Caixin
BUSINESS & TECH

Leshi IPO Review Officials Under Investigation

By Zhang Yu and Denise Jia
With the probe on the three members of the ChiNext review committee, LeEco’s controversial financing plans once again raised questions. Photo: Visual China.
With the probe on the three members of the ChiNext review committee, LeEco’s controversial financing plans once again raised questions. Photo: Visual China.

Two of the seven-member panel at the China Securities Regulatory Commission that reviewed and approved of Leshi Internet Information & Technology Corp.’s 730-million-yuan ($110.4 million) initial public offering plan in 2010 are now being investigated by judicial authorities, Caixin has learned.

A third person, who was on the CSRC’s panel that reviewed other firms' IPOs but did not vote on the listing of Leshi, the listed unit of struggling online video company LeEco, is also being investigated for allegedly “offering assistance” to facilitate the IPO, sources said.

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