China Enterprise Daily Report | iQiyi will be listed in the US, Baidu said it is still holding
[Caixin.com] Baidu Financial Report disclosed that iQiyi has submitted a listing application to the US Securities and Exchange Commission.
On February 14, Baidu (NASDAQ: BIDU) released its fourth-quarter and full-year financial results for the fiscal year 2017. The financial report showed that its controlling subsidiary, iQiyi, had submitted a draft application to the US Securities and Exchange Commission (SEC). Will be holding the listing of iQiyi. In January, Reuters quoted people familiar with the matter, saying that iQiyi will complete the IPO at the end of the first quarter of this year or the beginning of the second quarter, raising about $1 billion. According to iResearch statistics, in December 2017, iQiyi PC and mobile daily users were 76 million and 158 million respectively, and the monthly average online time was 408 billion minutes, a year-on-year increase of 22%. In April 2017, iQiyi and streaming media service platform Netflix reached content licensing cooperation in the fields of drama, animation, documentary and reality show.
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