Jia Yueting 137 million shares of the one-time repayment of livelihood trust debt nearly 600 million yuan

Jia Yueting 137 million shares of the one-time repayment of livelihood trust debt nearly 600 million yuan

Source: Sino Singapore latitude and longitude

Yesterday, LTV opened more than 8% high and quickly closed its trading limit one minute after the opening, with more than 546,000 hands queuing up to pay. On September 24, Le TV announced that the final auction results of some shares of Le Rong Zhixin and Le TV Film Industry, which were held by Le TV Holdings and held by Le Rong Zhixin, were sold by Sun Hongbin's company.

Industry insiders believe that the successful auction of some shares in Lexin and Lexin's film industry has something to do with Jia Yueting's cancellation of the pledge of some shares in Lexin. Starting last week, companies including Cathay Pacific Junan and others began to dispose of their shares in the Networks, Networks also said in the announcement that it may face the risk of a change in the actual controller.

Jia Yueting began to repay the money.

On Friday (September 21), the company auctioned the shares of Lexin (a new Lexin sage) and Lexin (a Lexin sage) and Lexin (a Lexin film industry), and Tianjin Jiarui Huixin took over at a floor price of 773 million yuan, according to a Late Notice on September 24. Tianjin Jiarui Huixin is Sun Hongbin's company. After completing the transaction, Tianjin Jiarui Huixin's new ownership of Lerongzhi increased from 30.72% to 46.05%, replacing Lerongzhi as the largest shareholder of Lerongzhi.

According to the price of Sun Hongbin's offer, the valuation of new and Lok pictures declined sharply. At the auction, 21.81% of Le Rong's shares were priced at 532 million yuan, which means the overall valuation of the industry is only 2.439 billion yuan, while Le Rong's new 57.43 million yuan (18.38% of the shares before the increase) is priced at 241 million yuan, which means that Le Rong's new overall valuation is only 1.311 billion yuan.

Although the valuation has been greatly discounted, but the above assets can be successfully auctioned, but also for the settlement of the debt problem has laid a good beginning. Affected by this, LETV yesterday strong trading.

It is worth noting that some people in the industry believe that the successful auction of some shares of Lexin and Lexin has something to do with Jia Yueting's cancellation of the pledge of some shares of Lexin and Lexin. On the evening of September 19, LTV announced that Jia Yueting had released 137 million shares of LTV which were pledged to Minsheng Trust on September 14, and Minsheng Trust was one of the application executing agencies to promote the new equity auction.

The company's 137 million shares of Jia Yueting, a major shareholder, were released on September 14, according to the company's announcement. The 134 million shares were mortgaged to 7 of the same creditor in July 2016 to January 2017.

It is understood that the average pledge price of Jia Yueting is about 20.94 yuan per share (based on the existing stock price), according to a conservative estimate of 20%, the financing is about 574 million yuan. In other words, plus interest, Jia Yueting one-time repayment of livelihood trust debt will be close to 600 million yuan.

On the morning of September 21, Lexus Holdings Holdings will hold a new investment of 31.145 million yuan, equivalent to 10% of Lexus's equity before the new capital increase. The initial bid price will be 131 million yuan, with an assessment value of 187 million yuan. The applicant is Minsheng Trust. In 2016, Lexus Holdings pledged to Minsheng Trust with this part of the stock to be auctioned. The new loan principal and interest for Lexus totaled 1.1 billion yuan.

In addition to Minsheng Trust, Rongchuang Real Estate applied for an auction of 21.81% of Lexus Holdings Holding Lexus Film Industry, and Air China Trust applied for an auction of 26.1183 million yuan of Lexus Holdings Holdings Holdings.

Institutions begin to process pledge stocks

It is noteworthy that the evening announcement of September 19 also said that Cathay Pacific Jun'an plans to freeze the secondary market through judicial means of centralized bidding transactions, dealing with Jia Yueting pledge of 39.54 million shares within 90 natural days from September 13. Cathay Pacific Jun'an's possible default disposal will lead to Jia Yueting passive maximum reduction of 39.54 million shares of the company's shares, or 0.99% of its shares.

Data show that the pledge originated on June 23, 2016, Jia Yueting in Guotai Jun'an stock pledge repurchase business financing, a total of 39.54 million shares pledged Le Video network, pledge expiry date is June 23, 2017, but Jia Yueting did not repurchase according to the contract, repayment of liabilities, constituting a default. As for this pledge, the music network in 2016 also did not make the announcement according to the regulations.

In addition to Guotai Junan, Ping An Securities, Huafu Securities, Western Securities and other securities firms will also appeal to the court Jia Yueting for repayment of financing liabilities, only these four securities firms, Jia Yueting total debt outstanding more than 1.6 billion yuan.

Le Vietnam's semi-annual report for 2018 shows that Jia Yueting holds 1.023 billion shares, of which 1.02 billion are pledged and all have touched the liquidation line. According to the report of Securities Daily, since 2013, there have been 34 publicly disclosed portions of LTV, of which 19 have not been liquidated, involving CITIC Securities, Guoxin Securities, Western Securities brokerages and other financial institutions.

Industry insiders believe that as Cathay Pacific Jun'an began to dispose of Jia Yueting's LTV stocks pledged, more financial institutions to dispose of LTV stocks pledged by the curtain is about to open.

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