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Baidu announces pricing of iQIYI unit IPO

Friday 30 March 2018 | 08:21 CET | News
China's Baidu has announced the pricing of the initial public offering by its subsidiary iQIYI of 125,000,000 American Depositary Shares (ADSs), each representing seven Class A Ordinary Shares of iQIYI, at a price of USD 18 per ADS for a total offering size of USD 2.25 billion, assuming the underwriters do not exercise their option to purchase additional ADSs. The ADSs have been approved for listing on the NASDAQ Global Market. Baidu has subscribed for, and has been allocated by the underwriters, 8.33 million ADSs in this offering at the initial public offering price.

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Categories: Internet
Companies: Baidu
Countries: China
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