Chapter 1456 Low Bidding Price

“Ladies and gentlemen, welcome. Before we begin the auction today, let me go over the rules first.”

Eddie went up to the stage and started to act as the auctioneer.

The auction was not really legitimate. It was organized by Rove themselves and they did not seek the professional service of an auction house, so Eddie took the role of auctioneer.

“The rule is simple. Rove will be auctioning 20% of our shares and the highest bidder wins!”

20% of the company shares were considered high.

Lee Investment only had 5% of shares and they were already the biggest shareholder with the power to hold a shareholder meeting or dismiss the chairman.

Rove was a family business, so the Lyfe family held the majority of the shares, which allowed them to still be in power.

20% of shares allowed one to have power in the shareholder meeting and could also make strategic decisions to determine the future of the company.

The management of Rove must have been desperate.

To acquire large funding,