Economy

China's Qihoo 360 files for US IPO of up to $200m

(Agencies)
Updated: 2011-03-15 09:11

Qihoo 360 Technology Co Ltd filed with US regulators on Monday to raise up to $200 million in an initial public offering of American Depositary Shares (ADS).

The number 3 internet company in China told the US Securities and Exchange Commission in a preliminary prospectus that UBS investment bank, Citi and Stifel Nicolaus Weisel are underwriting the IPO.

The company which also provides internet and mobile security products in China said it would use the proceeds from the IPO for research and development and acquisition of technologies, products or businesses.

The filing did not reveal how many ADSs the company planned to sell or their expected price.

The company said it expects its ADSs to trade on the New York Stock Exchange under the symbol "QIHU."