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FINANCE

LeEco’s Shenzhen-Listed Unit Eyes Restructuring

Shares of Leshi Internet Information & Technology Corp., formerly known as LeTV, rebouned on Wednesday as investors bet on the success of the LeEco unit's restructuring plan. Photo: IC
Shares of Leshi Internet Information & Technology Corp., formerly known as LeTV, rebouned on Wednesday as investors bet on the success of the LeEco unit's restructuring plan. Photo: IC

The listed unit of debt-ridden LeEco is drafting a new restructuring plan to revive itself as shares tanked, however the lingering uncertainties on debt resolving is dragging the firm slow in progress.

The unit, Leshi Internet Information & Technology Corp., said it still needs at least three more months to finalize the reform and restructuring plan, sources close to the executives of real estate company Sunac China Holdings told Caixin. Sunac injected large cash into the LeEco a year ago and its president Sun Hongbin is now taking the helm of both LeEco and Leshi.

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