iQiyi may raise $1.5b from US float
By Ouyang Shijia | China Daily | Updated: 2018-03-01 08:14
Video streaming company to use IPO proceeds for market expansion
Chinese online video streaming service provider iQiyi.com, a unit of online search giant Baidu Inc, on Tuesday filed for an initial public offering in the United States to raise up to $1.5 billion.
The Beijing-based company, which is reportedly valued at $15 billion, has applied to list on the Nasdaq exchange under the symbol "IQ", it said in a filing with US Securities and Exchange Commission.
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