iQiyi adds to stream of ADS fundraisings

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iQiyi adds to stream of ADS fundraisings

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Detail of the New York Stock Exchange building at Wall Street in New York City | Copyright: Karel Miragaya/kmiragaya - stock.adobe.com

US-listed Chinese companies have raised more than $12bn from equity investors in the past month, with iQiyi becoming the latest to simultaneously sell a convertible bond and price a follow-on offering of its American depositary shares. With valuations soaring for many of these stocks, bankers expect more issuers to jump into the market in 2021, writes Jonathan Breen.

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