iQIYI (IQ) plans to raise $2.3 billion in an initial public offering (IPO) on Thursday, March 29th, IPO Scoop reports. The company plans to issue 125,000,000 shares at a price of $17.00-$19.00 per share.
In the last twelve months, iQIYI generated $2.7 billion in revenue and $149.5 million in net income. iQIYI has a market cap of $5.4 billion.
Goldman Sachs (Asia), Credit Suisse and BofA Merrill Lynch served as the underwriters for the IPO and China Renaissance, Citigroup and UBS Investment Bank were co-managers.
iQIYI was founded in 2010 and has 6014 employees. The company is located at 9/F, iQIYI Innovation Building, No. 2 Haidian North First Street, Haidian District, Beijing, 100080, People’s Republic of China and can be reached via phone at +86 10 6267 7171 or on the web at http://www.iqiyi.com.
Receive News & Ratings for iQIYI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iQIYI and related companies with MarketBeat.com's FREE daily email newsletter.