Qihoo works with Huatai Securities for home IPO

10



QIHOO 360, China’s biggest online security company, is expected to launch a domestic initial public offering next year after it delisted from New York in 2016.

Qihoo 360 is preparing for the domestic IPO with Huatai Securities, the China Securities Regulatory Commission’s Tianjin office said yesterday.

Qihoo 360 will sell new shares domestically, instead of buying a “shell” firm already listed and injecting assets into it, analysts said.

The announcement on the regulator’s website said Qihoo 360’s IPO process will be finished within one year.

In March 2016, shareholders of New York-listed Qihoo 360 approved a US$9.3 billion privatization plan, boosting the ambitions of China’s largest online security company to relist on home soil.