Sohu Surges as Its Chinese Search Engine Prepares U.S. IPO
- Chairman Zhang says company is on ‘very good trajectory’
- Funding vital as streaming video service faces bigger rivals
The Sohu.com homepage
Photgrapher: Nelson Ching/BloombergThis article is for subscribers only.
Sohu.com Inc. rose the most in almost five years after its chairman said the Chinese company’s search engine subsidiary Sogou is on a “very good trajectory” as it prepares for a public listing in the U.S.
Sohu told investors Monday it planned to file paperwork with the U.S. Securities and Exchange Commission for an initial public offering of its mobile-centric search engine Sogou this year. The company didn’t say how many American depositary shares would be offered or at what price. Earlier this year, Bloomberg reported that Sogou was planning to sell about 10 percent of its shares in an IPO that would value China’s third-biggest search engine at as much as $5 billion.