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Baidu's iQiyi picks BofA, C. Suisse, Goldman for U.S. IPO: IFR
October 16, 2017 / 9:56 AM / 2 months ago

Baidu's iQiyi picks BofA, C. Suisse, Goldman for U.S. IPO: IFR

HONG KONG (Reuters) - 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 $1 billion, IFR reported on Monday, citing people familiar with the plans.

A person holds a phone with Baidu Inc's video streaming service iQiyi in Jinan, Shandong province, China, in this May 25, 2016 photo illustration. Picture taken May 25, 2016. REUTERS/Stringer

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.

Reporting by Fiona Lau of IFR; Writing by Elzio Barreto

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