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Jia Yueting denies FF bankruptcy while private funds suffer a lot in investing LeSee

Biwen Wang From Gasgoo| November 01,2017

Jia Yueting FF bankruptcy

Shanghai (Gasgoo)- Currently, it’s reported that Jia Yueting intends to submit for FF bankruptcy and then sell it to other investors in America, but Faraday Future denies the report. It’s said by insiders of LeSee that, “FF A-round financing project is undergoing smoothly and Jia Yueting has kept close contact with many investors.” FF China also states that the rumor aims to obstruct the financing and rumormongers will be prosecuted.

Private funds suffer a lot in LeSee’s investments. It’s shown that LeSee receives a total investment of USD 7.9b from the year 2016 to 2020 with loans in A-round financing, B-round financing and Pre-IPO stages. It was also once predicted that LeSee will be listed into share market in 2021 with a total estimated value of USD 90b. Big shareholders would purchase the shares with an annual interest rate of 12% if LeSee fails to be listed before 2020, which is guaranteed by LeTV Holdings.

In fact, bad news on LeShi Internet comes one after another. Estimated price value on LeShi Internet is cut down by 30% on October 28th again, which is only half of the price before its suspension on April 14th.

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