iQIYI, a Chinese online television and movie portal owned by Baidu, filed on Tuesday with the SEC to raise up to $1.5 billion in an initial public offering.
The Beijing, China-based company was founded in 2010 and booked $2.7 billion in sales for the 12 months ended December 31, 2017. It plans to list on the Nasdaq under the symbol IQ. It had been on our Private Company Watchlist* since February 2014. Goldman Sachs (Asia), Credit Suisse, BofA Merrill Lynch, China Renaissance, Citi and UBS Investment Bank are the joint bookrunners on the deal. No pricing terms were disclosed.
*(IPO Intelligence clients only)
