Leshi Internet Information & Technology Corp., Beijing cancelled the acquisition of Le Vision Pictures Co Ltd from Shenzhen Capital Group Co., Ltd., Sequoia Capital China, CHT Capital and Beijing Rongxinhang Fund Management Center (Limited Parnership).

Leshi Internet Information & Technology Corp., Beijing (SZSE:300104) agreed to acquire Le Vision Pictures Co Ltd from Shenzhen Capital Group Co., Ltd., Sequoia Capital China, CHT Capital and Beijing Rongxinhang Fund Management Center (Limited Parnership) for CNY 9.8 billion on May 9, 2016. The consideration shall be made in cash and stock. Under the terms of the agreement, Leshi Internet will pay 2.9 billion in cash and will issue 164 million shares at CNY 41.37 per share. In related transaction, Leshi Internet will issue new shares through private placement to raise up to CNY 5 billion. Leshi Internet Information & Technology Corp., Beijing (SZSE:300104) cancelled the acquisition of Le Vision Pictures Co Ltd from Shenzhen Capital Group Co., Ltd., Sequoia Capital China, CHT Capital and Beijing Rongxinhang Fund Management Center (Limited Parnership) on May 9, 2017.