Report says China's iQIYI could raise $500 mln in Hongkong listing, shares down

PetIQ

06/10/2021 15:11

** China's Netflix-like video-streaming platform's
U.S-listed shares  IQ.O  down 1.5% in early trading
    ** Bloomberg News reports IQ has picked banks for its second
listing in Hongkong and could raise at least $500 mln in the
share sale, citing people familiar with the matter. (https://bloom.bg/3lfUIRZ)
    ** Bank of America Corp, CLSA Ltd and Goldman Sachs Group
Inc are working as advisers on the listing that could take place
as soon as the end of this year - report 
    ** IQIYI is a subsidiary of Chinese search engine giant
Baidu Inc  BIDU.O   9888.HK 
    ** BIDU was down 1.3% in early trading 
    ** BIDU and IQ did not immediately respond to Reuters'
requests for comment
    ** IQ shares down 57.3%, while BIDU down 31.5% YTD


 (Reporting by Eva Mathews in Bengaluru)
 ((eva.mathews@thomsonreuters.com))