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Leju CEO to buy 5% stake in company from E-House China for $9.3M

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Leju Holdings Limited, one of China's leading online-to-offline ("O2O") real estate services providers,recently announced that Geoffrey He, Leju's Chief Executive Officer, has agreed to purchase an aggregate of 6,788,198 ordinary shares of the Company, representing approximately 5% of the Company's current total outstanding share capital, from E-House (China) Holdings Limited ("E-House"), a principal shareholder of the Company.

The total consideration of the transaction is US$9,299,831, equivalent to US$1.37 per ordinary share or US$1.37 per ADS, which represents the average closing price of the Company's ADSs for the 30 consecutive trading days prior to June 27, 2018. This share purchase has been approved by Leju's Board and the shares purchased are subject to a three-year lockup.

"We are grateful for the support of our principal shareholder E-House," said Geoffrey He, Leju's Chief Executive Officer. "By investing personal funds to increase my stake in Leju, this share purchase reflects the confidence shared by me and Leju's management in the Company's business strategies and prospects, as well as our commitment to enhancing long-term shareholder value."

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in 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," "target," "going forward," "outlook" and similar statements. Leju may also make written or oral forward-looking statements in its reports filed or furnished with the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Leju's beliefs and expectations, are forward-looking statements that involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained, either expressly or impliedly, in any of the forward-looking statements. Such factors include, but are not limited to, fluctuations in China's real estate market; the highly regulated nature of, and government measures affecting, the real estate and internet industries in China; Leju's ability to compete successfully against current and future competitors; its ability to continue to develop and expand its content, service offerings and features, and to develop or incorporate the technologies that support them; its limited operating history and lack of experience as a stand-alone public company, given its carve-out from E-House and prior reliance on E-House for various corporate services; its reliance on SINA and others with which it has developed, or may develop in the future, strategic partnerships; substantial revenue contribution from a limited number of real estate markets; complexities resulting from its ongoing relationships with E-House, due to E-House's status as a principal shareholder of Leju; and relevant government policies and regulations relating to the corporate structure, business and industry of Leju. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and the Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

 

SOURCE Leju Holdings Limited
Edited by Gordana Davila

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