Baidu plans iQiyi IPO

Updated 2016-12-23 10:03:32 Global Times/Agencies

Baidu Inc, China's largest internet search company, plans an initial public offering of shares in its video-streaming site, iQiyi.com, the Wall Street Journal reported, citing people familiar with the matter.

Baidu is considering listing iQiyi in Hong Kong or the US next year and could raise about billion through the IPO, the Journal reported.

Baidu could not immediately be reached for comment as of press time.

The Chinese company said in July that an offer it received in February from Robin Yanhong Li, head of Baidu, and Yu Gong, chief executive of the video streaming site, to buy its 80.5 percent stake had been withdrawn.

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