| Qihoo 360 Technology, the #3 Internet company in China with 339 million monthly active Internet users, announced terms for its IPO on Wednesday. The Beijing-based company plans to raise $139 million by offering 12.1 million ADSs shares at a price range of $10.50 to $12.50. At the mid-point of the proposed range, Qihoo 360 Technology will command a market value of $1.4 billion. Qihoo 360 Technology, which was founded in 2005 and booked $58 million in sales last year, plans to list on the NYSE under the symbol QIHU. UBS Investment Bank and Citi are the lead underwriters on the deal, which is expected to price during the week of March 28. |
