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Chapter 19 : FaceNote IPO (2)
Chapter 19: FaceNote IPO (2)
『 TL – Marctempest 』 『 ED – Laplace 』
He quickly scrolled through the messages to grasp the situation.
FaceNote’s stock price had crashed, and in the process, Cha Eunchae and Seoseong Securities had ended up on the chopping block.
Among them all, the messages that occupied an overwhelming share were Han Juhyeong’s.
Ѐ ñŭm̀ а. id̄
[Han Juhyeong: You said FaceNote was a sure thing. Ha…… I put money in just listening to Cha Eunchae…… and it’s already down 40 percent. What the hell am I supposed to do?]
[Han Minhyeok: How much did you put in?]
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[Han Juhyeong: Fuck, don’t ask. Why isn’t Cha Eunchae answering? Did she go into hiding?]
Han Juhyeong had also sent him private messages.
[Han Juhyeong: Lee Jaseong, do you know where Cha Eunchae is?]
[Han Juhyeong: Try picking up the phone.]
Е.ñ u_m̆а.id
[Han Juhyeong: Hey, can this be consulting too……?]
There had been five missed calls as well.
The last call attempt had been just ten minutes ago.
And then, sure enough…….
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“Lee Jaseong! Why the hell can’t I reach you!”
……he had even come in person.
Ѐn̈.u ḿ а̊ .і̃ d
He frowned.
The stench of alcohol and cigarettes—two things he despised—mixed together and wafted through the air.
“If you drank, go home and fucking sleep.”
“Do you think I can sleep? It’s ten billion won! Ten billion vanished overnight!”
Why this bastard, after losing ten billion himself, had to come to someone else’s office and make a scene.
Still, he seemed to know the full story of the FaceNote incident well, so he decided to hear him out.
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“Ha, damn it…… ten billion…….”
Han Juhyeong spat out curses and sprawled across the lounge sofa.
He cranked the air purifier up to maximum and sat down across from him.
Today, a memory from just before entering the future surfaced.
2 a.m., a call from Han Juhyeong.
When he had called after finishing a company dinner, Cha Eunchae’s voice had been audible beside him.
Еň ǔm̄а̂
“You said you had dinner after finishing the Yuseong Steel acquisition. What did you talk about with Cha Eunchae then?”
“She asked. What the Yuseong Steel acquisition had to do with you. So I told her. That you helped. That it succeeded thanks to your consulting. And after that…….”
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It was already what he had expected.
Cha Eunchae had tried to extract information, and a drunken Han Juhyeong must have spilled it.
What came next was important.
“And then?”
E̊ n̄ um а̀ . ĭd̀
“And then she talked me into investing in FaceNote. She said it’d be a jackpot once it went public. That it’d rise at least 50 percent. She said she had a special fund she made herself, and if I invested in it, she’d make me a lot of money.”
The FaceNote IPO proceeded as follows.
First, a global investment bank became the lead underwriter.
After that, IPO shares were allocated to underwriting syndicates in each region.
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In Korea, Seoseong Securities underwrote the shares and decided to sell them to investors.
Cha Eunchae, who ran a private equity fund, did not miss this opportunity.
Ѐnu m̈ а̇
She swiftly created a new fund dedicated to investing in FaceNote and mobilized all her connections to raise capital.
‘Ah, come to think of it.’
Suddenly, one memory that his future ‘self’ had possessed came back to him.
‘Cha Eunchae had sent me an email too.’
Retracing his memory, he checked old emails he had received. After searching for a while, he found it in the trash.
The FaceNote IPO is the largest technology stock listing in history, and we project a minimum increase of 50–70% over the offering price within 12 months after listing……(omitted).
Dilarang mengopy novel dari Enuma.id.
“A minimum 50 percent increase over the offering price, huh…….”
“Fifty percent increase? It’s minus fifty percent right now!”
Han Juhyeong, who had been lying down, sprang up, pressed hard against his temples as if the heat were surging, and then let out a deep sigh.
“So how much did you invest?”
“Twenty billion. I was in a good mood after succeeding with the Yuseong Steel acquisition, and I wanted an even bigger success. But this…… it got cut exactly in half in just three months. If the old man finds out, I’m really dead. I guess I should hide the golf clubs, right?”
“You fucking idiot.”
Énùm̈ а
“……Hey.”
Every time he thought about it, this guy managed to surprise him daily with new levels of pathetic behavior.
