Leshi Internet, 8/11/17
Chinese online video content and smart device firm Leshi Internet Information and Technology (300104.SZ) has issued an announcement stating that its second largest stockholder, Sunac China Holdings (1918.HK) subsidiary Tianjin Jiarui Huixin Corporate, has pledged its entire stake in Leshi Internet to CITIC Trust Co. The stake accounts for 8.56% of all equity in Leshi, and the procedures for the pledge have already been completed.
Sunac China Holdings recently received funding from an unnamed source, and part of the investment agreement was a requirement to pledge Jiarui Huixin's stake in Leshi to CITIC Trust.
Editor's Note: For more information on this topic, please see "Update: Sunac China Completes Purchase of Leshi Internet Shares," MD 3/30/17 issue.