New progress has been made in the transfer of 16.675% equity of Wells Fargo fund.
On May 20, Shandong International Trust announced that its affiliated company Shandong Financial Asset Management Co., Ltd. (hereinafter referred to as “Shandong financial assets”) became the new shareholder of Wells Fargo fund. According to the results of public listing, the total consideration is expected to be RMB 5038.8 million.
Shandong financial assets takeover
According to relevant data, as of November 30, 2021, Wells Fargo fund had four major shareholders, among which Haitong Securities Company Limited(600837) , Bank of Montreal of Canada and Shenwan Hongyuan Group Co.Ltd(000166) securities all held 27.775%, and Shandong Guoxin held 16.675%.
It is worth mentioning that in the column of whether the old shareholders give up the exercise of preemptive right, it is shown as “not giving up”. In other words, before the equity transfer results come out, the top three shareholders are likely to become the largest shareholder of Wells Fargo fund. Different from the rumors in the industry that Haitong Securities Company Limited(600837) took over the Transferred Equity, this time, Shandong trust brothers became the new shareholder of Wells Fargo fund.
Statistics show that Shandong financial assets is a non wholly-owned subsidiary of Shandong Luxin Investment Holding Group Co., Ltd., the controlling shareholder of Shandong International Trust.
Previously, the listing price of 16.675% of the equity of Wells Fargo fund was about 4 billion yuan. Now the dust has settled. According to the results of public listing, the total consideration is expected to be 5.038 billion yuanP align = “center” source: Shandong International Trust announcement
premium rate up to 350%
According to the financial data, as of November 30, 2021, the total assets of Wells Fargo fund were about 11.7 billion yuan and the owner’s equity was about 6.67 billion yuan. Revenue data show that the operating revenue is about 7.289 billion yuan and the net profit is about 2.189 billion yuan.
Previously, the listing price corresponding to the 16.675% equity of Wells Fargo fund was 4.039 billion yuan. According to the evaluation of Shandong financial assets trading center Co., Ltd. on November 30 last year, the book value of all equity of Wells Fargo fund is 6.674 billion yuan. According to the listing price of 4.039 billion yuan, the total valuation of Wells Fargo fund is 24.222 billion yuan, with a premium rate of more than 260%.
Today, the corresponding valuation of 16.675% equity is 5.038.8 billion yuan, which means that the total valuation of Wells Fargo fund is 30.018 billion yuan, with a premium rate of 353%.
The latest non monetary scale data of fund companies in the first quarter of this year released by China Fund Industry Association shows that the average monthly scale of non monetary financial management of Wells Fargo fund exceeded 600 billion yuan for the first time, ranking fourth in the industry with 616851 billion yuan, second only to e fund, Huaxia and GF.
