Chapter 421 The Much-Anticipated Bell Ringing Ceremony and Opening Price

On Tuesday, August 6, 1996, Li Xiaofan led the management team, board of directors and investor representatives of Pacific Network Technology Company to fly from Singapore to New York, USA, to prepare for the bell-ringing ceremony to be held in Times Square the day after tomorrow.

On the afternoon of August 7, the next day, Li Xiaofan met Academician Ni and Yang Feiyan who flew over from Shanghai to New York.

Li Xiaofan arranged for them to stay at the Waldorf Astoria Hotel that they had booked before.

On the morning of Thursday, August 8, local time in the United States, the NASDAQ exchange in Times Square, New York.

Li Xiaofan brought his real girlfriend Tang Xinyi, company vice presidents Liu Yanping and Dr. Pan Zhanlong, board representatives: Tim Draper, founder of DFJ Venture Capital, and investors such as Zheng Yingjie of Singapore GIC Special Investment Company, Hui Ge and Ming Ge. Representatives, as well as the temporarily invited guests such as Academician Ni and Yang Feiyan, as well as the general underwriter Morgan Stanley, all gathered in this Feng Shui treasure place with joy.

For Li Xiaofan now, this is the second time since his rebirth that he has participated in the bell-ringing ceremony for the listing of a company he invested in on the NASDAQ exchange.

However, this time the meaning is different.

Now this Pacific Network Technology Company is an Internet project created by itself. It is like my own child, which has been carefully nurtured since birth. Today it has finally grown up and will be officially listed on the NASDAQ market in the United States to start trading.

The excitement in his heart is unparalleled!

Before going on stage, "Dear, why do you feel your hands are shaking again! You must be very excited now, right?" Tang Xinyi, who was wearing an elegant purple dress, held Li Xiaofan's hand and said softly.

"Well, that's true!"

Her other eldest brother Tang Jiaming was also dressed in formal clothes today, with a beaming face. After hearing this, he smiled and said:

"Silly girl, Afan must be excited, and I would also be trembling with excitement. Such a highly anticipated moment! Our Pacific Network is now reported by outside media as the number one Asian network listed on Wall Street. I’m very excited now, and I don’t know what the price will be.”

At present, after Pacific Network Technology Company issued 25% of new shares, Singapore Yifan No. 1 Venture Capital Fund holds 7.5% of the shares, holding 150 shares out of the total share capital of 20 million shares.

Singapore Minghua Holdings, as the LP of Singapore Yifan No. 1 Venture Capital Fund, holds a 10% share, so it is equivalent to indirectly holding 150,000 shares of Pacific Network Technology Company.

Subsequently, at the invitation of the host and amid the applause of the crowd, Li Xiaofan, chairman and president of Singapore Pacific Network Technology Co., Ltd., came to the stage with excitement and gave a brief speech.

At 9:28 a.m. Eastern Time, Li Xiaofan, Liu Yanping, Pan Zhanlong, Tim Draper, Zheng Yingjie, Hui Ge and others took the stage to ring the bell.

At this time, the background music of the bell ringing of the NASDAQ exchange was already ringing cheerfully.

In the Nasdaq demonstration hall, employee representatives from Pacific Network Technology Company, customer representatives, investment institution representatives, and special guests like Tang Xinyi and Yang Feiyan all stood up and applauded and began to count down the seconds.

"6, 5, 4, 3..."

With the arrival of the official trading time of the Nasdaq market at 9:30, a bright and grand bell rang in the demonstration hall of the Nasdaq Exchange.

Then, amid the cheers from a group of guests including employee representatives in the audience, Li Xiaofan turned his head and saw the opening price of Pacific Network Technology's stock on the big screen:

“Pacific Network Inc. (NASDAQ:PACN) 36.12 $”

Pacific Network Technology's opening price was US$36.12, which was 180% higher than the issue price of US$20!

The current U.S. stock market is in a bull market. The previous listings of Internet technology stocks such as Netscape and Yahoo have been subject to speculation. Yahoo's stock price has exceeded 100 US dollars.

