The online video streaming platform, which is majority owned by Baidu, has priced its shares in the middle of its range and will have a $14.5bn market cap.
China-based video streaming platform iQiyi will raise $2.25bn from its US initial public offering after pricing it at $18 per share, Reuters reported yesterday, citing a source familiar with the matter.
The company, which counts internet group Baidu as its majority shareholder and electronics manufacturer Xiaomi as another investor, is issuing 125 million American depositary shares (ADSs) priced in the middle of the IPO’s $17 to $19 range.
Founded in 2009 as Ding Xin, iQiyi runs an online streaming…
