You will be redirected back to your article in seconds

LeEco Shares Suspended Ahead of Restructuring

Shares in Le Shi Internet and Technology, one of the key companies in China’s financially-troubled LeEco cluster of linked entertainment and technology firms, were suspended on Monday.

In a statement the company said that trading of the counter on the Shenzhen stock market would remain halted until it made a unveiled a restructuring that would involve “major adjustments.” The company expects to detail the changes on Wednesday, along with publication of its overdue set of 2016 financial results.

Headed by Jia Yueting, Le Shi revealed in October last year that the group had run into financial difficulties as a result of over-rapid expansion.

Since that time it has raised new financing and halted some ventures. Last week it confirmed that it would not be going ahead with the $2 billion acquisition of U.S. smart television set manufacturer, Vizio.

More Biz

  • THE TONIGHT SHOW STARRING JIMMY FALLON

    Childish Gambino Signs With RCA, New Music on the Way

    Shares in Le Shi Internet and Technology, one of the key companies in China’s financially-troubled LeEco cluster of linked entertainment and technology firms, were suspended on Monday. In a statement the company said that trading of the counter on the Shenzhen stock market would remain halted until it made a unveiled a restructuring that would involve […]

  • Neil Portnow Grammys

    Grammy Chief Neil Portnow to Testify Before House Judiciary Committee About Music Legislation

    Shares in Le Shi Internet and Technology, one of the key companies in China’s financially-troubled LeEco cluster of linked entertainment and technology firms, were suspended on Monday. In a statement the company said that trading of the counter on the Shenzhen stock market would remain halted until it made a unveiled a restructuring that would involve […]

  • --FILE--Wang Jianlin, Chairman of Dalian Wanda

    Wanda Reports Nearly 11% Revenue Drop in 2017

    Shares in Le Shi Internet and Technology, one of the key companies in China’s financially-troubled LeEco cluster of linked entertainment and technology firms, were suspended on Monday. In a statement the company said that trading of the counter on the Shenzhen stock market would remain halted until it made a unveiled a restructuring that would involve […]

  • Sag Awards Preview

    How to Watch SAG Awards 2018 Online

    Shares in Le Shi Internet and Technology, one of the key companies in China’s financially-troubled LeEco cluster of linked entertainment and technology firms, were suspended on Monday. In a statement the company said that trading of the counter on the Shenzhen stock market would remain halted until it made a unveiled a restructuring that would involve […]

  • Women's March rallyWomen's March rally, New

    Celebrities Champion LA, NYC Women's Marches: 'March On, My Sisters!'

    Shares in Le Shi Internet and Technology, one of the key companies in China’s financially-troubled LeEco cluster of linked entertainment and technology firms, were suspended on Monday. In a statement the company said that trading of the counter on the Shenzhen stock market would remain halted until it made a unveiled a restructuring that would involve […]

More From Our Brands

Access exclusive content