LeEco is setting aside 50 percent shares for its employees all around the world

Chinese internet and technology conglomerate LeEco on Wednesday announced that it is setting aside 50 percent of the company’s share for its employees. This will benefit nearly 10,000 employees when the $12 billion company goes public in the near future. LeEco has presence in mainland China, Hong Kong, India, the US and Russia. “We at LeEco are determined to bring our unique ecosystem and services to more and more countries in the future. We highly value talents as they are the cornerstone for constant technological innovations, and the major force to make ‘LeEco miracles’ around the world” said YT Jia, founder and CEO, LeEco. Employees at LeEco regional companies will be offered both the shares of the parent company LeEco Global and that of the regional companies they work at, the company said. LeEco employees will be offered shares in the local unit of the company, as well as the parent company, LeEco Global. When either the regional companies, or the parent company goes public, employees will be automatically awarded the value of the higher priced stock. After LeEco’s $2 billion acquisition of US TV maker Vizio, LeEco’s senior vice president Winston Cheng had announced that LeEco will go public in the US within four years. with inputs IANS