Leshi falls 4% as trading restarts

Approval given for financing to fund expansion, $1.5 billion acquisition of Le Vision Pictures

Shares in Leshi Internet Informat ion & Technology Corp slid 4.17 percent on Friday, on the first day's trading after a six-month suspension, after the securities regulator approved a major acquisition by the firm and a refinancing plan.

A statement on Thursday from the company said trading would resume after regulators approved its deal to buy Le Vision Pictures for 9.8 billion yuan ($1.49 billion) in cash and shares, and its issue of another 5 billion yuan in shares for use as working capital.