore needs a license to conduct financial business.

What we want to get this time is the Singapore CMS license!”

"CMS license?"

Ding Siyao knew that Zhang Yida's career focus in the past two years has been on various Internet companies and rarely asked about Yimin Wealth, so he explained:

"Securities, futures and fund management are Singapore asset management licenses, also known as capital market services licenses or CMS licenses, and the full English name is Capital Market Servise."

Zhang Yida thought for a while and said: "I remember that it is not easy to apply for this CMS license. It seems that you need to have carried out relevant business in the Singapore capital market for at least 5 years and have a good record."

“Yes, in addition to this, at least one board member or CEO must be resident in Singapore.

In addition, to carry out securities trading or futures contract trading, shareholders’ funds are required to be no less than 200 million Singapore dollars and 100 million Singapore dollars respectively, which is equivalent to 1 billion yuan and 500 million yuan in RMB.”

Ding Siyao remembered the various license application terms very clearly and explained them to Zhang Yida one by one.

"The conditions are so harsh, so there must be no chance of applying, right?" Zhang Yida asked.

"Yes, we can only obtain the license in a curved manner."

Zhang Yida asked: "Acquisition?"

"Yes, we have contacted Barclays Bank, which is interested in selling the wealth and investment management business in Singapore and Hong Kong.

They have an existing Singapore CMS license.

In addition, this part of Barclays' business also includes 1,800 high-net-worth clients in Singapore and Greater China, and a total asset management value of US$18.3 billion."

"1,800 people, 18.3 billion U.S. dollars in assets, and 10 million U.S. dollars in assets per capita. They are really rich."

Ding Siyao smiled and said, "Yes! Compared with domestic customers with an average asset of tens of millions of yuan per capita, these 1,800 people are much richer."

"Why is Barclays selling this part of the business? And, what is their offer price?"

Ding Siyao said: "The explanation given by Barclays is that it will shift its business focus back to countries such as the United Kingdom and the United States, and its business will focus on the banking and investment industries.

As for the quotation, the current quotation is US$400 million, but this quotation is a bit watery and it should not be that much.

Also participating in the bidding are Singapore's United Overseas Bank, DBS Bank, Oversea-Chinese Banking Corporation, Japan's Nomura Securities and several other companies."

"Is this a toxic asset? Don't buy a time bomb and go home."

Ding Siyao chuckled, "That shouldn't happen! We also hire professional consulting firms and accounting firms, and law firms to participate in due diligence and asset handover."

"Okay, so many private banks are participating in the bidding, so it should still have some value."

Zhang Yida sighed, "It's a pity! Looking at the progress, I'm afraid I won't be able to catch up with the listing."

"Should we withdraw the prospectus?"

"No!" Zhang Yida interrupted, "In the early stage, I found a law firm. The accounting firm spent so much money. If I withdraw it, I have to re-do the materials.

Even if it is acquired after listing, it is not a big deal. The big deal is that it will raise less capital!

No matter what, you have to leave some expectations for the majority of stock investors!"

"There are not many individuals who speculate in stocks in the United States, they are basically institutions." Ding Siyao said with a smile.

Zhang Yida said: "Because it is an institution, people can see the problem more comprehensively. If the acquisition can be negotiated before the IPO, I guess it will definitely rise.

Don’t think so much, we can’t all take advantage of all the good things. We need to do a good job on the fundamentals of the business and have good performance in hand. In the future, we can just issue more shares.”

"Okay, you are the boss and listen to you!"

…

Li Quan is a financial planner from Yimin Wealth. Wearing a smart suit today, he came to a villa with two colleagues from the company.

Li Quan rang the doorbell, and after a while, a middle-aged woman dressed richly and full of jewels opened the door.

As soon as the middle-aged woman saw Li Quan, she said with a smile on her face: "It's Xiao Li, please come in, please come in!"

Li Quan smiled at her, "Sister Xie, excuse me! Didn't you say last time that your child was going to study abroad?

We at Yimin Wealth will provide free study abroad and overseas investment consultation for customers with M3 sequence.”

Yimin Wealth internally divides customers with investment amounts of one million, ten million, and one hundred million into three levels: M1, M2, and M3.

Then Li Quan introduced two colleagues around him, one was a study abroad consultant and the other was an overseas investment consultant.

When she heard it was free, Sister Xie's smile grew even brighter and she greeted Li Quan's other two colleagues warmly.

Sister Xie greeted the three of them into the door, asked the servants to serve several large plates of fruit, and said with a smile: "You guys eat some fruit first, and I will go upstairs to call the children."

The study abroad consultant sat on the sofa, looked at the splendidly decorated hall, and asked: "Li Quan, is this really a coal boss? The house is sparkling with gold, just like a palace."

"As expected of an M3 client, he is quite powerful!" Another overseas investment consultant laughed.

"Li Quan, where did you find this client?"

Li Quan replied: "Some time ago, wasn't I sent to the Rolls-Royce 4S store by the company? I met Sister Xie's husband, Boss Mei!"

Looking at the strange looks in his two colleagues' eyes, Li Quan explained: "Plum blossoms are not coal from coal mines! Don't mention coal mines later, they have stopped doing that business a long time ago.

In the past few years, all the coal mines were sold to state-owned enterprises. Boss Mei... took a large sum of cash and moved his family to the capital.

Then take this money and buy dozens of houses!"

Sister Xie took her son downstairs, a boy of seventeen or eighteen with disheveled hair and a thin appearance.

"Hey, Mom, what are you doing? I'm dying at the game!" The boy muttered as he walked away, looking very reluctant.

After going downstairs, Sister Xie introduced: "This is my son Xie Yingjun, you can call him Yingjun."

Li Quan wanted to laugh, but this kid was nothing like handsome!

However, his good professionalism still made him call out without conscience: "Hello, handsome!"

His other two colleagues also stood up and said hello to the boy named Handsome.

"Don't you have a mouth?" Sister Xie looked at her son with a sultry face and said bitterly, "Call me brother!"

"Hello, brother!" Mei Yingjun shouted reluctantly.

Li Quan and his two colleagues didn't care, especially his two colleagues, who often interacted with boys and girls from wealthy families and had long been used to it.

The behavior of these sons is not entirely directed at them, but mainly because they are dissatisfied with their parents.

Of course, they also meet children with good upbringing and decent manners. It mainly depends on the background of their parents and family!

"Youngjun, do you plan to take the college entrance examination or not as a student studying abroad?" the study abroad consultant began to ask.

"I won't take the college entrance examination! If I take the college entrance examination with my grades, my ancestors' graves will be covered in smoke!"

Mei Yingjun said with a smile, without taking any care of his mother who was sitting next to her and her face turned black.

"What nonsense are you talking about?"

Sister Xie prepared to fight, but Mei Yingjun was so frightened that she quickly got up and ran away.

Li Quan and his two colleagues looked at each other and said nothing.

Mei Yingjun, who was "subdued" by his mother, returned to the sofa and sat down. The study abroad consultant continued to ask: "Is there a country you want to visit?"
To be continued...