Iqiyi fell 7.58% and will issue US $800 million convertible preferred debt due in 2026

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Sina Technology News on December 16 afternoon news, iqiyi US shares fell 7.58% to $20.62.
On the morning of 16th, iqiyi announced that it would issue bonds with a total principal amount of $800 million, and also planned to grant it to the underwriters of the bonds. The underwriters of the bonds would provide 30 day options to purchase additional bonds with a total principal amount of $100 million. Iqiyi also said that while issuing the bonds, the company would issue a total of 40 million U.S. pre deposited shares (ads) according to market conditions. The company intends to give the Underwriters a 30 day option to purchase up to 6 million American Depository Receipts (ADRs) in total. The company will issue US $800 million convertible preferred claims due in 2026 and issue about 40 million additional ads. Iqiyi closed at $22.60 yesterday, with a market value of $16.368 billion.