Leshi Internet Denies Rumor of Bribing CSRC Official over IPO

Leshi Internet, 11/10/16

Chinese online video content and smart device firm Leshi Internet Information and Technology (300104.SZ) recently denied rumors that it bribed Li Liang, formerly a senior official at the China Securities Regulatory Commission, in connection with Leshi Internet's initial public offering (IPO). Leshi Internet said that its internal investigation shows no evidence that the company, its shareholders, or its executive officers were involved in the matter.

Media outlets recently reported on allegations made by the People's Procuratorate of Yangzhou City, Jiangsu Province, indicating that Li Liang accepted more than RMB 6.94 mln from nine companies including Leshi Internet, to provide support for their IPO applications. The People's Procuratorate is investigating Li Liang's criminal liability.

Keywords: scandal Li Liang Internet IPO CSRC 300104.SZ Leshi Internet online video hardware

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