LeEco Unit Leshi Cancels 200 Billion Yuan Bond Fundraising


LeEco subsidiary Leshi Internet Information & Technology has canceled its 200 billion yuan (around $ 294 million) bond fundraising initiative that was filed in September last year. The listed arm of the Chinese multinational said at that time that its working capital would be increased with the income made from the bond issues. However, when posting the company’s latest update about the fundraising move to the Shenzhen Stock Exchange, Leshi declined to explain why the plans are being terminated. Similarly, executives from the LeEco listed unit have not commented on the matter, although the news follows questions about the financial health of the company by Chinese regulators. Prior t…
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