Chapter 550: Waiting for Bao Hwa
Translator: Lonelytree Editor: Millman97
Bao Hwa's reputation that they'd gained earlier disappeared once more. In fact, the damage was even bigger this time.
Xi Empire doubled their purchase every time while Bao Hwa only matched the price. The comparison was unflattering for Bao Hwa.
Regardless, everyone waited with bated breath to see whether Bao Hwa would continue this contest. The only people who were saddened by this were those who let go of their shares too early.
Why couldn't they have been more patient? They had lost so much!
Those still possessing Bao Hwa and Xi Empire's stock held onto them like dear life, who knew whether the price would still increase or not?
At least those having Xi Empire's stock didn't dare to sell them so easily anymore, because they were waiting for Bao Hwa to approach them with a higher price. On the other hand, some with Bao Hwa's stock were willing to sell, because they were afraid this was going to be the highest offer. They were afraid they would end up with nothing because of greed.
However, greed was part of human nature
So many were waiting with the question, Bao Hwa, when are you going to increase your price to purchase Xi Empire's stocks?
Xinghe and the rest too were waiting for Bao Hwa's next move. Xia Zhi had been following the contest for the past few days; he was like a happy baby, completely entertained.
"This time they must be dumbfounded. We went for five times the price; they must be pooping their pants now!"
Even Ali's group followed the development closely alongside the rest of the country.
Sam smiled wickedly. "I'm sure they won't dare to continue this anymore. Five times the market price is not a small number. They will go bankrupt if they continue this fiasco."
"Xinghe, do you think they will follow up?" Ali asked.
Xinghe nodded. "They will."
The room was shocked. Xia Zhi didn't believe it. "That's unreal, where will they get the assets to do that?"
Bao Hwa might have been rich, but Xi Empire's stock price was the highest it had ever been. Five times the price was a scary number. The total of the smaller shareholders that were willing to sell was tens of billions.
For the argument's sake, let's put the price at twenty billion, if Bao Hwa wanted to buy them all, they had to produce at least one hundred billion!
Such an amount would definitely make Bao Hwa end up in heavy debt.
Xinghe smiled. "Raising the price doesn't mean that they will buy."
Cairn understood immediately. "They just want the PR, if someone really approaches them to sell, they will come up with all sorts of reasons to stall."
"Naturally, not only that, the purpose they're doing this is to suppress Xi Empire, to create the mirage that Xi Empire was on its way down," Xinghe elaborated.
"Then we can do the same thing!" Xia Zhi smiled smugly. "We will also raise the price but not buy."
"That's right, we too can do the same thing." Ali nodded in agreement.
Xinghe shook her head. "But I'm really going to buy some."
The room was lost. "Sis, why would you want to buy their stocks? That Lin Jing had in her hands thirty percent of the stocks, even after so long, we've only managed to get 5 percent, we will not surpass her," Xia Zhi pointed out.
"Xinghe, you really want to buy all their stocks at such an elevated price?" Sam frowned and said, "The trade-off is not worth it."
Xinghe shook her head. "I'm not buying all of them, only another five percent."
Xinghe smiled. "You'll know soon enough."
Fine, they didn't know anything about business, so they chose to believe her. She must have her own reasons.