It is rumored that LeTV Sports has launched its Hong Kong listing plan and has begun to contact investment banks

It is reported that LeSports has recently begun to contact investment banks to prepare to launch a Hong Kong listing plan and plans to list in Hong Kong in 2018. The source said that LeSports has currently communicated with a number of internationally renowned investment banks, but there is no news on which one was ultimately selected. LeSports told reporters that it would not respond to this matter.

On April 13, it was reported that LeSports had recently begun to contact investment banks to prepare to launch a Hong Kong listing plan and plan to list in Hong Kong in 2018. The source said that LeSports has currently communicated with a number of internationally renowned investment banks, but there is no news on which one was ultimately selected. LeSports told reporters that it would not respond to this matter.

LeSports 'first round of financing was completed in May 2015, raising 800 million yuan at a valuation of 2.8 billion yuan. In April last year, LeSports announced the details of its Series B financing: it was led by HNA, with Zhongze Culture, Anxing Assets, CICC Qianhai, Xinpai Capital, Zhongtai Securities, Sports Olympic Power, China Construction Investment Trust, BOC Yuecai, etc. More than 20 institutions, including more than 10 individual investors such as Sun Honglei, Liu Tao, and Chen Kun, followed the investment, and Series A shareholders such as LeTV Group and Dongfang Huifu increased their holdings, resulting in a total of 8 billion yuan. The company's valuation reached 21.5 billion yuan.

In terms of corporate structure, in December last year, LeSports announced new organizational changes and personnel adjustments, establishing a new media and online business group, an offline business group, and a sports consumer business group. The newly established new media and online business group covers the media business department, the e-sports business department, the lottery business department and the member business center, providing online sports services to three-end users of PC, mobile, and Internet TV. This business group is jointly organized by President Liu Jianhong is in charge. The offline commercial business group includes an event operation center, an industry center and a fitness division, providing offline professional services such as competition, sports, leisure and fitness for the sports population. The sports consumer business group includes the Equipment Division, the Intelligent Terminal Division, the E-commerce Sales and Service Center, and the Intelligent Research Institute. This business group means that LeSports will officially enter the field of sports equipment consumption. Among them, the equipment business department will be presented as an independent music sports equipment company, and Zhang Zhiyong, president of LeSports, will also serve as CEO of music sports equipment company.

In February last year, LeTV purchased the exclusive new media rights of the Chinese Super League in the 2016 and 2017 seasons for 2.7 billion yuan; but in March this year, Suning Sports announced that it had obtained the exclusive new media rights of the Chinese Super League in the 2017 season, and LeTV Sports was eliminated.

Editor: Nancy