LeTV STB Subsidiary Receives RMB 300 Mln in Additional Funding

Shenzhen Stock Exchange, 4/02/13

In a public filing today, Chinese online video site LeTV (Leshi) (300104.SZ) announced that its TV set-top box (STB) developer subsidiary Leshi Zhixin Electronics Technology has received an additional RMB 300 mln in funding from LeTV, Leshi Holding (Beijing), and Shenzhen-based construction company Guanding Construction Engineering. Guanding Construction Engineering will put up RMB 130 mln in exchange for a 20% stake in Leshi Zhixin, indicating a current valuation of RMB 650 mln.

According to data from the Shenzhen Bureau of Industry and Commerce, 80% of Guanding Construction Engineering is held by Du Ling, director of Taiwanese electronics manufacturer Foxconn's (2038.HK; 2354.TW) investment department, and other Foxconn executives.

Keywords: Du Ling funding television LeTV 2038.HK 2354.TW set-top box 300104.SZ Leshi Leshi Zhixin Internet TV Foxconn Guanding Construction Engineering

Feedback

Sending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily