Chinese Video Site LeTV to IPO in Shenzhen

Beijing Times, 6/10/10

According to a public filing from the China Securities Regulatory Commission (CSRC), the CSRC's growth enterprise board committee will review the IPO application of Beijing-based online video site LeTV today.

According to LeTV's prospectus, the company has a pre-IPO total of 75 mln shares; the company plans to issue 25 mln shares of common stock through the IPO, for a post-IPO total of 100 mln shares, all circulating. The company plans to list on the Shenzhen Stock Exchange with shares valued at RMB 1 apiece. Funds raised through the IPO will be used for upgrades and changes to the company's online video infrastructure and applications platform, upgrades to its 3G streaming media applications platform, expansion of its R&D center, and for other projects related to LeTV's business operations.

Editor's Note: Sohu IT later reported that LeTV's application has been approved, and the company will list on the ChiNext growth enterprise board.

Keywords: ChiNext Internet IPO online video LeTV CSRC Shenzhen Stock Exchange

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