LeTV to Establish M&A Fund

Shenzhen Stock Exchange, 4/16/14

Chinese online video and Internet TV content provider LeTV (Leshi) (300104.SZ) has announced that the company plans to invest RMB 10 mln to establish a financial investment and M&A fund tentatively named "Lingshi Toubing." Zhang Te, LeTV's board secretary, will oversee daily fund monitoring and management.

According to LeTV, Lingshi Toubing will focus on investment opportunities related to creating a comprehensive LeTV ecosystem and industry chain, including app, mobile internet, cloud computing, and smart device projects. The fund will be structured as a limited partnership company with estimated capital of between RMB 500 mln and RMB 1 bln. LeTV will be the fund's limited partner through an investment of RMB 10 mln, with LeTV's parent and subsidiary companies providing a combined RMB 90 mln. The rest of the fund's capital will be raised by LeTV affilaite Leshi Holding.

Keywords: Internet investment online video LeTV Internet TV 300104.SZ Leshi Zhang Te television

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