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Video Platform iQiyi Aims to Raise $1.05 Billion in Convertible Bonds

Video Platform iQiyi Aims to Raise $1.05 Billion in Convertible Bonds

Baidu-backed Chinese video streaming platform iQiyi announced on Tuesday that the company was looking to raise $1.05 billion in convertible bonds. Over the past year, convertible bonds have become increasingly popular in Asia among tech companies that seek growth capital. It has only been four months since iQiyi’s last sales of convertible bonds. According to iQiyi, the funds will be used to cover operation expenses, enhance its content pool, and advance its IT capabilities. Read more on ifeng.com 

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