Qihoo seeks delisting in the US to go private

China's biggest Internet security services provider, Qihoo 360, has become the latest and largest Chinese company seeking to delist from the United States stock market.

It is attempting to cash in on bullish sentiment and high valuations at home.

A consortium led by Zhou Hongyi, the company's chairman and chief executive, made a preliminary nonbinding proposal on Wednesday to take the company private for $77 per share.