January 12, 2018 / 12:50 AM / a year ago

Leview sells last stake in Hong Kong's Coolpad

HONG KONG, Jan 12 (Reuters) - Chinese smartphone maker Coolpad Group, part of the cash-strapped LeEco technology conglomerate, said Leview Mobile HK Limited had sold its remaining stake and had ceased to be a shareholder.

Leview Mobile last week sold 18 percent of the company to British Virgin Islands-incorporated Power Sun Ventures for $103 million, reducing its stake to 11 percent.

In the latest move, Leview Mobile sold its remaining 551.4 million shares to Cayman Islands-incorporated Zeal Limited for an undisclosed sum, Coolpad said in a filing late on Thursday. It gave no details on Zeal.

Data Dreamland Holding Ltd remains the third-largest shareholder with 9.2 percent of Coolpad.

Reporting by Donny Kwok; Editing by Stephen Coates

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