Representatives of iQIYI (IQ), one of the biggest video streaming platforms in China, rang the Nasdaq Stock Market opening bell in celebration of its initial public offering (IPO).
iQIYI traded on the Nasdaq under the ticker IQ, pricing its IPO of 125 million American depository shares (ADSs) at 18.0 U.S. dollars per ADS, for a total offering size of approximately 875 million dollars.
Netflix (NFLX), an American entertainment company, announced on April 25, 2017 that a licensing deal has been reached with iQIYI that would see some Netflix original productions be made available on iQIYI. The Beijing-based iQIYI is considered by many to be the “Netflix of China.”
iQIYI has more than 500 million monthly active users.
from The Daily Mail International – Leading English Newspaper from Pakistan https://ift.tt/2GLo0V3
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