理性讨论聚美私有化这件事

陈达美股投资2020-01-12

来源：雪球App，作者：陈达美股投资，（https://xueqiu.com/9598793634/139187124）$聚美优品(JMEI)$聚美优品理性地来谈论一下聚美私有化这个事情，简单分析一下，就会明白这其实是个多输的局面，而且影响或许会非常深远1. 陈欧看似马上要得手了，22块IPO，2块私有化，这部分融资就割了20块，然后2块又买到了或许值个5、6块的资产。这样看陈欧与私有化买房团是...

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复利的力量
2020-01-13
复利的力量
人品太差！期全家，期陈期欧！！！！
剑桥奶茶大战明州强东
2020-01-13
剑桥奶茶大战明州强东
私有化价格是20

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短期利益如此，长期利益呢。陈欧就算得逞，基本上也就告别资本圈了，回国上市？会买你股票那是鬼了。就像陈一舟一样，在美国爬爬山读读书喝喝酒发发圈（别问我怎么知道的，我有他微信）。但陈一舟老了啊要退休享受生活了，陈欧你才几岁，就不要羽毛了，就把自己变成了一只白斩鸡，信誉扫地，没有人会信你了，职业生涯基本bye bye，为了钱，何必呢3. 问题是，你也没有那么容易私有化，我仓位小（这种公司不敢多投），其他仓位大的大股东，并不一定直接就范。大家要维权还是有途径的，除了找媒体骂他，本来开曼或百慕大注册公司私有化“数人头”的投票规则上市公司若透过协议安排形式私有化，除必须获75%或以上股权通过，以及不多于10%或以上股权反对外，更需要通过俗称“数人头”的机制，即需获得过半数出席的股东人数赞成。这是可行的方法，但是费用很高，要转成普通股才有投票权，有些券商能转。就如此你至少还有机会否掉私有化提议。或者最后开曼打官司，用小股东的集体诉讼耗它，如果最后私有化没成功，那陈欧就要彻底懵逼了这种诉讼纠纷拖起你来，旷日持久，陈欧也是会很烦的，现在微博还不敢开放评论，微博大V也做不成了，人设崩塌，何必4. 前3算是陈欧的，其实无所谓，我并不关心他这个人。第四点是我最想要重点提的，就是这个事件的外部性，也就是陈欧的做法虽然可能给其个体带来巨大收益，但是对整个在美国上市或者将去美国上市的公司，这笔损失一定是巨大的。首先，除了阿里、京东这样的大公司，你跟聚美同等规模、投票权又集中在管理层的中概公司，首先会被市场打一个折扣（类似于之前中概集体造假，于是就经历了一波集体熊市，很多公司被误伤），所以现在一些公司股东会被陈欧的外部性给溅到。再次，未来去美国上市融资的公司，多谢陈欧，你们的规模或者公司治理类似聚美的话，你们在美国融资就变得太南了在一个没有批量低价私有化的市场时机时，选择做了这件千夫所指的“一个人孤独的事”，不说陈欧其实在长远来看很可能也是输家，但至少对中国公司，又是一次颜面尽失，斯文扫地。契约精神、勤勉责任，我不说这些西方法治的大词，哪怕是儒家的忠义两字，也丢了个彻底奉劝各位中概高管，在短期利益与长期利益发生冲突的时候，永远选择长期利益@管我财 @Ricky 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