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Baidu's IQiyi Targets US IPO In Early 2018: Bloomberg

Baidu Inc.'s (BIDU) iQiyi is targeting a U.S. initial public offering as soon as in 2018, which could value at more than $8 billion, the Bloomberg reported, citing two people familiar with the matter.

The company controlled by Baidu is about to kick off negotiations with banks and deal arrangers and is shooting for a valuation of as much as $10 billion, the report stated.

Baidu wants to continue holding a controlling stake in iQiyi upon the IPO via dual-class shares, the report added.

The report noted that the IPO process however is in its early stages and the final valuation could change.

Baidu declined to comment on Tuesday.

by RTTNews Staff Writer

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