The video streaming service, majority-owned by Baidu, has hired three banks to manage its initial public offering expected to take place in the first half of 2018.
China-based video streaming platform iQiyi has hired Goldman Sachs, Credit Suisse and Bank of America, for an IPO that would provide an exit to internet group Baidu, according to International Financing Review.
The flotation is expected to be worth approximately $1bn and take place as soon as the first half of 2018, though neither Baidu nor the three banks have commented on the initial public offering.
The news of iQiyi hiring underwriters follows reports last month that the company,…
