By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
BeFirsTrankBeFirsTrank
  • Home
  • Car Reviews
  • Auto Shows
  • Bike Reviews
  • Future
  • New Car
  • Used Car
  • Contact Us !
Reading: LeEco Gets Fresh $2.18 Billion Investment From Property Developer Sunac
Share
Aa
Aa
BeFirsTrankBeFirsTrank
  • Home
  • Car Reviews
  • Auto Shows
  • Bike Reviews
  • Future
  • New Car
  • Used Car
  • Contact Us !
Search
  • Home
  • Car Reviews
  • Auto Shows
  • Bike Reviews
  • Future
  • New Car
  • Used Car
  • Contact Us !
Have an existing account? Sign In
Follow US
© 2023 BeFirsTrank News Network
News

LeEco Gets Fresh $2.18 Billion Investment From Property Developer Sunac

srijita
Last updated: 2017/01/17 at 5:42 PM
By srijita 2 Min Read
Share
SHARE

LeEco Gets Fresh $2.18 Billion Investment From Property Developer Sunac

Chinese technology conglomerate LeEco has secured a new round of investment worth CNY 15.04 billion ($2.2 billion or roughly Rs. 14,856 crores) from property developer Sunac China Holdings, according to a stock exchange statement made by Sunac on Friday.

Last year LeEco’s founder and chairman Jia Yueting said that his company was facing financial obstacles due to the rapid pace of growth in various businesses, but the company soon afterwards announced it had secured commitments for $600 million to support its automotive and other high-tech businesses.

Sunac, through its real estate subsidiary Sunac Real Estate, said on Friday it plans to invest CNY 6.04 billion (roughly Rs. 5,966 crores) in LeEco’s Shenzhen-listed unit Leshi Internet Information and Technology Corp Beijing, by acquiring an 8.61 percent stake.

It also plans to invest CNY 1.05 billion in LeEco’s film production company, Leshi Pictures, by acquiring a 15 percent stake, and pay another CNY 7.95 billion ($1.15 billion) for a 33.5 percent stake in Leshi Internet’s subsidiary Leshi Zhixin, known for its smart Internet TVs.

Trading in Leshi Internet Information’s shares, which was suspended on December 6, will resume on January 16.

Sunac has been seeking investment opportunities linked with China’s technological innovation and the upgrade of consumption sectors.
Sunac said the strengthened partnership with LeEco will enable both firms to cooperate in areas such as intelligent hardware, real estate, and smart homes. It also highlighted industrial real estate as an area for greater cooperation.

For LeEco, the fresh round of funds can likely help resolve some financial difficulties it has faced in recent months, as it continues its push into the smartphones, film, sports, electric and driverless vehicles markets.

In the stock filing, Sunac said it paid CNY 35.39 per share for its stake in Leshi Internet.

Leshi Internet Information also said in a separate filing on the Shenzhen stock exchange that Chinese insurer Huaxia Life invested CNY 400 million ($58 million) in Leshi Zhixin.

[“source-ndtv”]

You Might Also Like

How Google’s AI can help transform health professions education

Certified AC Technicians in Ocala: Your Local Cooling Experts

Beyond the Map: What Modern Vehicle Tracking Can Do for Your Business

What Should My Video Game Room Have?

From Traditional Payments to Innovative Solutions: How Car Insurance Is Adapting to Modern Needs

TAGGED: $2.18, Billion, Developer, Fresh, From, Gets, Investment, LeEco, Property, Sunac
srijita January 17, 2017
Share
Previous Article Samsung Galaxy S8 to Sport AMOLED Display, Bezel-Less Design, Promo Videos Suggest
Next Article Samsung Galaxy C7 Pro With 5.7-Inch Super AMOLED Display Goes Official

Calendar

September 2025
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
2930 
« Aug    

Latest Trending News

  • The Ferrari 849 Testarossa Combines Power and Tradition September 13, 2025
  • User Review of FZ S Hybrid September 10, 2025
  • Lexus Cars Get Cheaper after GST 2.0: Check Full Price List September 9, 2025
  • How Google’s AI can help transform health professions education September 3, 2025
  • Your Ebike Battery is Draining Too Quickly? Six Reasons August 29, 2025
  • Test of Turbo Petrol-Powered Automobiles: Actual City and Highway Fuel August 26, 2025
  • Buying a Used VW Car in Albuquerque? Here’s What to Know August 21, 2025

© 2023 Befirstrank News Network. All Rights Reserved.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?