Chapter 336: Chapter 336 - Chapter 35, Episode 8: Signs of Downfall

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“Ah Young, try calculating based on last quarter’s standards.” “I already did. It’s 18,900 won.” Park In Bo smiled in satisfaction at her efficiency. “You converted them based on asset value per share, right?” “Ya, I took off the repetitive ones and stopped at the 100s.” “Hehe, after revaluation, the premium should go over 25,000 won.” “Gosh, 25,000 won is five times the face value! Who’ll buy it? Anyone who does is probably mad.” Jung Ah Young tilted her head. Even companies better than Good Heart Oil didn’t issue premium corporate bonds. Who would buy corporate bonds with no interest income? “Don’t worry, Ah Young. There’s a perfect brother in the countryside. A madman who sells fields like crazy for money. Hahahaha!” Park In Bo laughed, losing all of his composure. “Oh, there’s already an investor? You’re not going to tell me who that idiot is, right?” Jung Ah Young’s eyes twinkled. She could tell, even if her boss didn’t say it. The images of Madam Jang, who had slapped her cheek, and her daughter, who had caused her head to bleed with the corner of her document tray, flashed before her eyes. “Hehehe, you’ll know soon.” “Congratulations, boss. I’ll go buy a cake.” Light-footed, Jung Ah Young left the office. Park In Bo, who was smiling the entire time, slowly hardened his expression. The Jang family was obviously excited to take over the management rights with the CB, but that would be impossible. Convertible bonds were like blowfish dishes in which blood hadn’t been drawn out. He took out a calculator and double-checked the change in shares again. If they converted the entire CB worth 3,000,000,000 won now, around 158,000 new shares would be issued. The Jang family’s plan was obvious. Their shares would exceed 50 percent if they converted based on the current issued price. Even if the conversion price increased slightly, once the three siblings combined their shares and bought other shareholders’ shares, they’d be able to replace the CEO by vote. While it was more than enough according to their calculations, the Jang family had taken him too lightly. The trap was laid with the conversion price. The Jang siblings, who were unfamiliar with the bond market, overlooked the change in conversion price. Selling the idle garages and non-commercial land in Chilgok owned by Good Heart Lodgings before the asset revaluation would significantly increase his textile assets. If one’s assets accumulated, the conversion price would increase. According to Park In Bo’s calculations, the conversion price was at least 27,000 won. While it was an obvious trick, there were no legal penalties. The stocks that were currently counted at 158,000 shares could drop to 100,000 shares. It was fine if the Jangs converted some of theirs. Once the capital surplus was accounted for, the conversion price of the remaining convertible bonds was bound to increase further. Just holding onto them instead of converting them would be problematic. They’d earn one percent of interest over three years. The interest on a bank term deposit was 13 percent. The interest on a loan was 15 percent, even with preferential interest rates. It didn’t matter whether the Jang family were landowners because to raise 3,000,000,000 won for the acquisition, they would have to sell their fields and obtain loans. The Jang family was bound to become a dog chasing a chicken on a roof. “Damn, but we did live together for decades…” Park In Bo’s face grew somber. It was saddening that he had to make an enemy of his wife. Good Heart Oil was Park’s company. The Jang family were like hyenas. They were people who’d take the company apart, not raise it. Even in ancient times, a country would waver when family members were involved. Handing over the company to Wu Tak? Impossible. He had yet to learn anything, and even now at 24, he still had no interest. He was a b*stard who only knew how to spend money and associated with gang members. Good Heart Lodgings was enough for Wu Tak. The transportation business didn’t require extraordinary management skills. He just had to take care of the people there. There wouldn’t be much of a problem even if Wu Tak was placed in charge. The passenger transportation industry was currently overflooded. Since everyone rushed into it, the returns decreased significantly. There were no more roads to build on this small land, either. Still, the charms of a cash business remained. He wouldn’t have a problem making ends meet as long as he could maintain the current situation. Good Heart Oil could fall back a little since the oil economy was doing well, but if he collapsed, the company was bound to collapse too. If he didn’t want to hand the company over to the Jang family, he had to hand it to Mu Ssang. Rather, that was the least he could do to make up for his wrongdoings. He would need an excuse to tell his brother when he visited the underworld, wouldn’t he? “Jin Bo, your brother’s sorry. I’m really sorry. I’ll give Ssang a gift even if I die, so forgive me,” Park In Bo muttered. The convertible bond plan would allow him to take his revenge and hand over the company on a clean slate. He didn’t want Mu Ssang to be concerned like he was by handing over a company full of cancer cells called the Jang family. It was Park In Bo’s special Disturbing Water to Catch Enemies plan. Park In Bo wasn’t monk Dae Woo. As someone who wasn’t aware of Mu Ssang’s abilities and wealth, he had no choice but to resort to such tricks. A week later, Good Heart Oil’s convertible bonds were issued at a face value of 3,000,000,000 won.

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