Leshi Denies Major Stakeholders Plan to Cut Shareholding to Introduce New Investor
Xu Wei
DATE:  Mar 16 2018
/ SOURCE:  Yicai
Leshi Denies Major Stakeholders Plan to Cut Shareholding to Introduce New Investor Leshi Denies Major Stakeholders Plan to Cut Shareholding to Introduce New Investor

(Yicai Global) March 16 -- Cash-strapped Leshi Internet Information and Technology Corp.'s shareholders owning more than 5 percent stake don't have any plans to reduce their holdings, the LeEco's listed arm clarified in a filing in response to market speculation that it gears up to introduce new investors from the internet industry.

Leshi doesn't have any plan nor intention to invite new investors or make capital increase, said the company shaken by its chairman Sun Hongbin's recent sudden resignation. The new investor of Leshi may be a top player from the internet sector, an industry veteran told Yicai Global. Earlier reports also suggested that Leshi's possible new investor might be a leading internet company.

As for capital increase process of its subsidiary New Leshi Zhijia Electronic Technology (Tianjin) Co., follow-up communication and negotiations with various parties are under way and no agreement has been reached yet, Leshi said.

In its filing dated March 14, the listed company announced the resignation of Sun Hongbin as chairman. Liu Shuqing, director and general manager of Leshi, has temporarily taken over the duties of chairman.

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Keywords:   Leshi,Internet,Debt Restructuring,LEECO