BEIJING, March, 29, 2018
/PRNewswire/ -- Baidu, Inc. (NASDAQ: BIDU) ("Baidu"), the leading
Chinese language Internet search provider, today announced the
pricing of the initial public offering by its subsidiary iQIYI,
Inc. ("iQIYI") of 125,000,000 American Depositary Shares ("ADSs"),
each representing seven Class A Ordinary Shares of iQIYI, at a
price of US$18.00 per ADS for a total offering size
of US$2.25 billion, assuming the underwriters do not exercise
their option to purchase additional ADSs. The ADSs have been
approved for listing on the NASDAQ Global Market and are expected
to begin trading today under the ticker symbol "IQ." We have
subscribed for, and have been allocated by the underwriters,
8,333,333 ADSs in this offering at the initial public offering
price.
The underwriters have been granted an option, exercisable within
30 days from the date of the final prospectus, to purchase up to an
additional 18,750,000 ADSs.
Goldman Sachs (Asia) L.L.C.,
Credit Suisse (USA) LLC and
Merrill Lynch, Pierce, Fenner & Smith Incorporated are acting
as joint bookrunners for the offering. The co-managers of the
offering are China Renaissance Securities (Hong Kong) Limited, Citigroup Global Markets
Inc., and UBS Securities LLC.
iQIYI's registration statement relating to the offering has been
filed with, and declared effective by, the United States Securities
and Exchange Commission. This press release does not constitute an
offer to sell or a solicitation of an offer to buy the securities
described herein, nor shall there be any sale of these securities
in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.
This offering is made only by means of a prospectus forming a
part of the effective registration statement. A copy of the
prospectus relating to the offering may be obtained by
contacting:
Goldman, Sachs & Co. LLC
Attention: Prospectus Department
200 West Street
New York, NY 10282
United States
Phone: +1-212-902-1171;
Prospectus-ny@ny.email.gs.com;
Credit Suisse Securities (USA)
LLC,
Attention: Prospectus Department
One Madison Avenue
New York,
NY 10010
United States
Phone: +1-800-221-1037
newyork.prospectus@credit-suisse.com;
BofA Merrill Lynch,
NC1-004-03-43
200 North College Street, 3rd floor
Charlotte, NC 28255-0001
Attn: Prospectus Department
Email: dg.prospectus_requests@baml.com.
About Baidu
Baidu, Inc. is the leading Chinese language Internet search
provider. Baidu aims to make a complex world simpler through
technology. Baidu's ADSs trade on the NASDAQ Global Select Market
under the symbol "BIDU." Currently, ten ADSs represent one
Class A ordinary share.
About iQIYI, Inc.
iQIYI, Inc. is an innovative market-leading online entertainment
service in China. Its corporate
DNA combines creative talent with technology, fostering an
environment for continuous innovation and the production of
blockbuster content. iQIYI's platform features highly popular
original content, as well as a comprehensive library of other
professionally-produced content, partner-generated content and
user-generated content. iQIYI distinguishes itself in the online
entertainment industry by its leading technology platform powered
by advanced AI, big data analytics and other core proprietary
technologies. iQIYI attracts a massive user base with tremendous
user engagement, and has developed a diversified monetization model
including membership services, online advertising services, content
distribution, live broadcasting, online games, IP licensing, online
literature and e-commerce etc. For more information on iQIYI,
please visit http://ir.iqiyi.com.
Contacts
Investors Relations, Baidu, Inc.
Tel: +86-10-5992-4958
Email: ir@baidu.com
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SOURCE Baidu, Inc.