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“FaceNote is a company with solid fundamentals. A user base of one billion, a monopolistic market position, and growing advertising revenue. It’s a long-term investment looking at three years or more anyway, so it’ll recover.”
“So you’re saying my money has to be tied up that whole time. If twenty billion is buried for three years, do you know how big the opportunity cost is?”
“Think of it as an idiot's tax.”
“This bastard…….”
Ё ṅ ú mӑ
Ignoring Han Juhyeong’s grumbling, he checked the recent stock price movement.
FaceNote’s stock had moved in the exact opposite direction of market expectations.
From the first day of listing, a major piece of bad news had exploded, and after that it had done nothing but slide downhill.
Then, in just three months, it achieved the miraculous feat of cutting the offering price in half.
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The chart, drawing a series of bearish candles, was beautiful.
“Looks like a lot of people got burned.”
Ènū ṁ ӓ. і̄ d̂
“Yeah. I lost ten billion, Cha Eunchae got properly stuck too, and Seoseong Securities, which participated as part of the underwriting syndicate, got wrecked.”
“Really?”
“……But you look like you’re enjoying this?”
“Of course.”
“What?”
Consultants loved crises.
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When things were calm, no one looked for consultants.
But when a crisis hit, everyone screamed.
Asking which direction they had to go to survive.
Presenting that path was precisely the consultant’s role.
So how could he not be pleased?
The family office had just officially opened as well, and it was about time to start recruiting more clients.
Wе b ň о̀_v̌ e l̀ Е n_u mа̇
He habitually looked for a ball, then realized this was the future. Clasping his inexplicably empty hands together, he asked Han Juhyeong,
“Want me to help you make it back?”
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At those words, Han Juhyeong’s eyes sharpened.
“Really? Can you help me make it back?”
“Yeah.”
Of course, in reality.
W ѐb̃ń о v̄e l̊ Еñ um ӑ
‘Where should I start?’
First, he had to identify the reason the stock price had fallen.
Whether it was simple poor performance, a market-wide correction phase, or a scandal breaking out.
The strategy would differ depending on the reason.
Dilarang mengopy novel dari Enuma.id.
He also needed to find out how cornered Cha Eunchae was, and what kind of situation Seoseong Securities was in.
Only by knowing the depth of the crisis could he gauge the size of the opportunity.
Еn̊uṁa.. ī d́
‘For FaceNote’s stock price, analyzing public information is enough. But for the internal situation, hearing it directly from the parties involved is certain.’
After organizing his priorities, he picked up his jacket.
Han Juhyeong followed after him.
“Where are you going?”
“I’m thinking of going to Seoseong Securities.”
※ ※ ※
Dilarang mengopy novel dari Enuma.id.
Back to reality.
03:00:01 A.M.
Only one second had passed, but Lee Jaseong felt extreme fatigue.
FaceNote had bestowed tears of blood upon countless investors in just three months after its debut.
Han Juhyeong pressed Cha Eunchae, Cha Eunchae pressed Seo Minju, and Seo Minju tried to shove the responsibility onto Seo Minjae…….
‘What a shitshow.’
Ѐ n um̆ӓ. i d
Lee Jaseong pressed firmly against his eyelids to ease the fatigue. Even so, this time slip had been satisfying.
— Three months after listing, FaceNote’s stock price was cut in half.
Dilarang mengopy novel dari Enuma.id.
It was because he had witnessed the countless opportunities created by this single line of information.
‘First of all, there’s investment profit.’
The simplest method was to take a short position on FaceNote.
If one took a short position right after listing, one could earn at least a 50% return within three months.
W е̃b̈ n̈ӧv́е̇ l Е n̄ ümа̌
Alternatively, buying when the stock price had completely bottomed out would also work.
A major IT company like FaceNote would not stay at the bottom forever.
So making money was easy.
The real thing was influence.
Dilarang mengopy novel dari Enuma.id.
With so many people burned, the client spectrum naturally widened.
‘First, Han Juhyeong.’
Е̂n um̂ а̊
Han Juhyeong had lost ten billion won. The financial loss was a loss, of course, but at this rate, he would also squander the points he had painstakingly earned through the Yuseong Steel acquisition.
‘And Cha Eunchae, too.’
Cha Eunchae had gone into hiding. She struggled desperately to avoid investors’ pressure, but even the background of being the loan shark king’s granddaughter was no help this time.
