LeEco postpones disclosure of restructuring plan
The company intends to increase the total of number of shareholders to 46, which is expected to lead to a decrease in its target transaction price
LeEco announced on Monday evening that it will postpone the announcement of its restructuring plan due to impending uncertainty over relevant work, China Securities Journal reported.
The original plan was to announce its major asset restructuring program and other relevant information before October 16.
The company and all related parties have been actively promoting related work since the planning of major asset restructuring, and will try their best to resume stock to trading as soon as possible, it said in an announcement.
The company intends to increase the total of number of shareholders to 46, which is expected to lead to a decrease in its target transaction price. The specific amount has not yet been finalized, the report added.
On September 22, the company filed a statement to the Shenzhen Stock Exchange, urging founder and former CEO Jia Yueting to fulfill his commitment to lend it capital.