The capital operation of Sina marvellous the eyeball

The details of Sina's capital-series operation have finally been unveiled.

Over the past year, Sina's series of Marvellous capital operations has earned enough attention from the industry.

After the launch of the "Poison pill" program successfully sniper the big attack, in the capital market quiet more than three years of Sina again shot. In 08, Sina announced that it would merge its digital outdoor advertising business, including its business-related assets such as television, framed advertising and store advertising. And the media will retain its Internet advertising business, theater advertising business and the traditional outdoor advertising business.

Only in the past 10 months, September 28, 2009, Sina's announcement said: The deadline for the merger of Sina and the media, announced last December, will no longer be extended. According to the agreement, the transaction will be terminated automatically if the parties do not complete the delivery before September 30, 2009.

While the public has not digested the blockbuster news of Sina's abandonment, another, more sensational, perfect deal is at the same time. September 28, 2009 is also the 10 anniversary of Chao's accession to Sina. In the afternoon, Chao wrote in his microblog: "Finally, I and management team to increase the shares of Sina 10%, I hope you continue to support us." "A few minutes later, Sina officially announced the deal, will implement management buyout, by absorbing Sina issued more than 5.6 million shares of common stock, so as to make management rise to Sina's largest shareholder." As a result, Sina ended the more than 10-year-long equity diversification, and the occasional disharmony between management and shareholders will come to an end.

At the same time, China's leading real estate integrated services company--Easy to live China is running its joint venture with Sina--China Real Estate Information Group (hereinafter referred to as "Sino-house Letter") IPO. Half a month later, October 16, 2009, the Sino-house letter to the Nasdaq, easy to live in China and Sina listed China real Estate Information Group's largest shareholder and second largest shareholder.

Based on this, Sina CEO and President Cao Chao and the chairman of the Chinese Board of directors and President Zhou Yi, jointly become the 2009 capital markets the brightest star.

After the hustle and bustle of the story, the chief financial officer interviewed Sina CFO Yu Zhengjun, the Chinese CFO Cheng, as well as the CFO Hu, in an attempt to restore the design of the complex and yet delicate capital of the series of the plot to conceal the action skills.

As China's first batch of pioneers to enter the U.S. capital market, Sina in the 2009 continuous strategic-level capital movements demonstrated by the skillful feeling, has been completely a capital operation of the top expert.

"Demolition" to the room letter

October 16, 2009, the Sino-house letter to the Nasdaq, the stock code CRIC, the issue price per share of 12 U.S. dollars, a total of the United States Depository Shares (ADS) 18 million shares, the IPO amounted to about 216 million U.S. dollars. In accordance with the proportion of 51% and 33% of the share, Yi Ju and Sina earn a pot full.

This listing eight months ago has been a concern, not only because it is the third case of the Internet industry, but also for two companies.

For Sina, in the three major portal sites, Sina business has been relatively single, the Sino-house letter listing is Sina after the development of a touchstone. The CRIC is the third joint venture in the history of Sina, after Sina has worked with Yahoo to beat the net, as well as with South Korea N Csoft Company Group Sina Lok Gu game company, all insipid end. If this success, Sina will further consolidate its market position in China's real estate network advertising market, and expand its media influence. At the same time, Sina Real Estate network business in-depth expansion will also be further developed, the joint venture listing will become its vertical field of development of a successful "sample."

When Zhou Yi decided at the end of 2001 to do a system of real estate information--gram-Rui information System, and in 2002, when a large amount of money, even the internal also has a different voice, "before the product went public, many executives questioned why to do a lost system." At present, the system has become China's largest real estate information integration platform, covering 56 cities nationwide, in the domestic real estate information service market, grams and Rui accounted for about 40.8% of the share. In the domestic real estate hundred more than 70 companies are applying gram and Rui. After Zhou Yi China's 2007 landing in the NYSE, it took two years to realize his vision of a Chinese-room letter that would create China's first-listed property technology in the US.

May 13, 2010, the letter released the first quarter of 2010 earnings, the data show the company's revenue of 27.2 million U.S. dollars, an increase of 123%; net profit of 10.3 million U.S. dollars, up 119% year-on-year. This performance makes easy to reside China and Sina two big shareholder are very satisfied. In view of the concept of real estate science and technology, although the real estate policy is very strong, the real estate industry is affected, but the Sino-house letter has not been affected. In the room letter CFO Hu said, the more the environment is bad, developers need more data and consultation.

As early as 2006 to prepare for easy to live in China, easy to live in the interior there will be grams and Switzerland independent listing ideas. "The timing was premature. The first reason is that the Kerry system has not been profitable before, and secondly, we want to ensure that the core competitiveness of China, so that investors can better understand the habitat-not just intermediary companies, but also knowledge, technology and services. According to Cheng, there were already some investors asking if Rick would be listed separately. "This group of investors has been concerned about this part of the business, so the listing of the Sino-house letter is expected to some investors." ”

After the listing, the funds used to focus on the development of this part of the business developers. In 2009, as revenue from information services increased sharply, the listing of Grams and UBS was again on the agenda. "We want to fully reflect the value of being buried," he said. ”

Cheng admits that although the strategic direction has been set, but the adoption of the model and Sina joint venture, did not think before.

As the novelist says, Chao is indeed in the occasional, the middle of the go-between is Shen. April 2007 Shen introduced Zhou Yi and Cao Chao understanding, recommended Cao Chao as an independent director of Yi Ju. As a result of Cheng's previous work experience in SouFun, he spoke about the 2006 Australian Telecom's 254 million dollar acquisition of the SouFun 51% equity deal. So everyone agreed that the home can also use the grams and Swiss database and the national network to help Sina's real estate business expansion. Sina live in the domestic real estate network media long-term in the top three position. "We had a combination of the business and the Internet, but there was no specific direction," he said. ”

A year later, April 2008 grams and Sina jointly set up a joint venture-Sina le Habitat, by Sina Holdings. Sina Le Habitat is mainly responsible for operating Sina real estate and home channels, easy to live in China through its own grams and Rui information system, for the joint venture to provide professional real estate information data and related network products. The two sides began to establish a formal cooperation platform from the joint venture company.

"The original and Sina joint venture habitat, but also hope that the overall big music, will also be listed in the future, but the Kerry representative of the data services will be split out of the listing is also in the planning, but the combination of the two again listing is in 2009 years to think of. "In fact, until May 20, 2009, when the Kerry listing has officially started, Sina and easy to live has not officially signed the agreement."