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'China's Netflix' Leads 6 IPO Launches Exceeding $3B Total

Law360 (March 19, 2018, 9:54 PM EDT) -- Chinese video-streaming giant iQiyi Inc. has launched an estimated $2.3 billion initial public offering, leading six companies that set price ranges on Friday and Monday for IPOs estimated to raise nearly $3.1 billion combined and hit the market later this month.

Beijing-based iQiyi, represented by Skadden Arps Slate Meagher & Flom LLP, plans to offer 125 million shares priced between $17 and $19, raising $2.3 billion if shares price at midpoint. The streamer, often described as "China's Netflix" in media reports, was joined by five additional...
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