(Yicai Global) July 18 -- