BEIJING, July 31, 2020 /PRNewswire/ — Leju Holdings Restricted (“Leju” or the “Firm”) (NYSE: LEJU), a number one e-commerce and on-line media platform for actual property and residential furnishing industries in China, as we speak introduced that it has turn out to be conscious that E-Home (China) Enterprise Holdings Restricted (“E-Home”) (Inventory Code: 2048), listed on The Inventory Alternate of Hong Kong Restricted (the “Hong Kong Inventory Alternate”), has entered into definitive agreements with Mr. Xin Zhou, Leju’s government chairman, and sure of his affiliated entities (“Zhou Events”), and SINA Company and its affiliated entity (“SINA Events”), to amass an mixture of 56.19% curiosity within the issued share capital of Leju.
To Leju’s information, pursuant to the agreements, E-Home has conditionally agreed to buy (i) 49,686,192 peculiar shares and a couple of,239,804 ADSs (every representing one peculiar share) of Leju from the Zhou Events by issuing to the Zhou Events 166,918,440 of its peculiar shares (“E-Home Shares”), and (ii) 24,438,564 peculiar shares and 36,687 ADSs (every representing one peculiar share) of Leju from the SINA Events by issuing to the SINA Events 78,676,790 E-Home Shares. The completion of those transactions is topic to sure closing circumstances, together with the approval by the requisite majority of shareholders or unbiased shareholders of E-Home and the granting of the approval for the itemizing of, and permission to deal in, the E-Home Shares by the Hong Kong Inventory Alternate. Upon completion of those transactions, Leju will turn out to be a subsidiary of E-Home and its monetary outcomes can be consolidated into the accounts of E-Home.
As well as, E-Home introduced the institution of strategic cooperation with Alibaba Group Holding Restricted (NYSE, BABA, 09988.HK) (“Alibaba”). In line with a enterprise cooperation settlement entered into between E-Home and a subsidiary of Alibaba, the 2 events will cooperate in areas together with online-offline actual property transaction, digital advertising and after-sale companies with the aim of enhancing the digital and mental capabilities of the actual property service business. Alibaba will carefully collaborate with E-Home and Leju to construct an internet actual property advertising platform and digital transaction community, with E-Home being the operator of on-line transaction companies on the platform and Leju being the operator of digital advertising companies.
Additionally to Leju’s information, Alibaba has agreed to (i) subscribe for E-Home Shares to be issued by E-Home, which can enhance Alibaba’s stake in E-Home to roughly 8.32%, and (ii) subscribe for a convertible notice to be issued by E-Home that’s convertible into E-Home Shares. Assuming full conversion of the convertible notice, Alibaba will personal a complete 13.26% of the issued share capital of E-Home, making it the second largest shareholder of E-Home.
“The cooperation between E-Home and Alibaba just isn’t solely a key milestone in E-Home’s and Leju’s improvement, but additionally a big occasion in China’s actual property service business,” mentioned Mr. Xin Zhou, Leju’s government chairman. “Within the technique of collaborating with E-Home and Alibaba to construct an internet actual property advertising and transaction platform, Leju will leverage its expertise in on-line advertising and transaction service and turn out to be the service supplier for digital advertising and operation on the platform. This can vastly improve Leju’s core worth and competitiveness.”
Leju Holdings Restricted (“Leju”) (NYSE: LEJU) is a number one e-commerce and on-line media platform for actual property and residential furnishing industries in China, providing actual property e-commerce, internet advertising and on-line itemizing companies. Leju’s built-in on-line platform includes varied cellular functions together with native web sites overlaying greater than 380 cities, enhanced by complementary offline companies to facilitate residential property transactions. Along with the Firm’s personal web sites, Leju operates the actual property and residential furnishing web sites of SINA Company, and maintains a strategic partnership with Tencent Holdings Restricted. For extra details about Leju, please go to http://ir.leju.com.
Protected Harbor Assertion
This announcement comprises forward-looking statements. These statements are made beneath the “secure harbor” provisions of the U.S. Non-public Securities Litigation Reform Act of 1995. These forward-looking statements may be recognized by terminology resembling “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and related statements. Statements that aren’t historic info, together with statements about Leju’s beliefs and expectations, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties. Plenty of components might trigger precise outcomes to vary materially from these contained in any forward-looking assertion All data supplied on this press launch is as of the date of this press launch, and Leju doesn’t undertake any obligation to replace any forward-looking assertion, besides as required beneath relevant regulation.
For extra data, please contact:
Ms. Christina Wu
Leju Holdings Restricted
Cellphone: +86 (10) 5895-1062
Cellphone: +86 135-0116-6560
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SOURCE Leju Holdings Restricted