BEIJING, July 31, 2020 /PRNewswire/ -- Leju Holdings
Limited ("Leju" or the "Company") (NYSE: LEJU), a leading
e-commerce and online media platform for real estate and home
furnishing industries in China,
today announced that it has become aware that E-House (China) Enterprise Holdings Limited ("E-House")
(Stock Code: 2048), listed on The Stock Exchange of Hong Kong
Limited (the "Hong Kong Stock Exchange"), has entered into
definitive agreements with Mr. Xin
Zhou, Leju's executive chairman, and certain of his
affiliated entities ("Zhou Parties"), and SINA Corporation and its
affiliated entity ("SINA Parties"), to acquire an aggregate of
56.19% interest in the issued share capital of Leju.
To Leju's knowledge, pursuant to the agreements, E-House has
conditionally agreed to purchase (i) 49,686,192 ordinary shares and
2,239,804 ADSs (each representing one ordinary share) of Leju from
the Zhou Parties by issuing to the Zhou Parties 166,918,440 of
its ordinary shares ("E-House Shares"), and (ii) 24,438,564
ordinary shares and 36,687 ADSs (each representing one ordinary
share) of Leju from the SINA Parties by issuing to the SINA
Parties 78,676,790 E-House Shares. The completion of these
transactions is subject to certain closing conditions, including
the approval by the requisite majority of shareholders or
independent shareholders of E-House and the granting of the
approval for the listing of, and permission to deal in, the E-House
Shares by the Hong Kong Stock Exchange. Upon completion of these
transactions, Leju will become a subsidiary of E-House and its
financial results will be consolidated into the accounts of
E-House.
In addition, E-House announced the establishment of
strategic cooperation with Alibaba Group Holding Limited (NYSE,
BABA, 09988.HK) ("Alibaba"). According to a business cooperation
agreement entered into between E-House and a subsidiary of Alibaba,
the two parties will cooperate in areas including online-offline
real estate transaction, digital marketing and after-sale services
with the goal of enhancing the digital and intellectual
capabilities of the real estate service industry. Alibaba will
closely collaborate with E-House and Leju to build an online real
estate marketing platform and digital transaction network, with
E-House being the operator of online transaction services on the
platform and Leju being the operator of digital marketing
services.
Also to Leju's knowledge, Alibaba has agreed to (i) subscribe
for E-House Shares to be issued by E-House, which will increase
Alibaba's stake in E-House to approximately 8.32%, and (ii)
subscribe for a convertible note to be issued by E-House that is
convertible into E-House Shares. Assuming full conversion of the
convertible note, Alibaba will own a total 13.26% of the issued
share capital of E-House, making it the second largest shareholder
of E-House.
"The cooperation between E-House and Alibaba is not only a key
milestone in E-House's and Leju's development, but also a
significant event in China's real
estate service industry," said Mr.
Xin Zhou, Leju's executive chairman.
"In the process of collaborating with E-House and Alibaba to build
an online real estate marketing and transaction platform, Leju will
leverage its experience in online marketing and transaction service
and become the service provider for digital marketing and operation
on the platform. This will greatly enhance Leju's core value and
competitiveness."
About Leju
Leju Holdings Limited ("Leju") (NYSE: LEJU) is a leading
e-commerce and online media platform for real estate and home
furnishing industries in China,
offering real estate e-commerce, online advertising and online
listing services. Leju's integrated online platform comprises
various mobile applications along with local websites covering more
than 380 cities, enhanced by complementary offline services to
facilitate residential property transactions. In addition to the
Company's own websites, Leju operates the real estate and home
furnishing websites of SINA Corporation, and maintains a strategic
partnership with Tencent Holdings
Limited. For more information about Leju, please visit
http://ir.leju.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates" and similar statements. Statements that are
not historical facts, including statements about Leju's beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement All information provided
in this press release is as of the date of this press
release, and Leju does not undertake any obligation to update
any forward-looking statement, except as required under
applicable law.
For more information, please contact:
Ms. Christina Wu
Leju Holdings Limited
Phone: +86 (10) 5895-1062
E-mail: ir@leju.com
Philip Lisio
Foote Group
Phone: +86 135-0116-6560
E-mail: phil@thefootegroup.com
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SOURCE Leju Holdings Limited