Seoseong Securities was the same.
It was the only securities firm in the country that had distributed FaceNote shares.
When the IPO ended in failure, its reputation took a hit.
Dilarang mengopy novel dari Enuma.id.
But…….
‘……the contract with Seo Minjae is over.’
It had been a clean deal in which both sides got what they wanted.
The contract with Seo Minjae had been successfully completed, and now everything had returned to square one.
Seo Minju vs Seo Minjae.
This time, whose hand would he take?
Е̃n um̌ а́
‘Of course, industry ethics still have to be upheld.’
If he worked with Seo Minju immediately after consulting Seo Minjae,
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he would lose the trust of both sides.
That was why the contract included a non-compete and conflict-of-interest clause.
The consultant may not perform similar work for a client’s direct competitors for six months after the termination of this contract.
However, the following cases are exceptions:
Е nùmа̀
a. When prior written notice is given to the client and consent is obtained
b. When the scope of work is clearly distinguished and no conflict of interest arises
The consultant must immediately disclose any potential conflict-of-interest situation to the client when it occurs.
Therefore, as long as the proper procedures were followed, Lee Jaseong was free to choose his clients.
Dilarang mengopy novel dari Enuma.id.
Han Juhyeong, Cha Eunchae, Seo Minjae, Seo Minju.
Potential clients on the brink of crisis were lining up.
Е́ n u m_а
“Who’s the most desperate.”
Desperation led to loyalty, and that created stable business relationships.
Weighing each person’s desperation and calculating who would offer better terms was quite an enjoyable dilemma.
However, the worry did not last long.
Because the phone on the desk began to vibrate.
A smile of interest spread across Lee Jaseong’s lips when he checked the screen.
Dilarang mengopy novel dari Enuma.id.
“I didn’t see this coming.”
The sender’s name stood out clearly.
[Seo Minju]
Seo Minju recalled her conversation with Cha Eunchae.
‘Lee Jaseong set up a family office.’
‘Eunchae, don’t tell me that’s the information you brought me? Makers is already a Seoseong Securities client, you know?’
Е̃nǔ m̃á . і̆d̆
‘Unni, what do you take me for? Do you know what Makers’ main business actually is?’
‘Investments?’
Dilarang mengopy novel dari Enuma.id.
The U.S. credit rating downgrade.
That event, where Lee Jaseong had reaped massive investment profits while she had only been stabbed in the back, had happened just last year.
But Cha Eunchae wagged her finger back and forth.
‘Mm-mm, no. Consulting.’
Ẅеb̌ñ ǒ v̆е l̈ E̊n uma
‘……Consulting?’
‘Yeah. Succession consulting for chaebols. That’s why it was Makers.’
She hadn’t known this.
Up until now, there had only been two clients—Seo Minjae and Han Juhyeong.
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And due to confidentiality clauses during ongoing projects, nothing had been disclosed externally.
At first, Seo Minju snorted in ridicule.
E ñu ṁ а̃
‘Succession consulting?’
It wasn’t even funny. As fellow third-generation chaebol heirs, who was consulting whom?
But still.
‘He produced results. And with incompetent Han Juhyeong and the illegitimate child Seo Minjae, no less.’
Producing results of this scale while dragging along guys loaded with penalties,
was proof that Lee Jaseong’s consulting model actually worked.
Dilarang mengopy novel dari Enuma.id.
Once she realized that, her mind felt lighter instead.
‘Lee Jaseong is just doing business.’
Lee Jaseong moved purely by business logic, not personal feelings or loyalty.
That also meant he could abandon Seo Minjae at any time, depending on the profit.
‘Seo Minjae isn’t exceptional. He just obtained a weapon called Lee Jaseong.’
If she took that weapon away, everything would return to normal.
Е̃ n ǔm̂a
So Seo Minju met Lee Jaseong.
A private restaurant in Cheongdam-dong.
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After killing time appropriately over appetizers, Lee Jaseong asked,
“What did you want to see me about?”
“I wanted to say thank you.”
“Have I ever done something that would make you grateful, noona?”
Ё n ūmа̄. і̂d
“You’re the one who helped recover the Yuseong Group bonds. Thinking about it, I should be thanking you, not Seo Minjae. Thanks to you, we avoided punching a hundred-billion-won hole in Seoseong Securities’ financial statements.”
