Shares in iQIYI, a Chinese Netflix-style video streaming service controlled by search giant Baidu Inc., fell during its trading debut on March 29. The Beijing-based iQIYI sold 125 million U.S. depositary shares at $18 per share, which was in the middle of its range. The company raised $2.25 billion in its IPO, which was the largest of the year.
From:: Resource Investor