Shockingly, a counterfeit factory has produced a 3-nanometer chip.

Chapter 255 Continuing to Empty Out America

But Shen Fei remained absolutely certain, his tone still one of confidence.

"Wall Street doesn't recognize the story of Africa, but the Hong Kong Stock Exchange does."

Chinese investors understand emerging markets, technology companies, and these business models.

Van Dijk smiled slightly, his face clearly showing disbelief.

How much of AfriLink's valuation is inflated? Does this former major shareholder not know? Listing in Hong Kong, with a valuation that was originally $120 billion reduced to HK$100 billion, is already incredibly good news.

They're all in the same boat right now, so we definitely can't say that.

"But the liquidity of the Hong Kong Stock Exchange is not as good as that of the US stock market."

"Liquidity can be created." Shen Fei looked at him. "AfriLink is not an ordinary African company. It is the largest social platform in Africa, and it has already begun to venture into the mobile payment market and the e-commerce market."

This story isn't about $120 billion; it starts at $200 billion.

Van Dijk stared at him for a long time, and was also intimidated. It was under such pressure that he was forced to agree to a valuation of tens of billions.

"Mr. Shen, you are very confident."

"It's not that I'm confident, it's that I've done the math." Shen Fei pushed the documents he had prepared in front of him over, his face clearly saying, "I'm not lying to you."

"AfriLink's user base has exceeded 2.8 million, which rounds up to 3 million."

The ARPU per user per year is currently less than $4.

But this figure can reach $10 within three years. At that time, revenue will be $28 billion, and profit will be around $10 billion.

With a PE ratio of 20, the market capitalization is approximately $200 billion.

"Mr. Shen, we are already the major shareholder, so you don't need to use these kinds of rhetoric on me."

Van Dijk also looked resigned to his fate at this point.

No, I'm not lying to you. Wait until I finish.

AfriLink's value lies not in its financial figures.

The main asset is the users—2.8 million African users, representing the largest digital asset on the continent.

Those people on Wall Street are deliberately pretending not to understand, but the Chinese understand.

After listening, Van Dijk finally understood what Shen Fei meant. Since the US was pretending to be deaf and dumb, and China was an emerging market, everyone was looking forward to it.

Perhaps we could take advantage of that, and Van Dijk's expression changed instantly.

"Okay, I agree."

The two then shook hands, both sporting a mischievous grin.

…………

When news broke that Van Dijk was also preparing for a Hong Kong stock listing, James Diamond, president of Bank of America's investment banking division, was in London for a meeting.

His expression changed drastically upon hearing the news that AfriLink was going to be listed on the Hong Kong Stock Exchange.

"Have Van Dijk and Transsion gone mad? Will the Hong Kong Stock Exchange recognize such emerging companies? And can the Hong Kong Stock Exchange offer us such a price for underwriting fees?"

The assistant beside him whispered, "James, it's not about the underwriting fee. They're not happy with the valuation."

James Diamond immediately understood their plan.

Shen Fei wanted to use this tactic to make them accept reality, even though they, as the capitalists, could resist.

Unfortunately, AfriLink has very few shareholders, besides Naspers represented by Van Dijk and Transsion. As for the founding team, they have already been misled by Van Dijk.

So he had no choice but to go.

After all, this IPO is just the beginning. In the future, all of Transsion's core companies will go public, and each company can bring more than $10 billion in profits to Wall Street.

This is a significant business deal.

…………

The following day, James Diamond's private jet landed at Shenzhen Bao'an International Airport.

As expected, he saw many familiar faces here.

On the surface, they all said they were going to the hotel to rest, but in reality, they all went to Transsion headquarters as soon as possible.

James Diamond arrived first, but just as he was about to begin discussions, Shen Fei said there was no rush and to wait a moment.

James Diamond panicked and quickly said, "Mr. Shen, the valuation is negotiable."

Shen Fei remained silent and waited quietly.

"80 billion US dollars is a very high valuation given the dot-com bubble in the United States."

Shen Fei glanced at the time and then smiled.

"Mr. Diamond, do you know what valuation Van Dijk used to acquire the shares?"

James Diamond was well aware that Van Dijk had become a laughingstock at the time. And those companies that helped Transsion acquire businesses in order to get on board were also treated as a joke.

But now it seems... those people were the right choice.

What does the loss of American assets have to do with them?

I was just helping out, but I got real money in return. I wonder when there will be another event like this.

"They acquired it at a valuation of 100 billion, a 40% stake, which is about 40 billion US dollars."

With the cooperation of many parties, the number of registered users has not only exceeded 100 million, but has reached 280 million.

What are you doing, sitting in your New York office, looking at reports and saying Africa is very risky?

"Mr. Diamond, I don't need your $80 billion. You can withdraw."

We'll find other investment banks to act as underwriters. If you're not willing to get involved this time, you'll regret it.

Just as James Diamond was about to reply, a voice came from the doorway:

"Diamond, you're still so stingy. When are you going to change this habit?"

We at Morgan Stanley have agreed to the $120 billion IPO, and I can guarantee a 20% surge in value after the IPO, pushing it to over $200 billion within a month.

As for what happens next... I believe that by then AfriLink and Transsion will have nothing to do with each other anymore, right?

The JPMorgan Chase manager walked out with a smile.

"Pros, who's stingy? We can guarantee it within three days..." James Diamond said excitedly.

They promised to work together, but now they're all sabotaging each other.

"With a listing price of 120 billion, you can acquire 13.2% of Transsion's shares within a week of the listing, and we will leave none for ourselves."

Do you agree to this deal?

Diamond and Prosper exchanged a glance; the deal was indeed very attractive.

The transaction period is not a problem at all, since Transsion has always focused on a good reputation in the industry.

In the past, after acquiring a company, the buyer would simply hand over shares or cash. Sometimes, it was even possible to pay in advance and receive the goods later.

There is absolutely no risk this time.

Shen Fei extended his hand: "Do you agree to this plan? Can we make a deal?"

The two families looked at the hand, then reached out and shook it.

"Deal, we want 3%..."

"How much do you want? You guys can divide it among yourselves. Just to make one thing clear, I don't want cash, I only want the technology, the right technology."

"President Shen, this isn't a financial crisis, and what you did last time went too far. Now you've already..."

That's your business.

…………

Three days later, AfriLink officially announced that it would be listed on the Nasdaq main board.

The sponsors are Goldman Sachs and Morgan Stanley, and the underwriting syndicate includes 12 investment banks such as Bank of America, Citigroup, and HSBC.

The company is valued at $120 billion and has raised $20 billion.

This will be the largest IPO in African corporate history.