“Ah, that.”
It was implied that she knew about the succession consulting and that he had joined hands with Seo Minjae.
Lee Jaseong let out a small chuckle.
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From Han Juhyeong to Cha Eunchae, from Cha Eunchae to Seo Minju. It had spread quickly.
He lightly tilted his head. A signal that he understood and she should get to the point.
E n̄ ũm̀ а̇ . î d
“Are you going to keep helping Seo Minjae?”
“Well. Saying ‘helping’ isn’t quite right. It was just a contract.”
“That’s true. Then are you planning to keep contracting with Seo Minjae going forward?”
The conversation was circling. Lee Jaseong slightly furrowed his brows.
He had thought Seo Minju had come to request consulting. But the focus of the conversation was still fixed on Seo Minjae.
“That’s a strange question. You just need to decide whether or not you’ll contract with me. Isn’t there no room for Seo Minjae to butt in here?”
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“Me…… contracting with you?”
Entering into a consulting contract with Lee Jaseong.
She hadn’t considered it from that angle, so Seo Minju paused to think.
‘If I sign the contract first, I can exclude Seo Minjae.’
Lee Jaseong’s clients were people with defects, people who needed help. Like Seo Minjae and Han Juhyeong.
But she was fundamentally different from them.
Е̇ṅ ù m а̊
‘Seo Minjae only popped up briefly because Lee Jaseong helped him. And FaceNote is proceeding without any issues.’
There was no need to go as far as consulting. All she needed was for Seo Minjae to quietly return to his proper place.
Dilarang mengopy novel dari Enuma.id.
“Jaseong, I want Seo Minjae to stay as quiet as a dead mouse. If he keeps acting up, it puts me in an awkward position. In your terms, yes. I want to sign a contract with you where you don’t help Seo Minjae. Of course, I’ll compensate you sufficiently. Everything Seo Minjae promised you, I’ll provide it all.”
“And how do you know what Seo Minjae promised?”
“Anything. As you know, I have more authority. I can do more for you than Seo Minjae can. Isn’t this a pretty advantageous set of terms? Just by not helping Seo Minjae, you’ll get everything.”
“Yeah. It’s certainly an interesting proposal.”
Е n ûm а_. i̊ d
The corner of Lee Jaseong’s lips twisted upward.
Not ‘please contract with me,’
but ‘don’t contract with Seo Minjae.’
She was offering to do anything if he gave up one client.
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“Arrogant.”
“……What?”
Еn̈ù m̈a
Seo Minju hadn’t come to draw her own future, but to erase Seo Minjae’s future.
She was willing to pay the price for ‘doing nothing.’
But this was a proposal that denied the very reason Makers existed.
Because Makers was a company that created futures.
“Do you believe that just by handing me some compensation, you can restrict my business even though you have no intention of becoming a client?”
“Jaseong, there’s been a misunderstanding—”
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“Then let’s assume it was a misunderstanding, and consider that proposal null and void.”
She hadn’t expected him to refuse.
Bewilderment surfaced on Seo Minju’s face.
She fell silent for a moment, then pulled out another card.
“You know Seo Minjae reports directly to me, right? If you’re going to execute investments, you’ll need brokerage services, and I…….”
“Hey, Division Head.”
W̃ е̃bń оv̊ е l̊. Е̊nû ṁ а
Lee Jaseong cut her off gently.
“You’re not suggesting that you’ll lower my leverage limit or tighten risk regulations to block my investments, are you?”
Dilarang mengopy novel dari Enuma.id.
Unable to find an answer, Seo Minju only moved her lips. Lee Jaseong savored the silence fully.
How long had it been since he’d received a threat?
He hadn’t faced pressure this blatant since his uncle.
It seemed he would need to add a new category to his client classification system.
Е n ůḿа. ī d.
Hungry clients, full clients, and ‘dangerous clients.’
Seo Minju was clearly the third.
Today she was trying to block his contract with Seo Minjae, but tomorrow she would make another demand.
Lee Jaseong’s voice sank coldly.
Dilarang mengopy novel dari Enuma.id.
“If Seo Minjae stood out, thanks to me, and you came to me because that scares you, then you should be careful with what you say next.”
Seo Minju’s face visibly stiffened.
Ё n̄ ům а . і̇d̈
Lee Jaseong smiled faintly.
“Go on. So, what are you planning to do to me now?”
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