Grand $150 million will become America's largest shareholder P2PLending Club

Shareholders dollar business model adjustment

21shijijingjibaodao· 2016-05-24 20:31:43

because of irregularities of troubled us P2P originator Lending Club suddenly have a new China gold master. May 23rd, the U.S. Securities Regulatory Commission Information show that Chen Tianqiao's grand group spent more than $150 million to buy stocks and options, or to become the largest shareholder of Club Lending. Affected by this news, Lending Club Monday's stock was soaring 14%, closing up 8%.

5 April 23, in lendingclub submitted to the U. S. securities and Exchange Commission (SEC) on the regulatory documents mentioned, controlled by Shanda founder Chen grand Media Co., Ltd., four companies, in lendingclub stake up to 11.7%. Specifically, the grand cost of $148 million 700 thousand, a total of 29 million shares to buy LendingClub shares; in addition, the grand also bought a LendingClub value of 11 million 200 thousand U.S. dollars of options. If the exercise of the option, Shanda will become the largest shareholder of LendingClub.

said in a statement, it increased its holdings of Club Lending shares, because it wants to invest in a large-scale and long-term, sustainable growth potential of the industry.

5 on March 16,, lending Club announcement said that the board of directors of the company will be found in the loan of $22 million illegal sale of internal evaluation, trading did not comply with the relevant regulations, thus, forced resignation of the company's founder and chief executive officer Renaud Laplanche (Laplan why) and three other executives and turnover. Club Lending director at the same time said it would conduct a comprehensive assessment of corporate governance, information disclosure and other policies.

the company was also disclosed, the U.S. Department of justice is investigating the company, and its business model may be a greater adjustment.

thus, Club Lending shares suffered a continuous slump, compared to the highest share price in 2015 after the NYSE listed $27.98, the current share price has shrunk by 85% LendingClub. However, if you do not consider options factors, the purchase price of the purchase price of about $5.12. Club

Lending said it had been in talks with the grand, and look forward to continuing the dialogue". Chen Tianqiao Shanda founder, 43 year old had passed Shanda Interactive (Shanda Interactive) was founded, to become a pioneer in the industry of Chinese network game, and has dispersed operations, involved in payment, real estate and venture capital. In April, Shanda acquired Baltimore based Asset Management Co (Legg Mason) 10% of the shares of Legg mason.

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