Rumor: Qihoo 360 to Spin Off Businesses for Future IPO in China
Sohu IT, 8/03/16
Having completed its privatization, Chinese internet services and security software provider Qihoo 360 is reportedly actively restructuring in preparation for a domestic backdoor listing, with plans to spin off its finance, desktop, mobile, and health businesses, according to a number of industry investors. The company reportedly reached out to investors two weeks ago with the new reorganization plans.
According to the tentative plans the company will spin off a number of businesses so that its main search and security businesses can IPO. Investors who participated in the privatization will receive proportional stakes in each of the four spun-off business units.
Editor's Note: For more information on this topic, please see "Qihoo 360 Completes 'Going Private' Merger," MD 7/15/16 issue.
Keywords: handset smartphone online healthcare financial services Internet IPO security Qihoo 360 backdoor listing online search corporate restructuring spin-off