China's Baidu Confirms U.S. IPO for Its iQIYI Streaming Platform
Contributed by NAMPA / Reuters.
By Patrick Frater
LOS ANGELES (Variety.com) - Chinese Internet giant Baidu has confirmed plans to float its streaming-video subsidiary, iQIYI, in the U.S. But the company has not specified which exchange it will choose to list the popular platform, which claims half a billion monthly active users.
Baidu said Wednesday that it had filed a draft prospectus with the U.S. Securities and Exchange Commission for the IPO and listing of iQIYI shares. Baidu, which has itself been listed on NASDAQ since 2 ...