The most excited person on the stage was Brother Hui. He shouted: "Oh man, let me calculate, my God, it's more than 10 million US dollars, fifty times!!!"

Hui Ge's Malaysian Glory Company currently holds 1.5% of Pacific Network Technology Company, holding 300,000 shares out of a total share capital of 20 million shares. According to the current opening price, the market value is US$10.836 million. Brother Hui’s initial investment was US$200,000, which has increased more than 50 times!

Brother Ming in the audience was also very excited after seeing the opening price. He also held a calculator in his hand, waved it and said loudly to Tang Xinyi beside him:

"1.5 million shares, multiplied by US$36.12, haha, US$54.18 million, five times! The US$10 million invested by Singapore Yifan No. 1 Venture Capital Fund, which we invested in, increased an astonishing five times in just a few months!!! "

Tang Xinyi smiled and said: "Brother, please help Affan do the math. How much is he worth now?"

"Okay. The Singapore Yifan Holdings Pte. Ltd. controlled by the two of you holds 30% of the shares, which is 6 million shares. I did the math, 6 million times 3.612 equals 216 million US dollars. And Affan passed Yifan No. 1 The total amount of Pacific Internet stocks controlled by venture capital funds and other means is close to US$300 million..."

Later, Brother Ming exclaimed: "Xinyi, plus the 2.65 million Yahoo shares currently held by Yifan Holdings, my God, the total is more than 500 million U.S. dollars! Afan's net worth has exceeded that of our family! "

At this time, the stock price of Pacific Network Technology Company displayed on the big screen opened high, and continued to rise under the influx of a large number of buying orders. After a while, it broke through the 40 US dollar mark!

After seeing this stock price, Tim Draper, the founder of DFJ Ventures, came over excitedly and hugged Li Xiaofan:

"Li, congratulations! Thank you!"

Zheng Yingjie, investment director of Singapore GIC Special Investment Company, also came over excitedly to shake hands and congratulate:

"Mr. Li, congratulations, today our Pacific Network's opening stock price performance is great, it can be called perfect!"

Singapore GIC Special Investment Company and DFJ Ventures currently hold 7.5% of Pacific Network Technology Company, each holding 1.5 million shares of Pacific Network Technology Company.

After the current stock price broke through 40 US dollars, the market value of the stocks held by both of them exceeded 60 million US dollars. According to the current stock price, it is a full 6 times return for DFJ Ventures. And Singapore GIC Special Investment Company also achieved a high return of 3 times in a short period of time!

There were also executive representatives sent by Malaysia's Genting Group and Singapore's Hong Leong Group, who also witnessed this miraculous moment on the scene!

Malaysia's Genting Group and Singapore's Hong Leong Group are the two largest LP partners of Singapore's Yifan No. 1 Venture Capital Fund, each contributing 20 million US dollars.

After seeing that the stock price of Pacific Network Technology Co., Ltd. broke through 40 US dollars, the two executive representatives immediately called the bosses Lim Kok Thay and Kuok Leng Yu in Singapore with their mobile phones to report to them the amazing performance of the stock price of Pacific Network Technology Co., Ltd. after the opening.

Then the two executives raised their mobile phones one after another and found Li Xiaofan on the stage:

"Mr. Li, our boss Mr. Lin wants to say a few words to you!"

"Mr. Li, our boss Mr. Guo also wants to say a few words to you!"

Both Lim Kok Thay and Kuok Leng Yu congratulated Li Xiaofan on the phone, and thanked Li Xiaofan for giving them the opportunity to participate in the investment in Singapore's Yifan No. 1 Venture Capital Fund, become partners, and share the fruits of investment victory together.

Li Xiaofan smiled and said to them on the phone: "Mr. Lin, Mr. Guo, thank you! After the six-month lock-up period, if the stock price of our Pacific Network Technology Company can break through $66, then all your investments in Yifan No. 1 Venture Fund can be fully recovered in the Pacific Network Technology project!"