Chinese Streamer iQIYI to Raise New Finance in Debt and Equity Markets

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Chinese streaming platform iQIYI is returning to the U.S. financial markets for a twin-pronged capital injection. On Tuesday it unveiled plans to raise $800-900 million from the sale of debt instru…

. It says that the proceeds will be used to “expand and enhance content offerings, strengthen its technologies, and for working capital and other general corporate purposes.”

The preliminary prospectuses do not indicate the price of the new ADRs, nor the rate at which the notes can be converted into ADRs. If 40 million new ADR shares were to be sold at current market price, the company would raise $820 million, before expenses.

 

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