There was no accident. On June 5, the first day of LETV exit (300104. SZ) entering the delisting consolidation period began with a one word drop.
As of the press release of the 21st century economic report, LETV had more than 7 million return orders, with a total market value of 6.1 billion yuan, at 1.52 yuan.
According to the announcement, LETV shares have been decided by Shenzhen Stock Exchange to terminate listing. Today, LETV officially enters the delisting consolidation period of 30 trading days, with the expected final trading date of July 20. During the trading period of delisting consolidation period, the company will not plan or implement major asset restructuring matters.
According to Shenzhen Stock Exchange implementation measures for delisting companies of Shenzhen Stock Exchange (revised in 2018), gem does not accept the application for relisting. Therefore, LETV, as a gem company, cannot relist after delisting. These 30 trading days have become the last time for LETV shareholders to escape from the secondary market of a shares.
The first quarter report shows that as of March 31, the number of shareholders of LETV was 280700.
Among them, Jia Yueting holds 920 million shares, accounting for 23.07%, which is still the largest shareholder of LETV; Jia Yuemin holds 63.68 million shares, accounting for 1.6%; LETV holding (Beijing) Co., Ltd. holds 23.88 million shares, accounting for 0.6%; all the shares held by the three are frozen.
However, even as the largest shareholder of LETV, the delisting of LETV has little impact on Jia Yueting. Jia Yueting has pledged 857 million shares, accounting for 93.05% of the companys shares.
The securities companies that deal with the stock pledge have become the takeover man of the bottom. Oriental Securities, Founder Securities and Western securities are all involved. Western securities, the worst, was forced to withdraw 439.4 million yuan of asset impairment reserves, eating up 30% of its net profit attributable to its parent in 2017.
A number of institutional asset management plans have also failed LETV.
According to the first quarter report, among the top ten outstanding shares, there are 5 institutions with a total shareholding of 2.31%, including fuchundingzeng 1061 asset management plan and 1076 asset management plan of CAITONG fund, Dacheng China securities financial asset management plan, GF China securities financial asset management plan, and China Europe China securities financial asset management plan.
On the eve of LETVs delisting consolidation period, a notice showed that rongchuang, who invested more than 6 billion yuan to acquire 8.56% of LETVs equity three years ago, wanted to sell LETVs shares at a price of 0 yuan and completely liquidate LETV.
On June 4, Shenzhen Stock Exchange issued a letter of concern to LETV, asking it to verify and explain the reasons for Yingrui Huixins transfer of 100% equity of Jiarui Huixin, the pricing basis and rationality of the equity transfer consideration of 0 yuan, and whether the relevant parties of financing and innovation have evaded the shareholding reduction limit system; Zhixin cloud, the transferee of the equity, as well as its controlling shareholder, actual controller and director , whether the supervisors and senior managers have any relationship with rongchuang group and Yingrui Huixin or any other hidden relationship, and whether there is equity holding on behalf of them.
(author: Zhou Ying editor: Li Xinjiang)
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