Sunac China Rebuts Claims Its Chairman Sought Financing to Increase Its Stake in LeTV Subsidiaries
Xu Wei
DATE:  Sep 07 2017
/ SOURCE:  Yicai
Sunac China Rebuts Claims Its Chairman Sought Financing to Increase Its Stake in LeTV Subsidiaries Sunac China Rebuts Claims Its Chairman Sought Financing to Increase Its Stake in LeTV Subsidiaries

(Yicai Global) Sept. 7 -- Sunac China Holdings Ltd. [HK:1918] has rebutted claims made by an insider that its chairman, Sun Hongbin, recently went to multiple large-scale commercial banks to negotiate financing to further increase his firm's stake in multiple subsidiaries of Leshi Internet Information & Technology Corp. [SHE:300104] (LeTV), Sina.com reported.

Some banks are inclined to invite Sun for discussions, while others are hesitant, the Securities Daily quoted an insider as saying yesterday.

Sunac China holds an 8.61-percent stake in LeTV, a 15-percent one in Le Vision Pictures Ltd. and about 33.5 percent of Leshi Zhixin Electronic Technology (Tianjin) Co.'s equity through a subsidiary. These shareholdings are worth a total of USD2.31 billion (CNY15.04 billion).

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Keywords:   Leshi,SUNAC