iQIYI Inc. Announces Pricing of Initial Public Offering
March 29 2018 - 6:00AM
iQIYI Inc. (NASDAQ:IQ) ("iQIYI" or the "Company"), an
innovative market-leading online entertainment service in China,
today announced the pricing of its initial public offering of
125,000,000 American Depositary Shares ("ADSs"), each representing
seven Class A Ordinary Shares of the Company, at a price
of US$18.00 per ADS for a total offering size
of US$2.25 billion, assuming the underwriters do not exercise
their option to purchase additional ADSs. The ADSs have been
approved for listing on the NASDAQ Global Market and are expected
to begin trading today under the ticker symbol "IQ."
The underwriters have been granted an option, exercisable within
30 days from the date of the final prospectus, to purchase up to an
additional 18,750,000 ADSs.
Goldman Sachs (Asia) L.L.C., Credit Suisse (USA) LLC and Merrill
Lynch, Pierce, Fenner & Smith Incorporated are acting as joint
bookrunners for the offering. The co-managers of the offering are
China Renaissance Securities (Hong Kong) Limited, Citigroup Global
Markets Inc., and UBS Securities LLC.
iQIYI’s registration statement relating to the offering has been
filed with, and declared effective by, the United States Securities
and Exchange Commission. This press release does not constitute an
offer to sell or a solicitation of an offer to buy the securities
described herein, nor shall there be any sale of these securities
in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.
This offering is made only by means of a prospectus forming a
part of the effective registration statement. A copy of the
prospectus relating to the offering may be obtained by
contacting:
Goldman, Sachs & Co. LLC Attention: Prospectus
Department 200 West Street New York, NY 10282United
StatesPhone: +1-212-902-1171Prospectus-ny@ny.email.gs.com;
Credit Suisse Securities (USA) LLC, Attention: Prospectus
Department One Madison Avenue New York,
NY 10010 United States Phone:
+1-800-221-1037 newyork.prospectus@credit-suisse.com;
BofA Merrill LynchNC1-004-03-43200 North College Street, 3rd
floorCharlotte, NC 28255-0001Attn: Prospectus Department
dg.prospectus_requests@baml.com.
About iQIYI Inc.
iQIYI, Inc. (NASDAQ:IQ) (“iQIYI” or the “Company”) is an
innovative market-leading online entertainment service in China.
Its corporate DNA combines creative talent with technology,
fostering an environment for continuous innovation and the
production of blockbuster content. iQIYI’s platform features highly
popular original content, as well as a comprehensive library of
other professionally-produced content, partner-generated content
and user-generated content. The Company distinguishes itself in the
online entertainment industry by its leading technology platform
powered by advanced AI, big data analytics and other core
proprietary technologies. iQIYI attracts a massive user base with
tremendous user engagement, and has developed a diversified
monetization model including membership services, online
advertising services, content distribution, live broadcasting,
online games, IP licensing, online literature and e-commerce etc.
For more information on iQIYI, please visit
http://ir.iqiyi.com.
For more information, please contact:
iQIYI Investor Relations+86 10 6267 7171 ext.
7888ir@qiyi.com
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