Baidu’s IQiyi Picks BofA, Credit Suisse, Goldman for U.S. IPO: IFR

by swisscham in Bank, Finance, Insurance

Baidu Inc’s iQiyi, a Netflix style video streaming service in China, has picked three banks to help arrange a U.S. initial public offering (IPO) worth about USD 1 billion, IFR reported on 16 October, citing people familiar with the plans. Bank of America, Credit Suisse and Goldman Sachs will help manage the deal, expected for as soon as the first half of 2018, added IFR, a Thomson Reuters publication. Baidu and the three banks did not immediately reply to Reuters requests for comment on the IPO plans.

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