LeTV goes for Internet finance

Shenzhen-listed Leshi Internet Information & Technology Corp, also known as letv.com, an online video service provider, saw its shares soar Wednesday due to unconfirmed news of its expansion into Internet finance.

Letv.com's share price rose by 7.52 percent to close at 45.92 yuan ($7.47) Wednesday, compared with a 0.17 percent fall on the benchmark Shanghai Composite Index and 0.06 percent rise on the Shenzhen Component Index Wednesday.

The video service provider is applying for a license to provide Internet financial services including peer-to-peer lending, monetary funds and payment service, financial news agency aastocks.com reported Wednesday.

Market analysts said the application will have a positive effect on the company due to the rapid development of Internet finance but it will not be easy to get the license, the report said.