Author | Zheng Xiaojie Edited by | Yuan Chang, original title "Tens of billions of quantitative "equity door" ending "upset", Yuan Yu comprehensively "recovered" the controlling right, Li Shuo returned to minority shareholders"
An equity drama suddenly occurred and came to an abrupt end.
The dispute over the "equity gate" of Mingshi fell hammer, and Yuan Yu obtained the status of major shareholder.
The inquiry of the capital hall found that the equity ratio of Shanghai Mingshi Investment had changed a few days ago, Shanghai Songmeng was changed to a major shareholder holding 85% of the shares, and the legal representative was changed to Yuan Yu.
After penetrating the equity, Yuan Yu nominally controlled more than 61% of the shares of Mingshi Investment.
Mingshi Investment is a quantitative private placement of stocks, with a entrusted scale of more than 10 billion yuan. As of the end of the third quarter, the revenue of Mingshi's products ranked first in the quantitative private placement of 10 billion yuan during the year.
A week ago, yuan Yu, the core figure of the private equity, took the initiative to "expose" the control dispute, and triggered a counterattack by another executive, Li Shuo, and the two sides then "threw away the material to lead the war".
The dispute then made the nominee shareholding agreement public, and today's industrial and commercial agreement is basically the same as the original nominee agreement.
01 Yuan Yu acquires a controlling stake
According to the industrial and commercial change data, the current largest shareholder is changed to Shanghai Songmeng Investment Co., Ltd., and the previous major shareholder was Li Shuo, who was the person in charge of the Mingshi investment market system and another protagonist of the dispute.
According to the data, Li Shuo and Yuan Yu co-founded Mingshi Investment in 2010, and the two are middle school classmates. Yuan Yu is in charge of the strategic technology department.
At present, the equity structure of Mingshi Investment is 85% held by Shanghai Songmeng (the shareholder after the penetration is An insider of Mingshi), and two external shareholders, Wang Yang and Zhou Sheng, who together hold 15% of the shares.
The result of the change of equity is basically consistent with yuan Yu's statement when he first broke the news.
At that time, Yuan Yu claimed that Shanghai Songmeng Investment, which he controlled, held 50% and 35% of the total 85% equity of Mingshi, and he was the real actual controller of Mingshi. Li Shuo's 50% stake in Mingshi is entrusted by Songmeng to hold on his behalf.
After the change of industry and commerce, Yuan Yu currently holds 72.5% of the shares of Shanghai Songmeng, Li Shuo is 10%, and Wang Xiaohan holds 7.5%.
Shanghai Songmeng is equivalent to the shareholding platform of Mingshi Investment insiders.
Among them, Wang Xiaohan is the fund manager identified by Mingshi when it issued products to the outside world, and he is also the earliest founding partner.
02 Replay the battle for control of the Ringstone
On the morning of October 13, a screenshot of a conversation circulated: Yuan Yu expressed "shock" at Li Shuo's announcement of his dismissal, saying that the move could trigger a "key person clause" and cause investors to redeem a huge amount.
On the evening of October 13, the official public account of Mingshi Investment released relevant "instructions", which pushed the matter to a climax. It pointed out that it was confirmed that the position of head of Yuan Yu's strategic technology department had been suspended, and stressed that Mingshi Investment has been controlled by Li Shuo, a single major shareholder holding more than 50% of the shares since its establishment, and the equity structure is stable and clear, and has never changed.
Late on the night of October 13, Yuan Yu issued a "Letter to All Employees", exposing the details of his and Li Shuo's equity holdings, and the China Foundation Association explicitly prohibited the holding of private equity controllers.
In the early morning of October 15, Mingshi Investment issued a statement signed by Li Shuo and Yuan Yu, in which the two sides promised to "actively handle differences" and would announce the results of the consultations to all parties on October 18. At the same time, some of Narushi's products in the closed period are arranged to be urgently opened for "redemption" for investors to make their own decisions.
In the early morning of October 18, Mingshi Investment stated that Yuan Yu and Li Shuo had resolved their differences, the company's equity was clearly determined, and it would immediately go through the industrial and commercial registration procedures.
It can be seen that in the process of this control struggle, the question of who is the "private equity core" has been touched.
Before the equity change, the official side of Narushi Investment released information that the institution had been downplaying the influence of the core figures of the investment, and that Narushi's quantitative investment was collectively driven by the team. Yuan Yu previously believed that terminating his position as the head of the strategy group was a violation of the "key person clause" and would result in redemption by investors.
Throughout the process of the stalemate between the two sides, the issue of nominee shareholding was also thrown out, and there was a "suicide" revelation.
But in the end, the whole incident quickly calmed down.
03 Channels promote open redemption
After the continuous fermentation of Narushi investment, many sales agencies are also actively taking action.
In addition to negotiating with Narushi Investment to suspend product subscriptions, some of Naruto's products that are still in the closed period have also launched an emergency open redemption mechanism to provide existing investors with the opportunity to exit.
Previously, before the departure of the core fund managers of some private equity institutions, there were similar arrangements for the early opening and redemption of closed-end products.
Information from the channel shows that the redemption does not mean that the "key person clause" is triggered, nor does it mean that the contract has changed, but only a one-time redemption arrangement corresponding to the current state of affairs.
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