U.S. IPO FOR BAIDU’S STREAMING UNIT

Beijing- based IQiyi, a videostreaming service owned by Baidu, has filed for an IPO with the U. S. SEC with an offering size of $ 1.5 billion. IQiyi, whose services are similar to Netflix, has 50.8 million subscribers and plans to list its American Depository Shares on the NASDAQ. In 2017, 21 Chinese firms went public on U. S. exchanges, raising $ 3.9 billion.