iQiyi, Inc., the online-video unit of Chinese tech giant Baidu Inc. fell sharply in its first day of trading on the Nasdaq Thursday, falling 13.61% to close at US$15.55, versus its IPO price of US$18. The decline came despite a strong performance by other tech companies on the day. iQiyi issued 125 million American Depositary Shares ("ADSs"), at a price of US$18.00 per ADS for a total offering size of US$2.25 billion, assuming underwriters do not exercise their option to …

Baidu’s iQiyi Falls 13.6% In First Day Of Trade After $2.25B Nasdaq IPO appeared first on China Money Network.


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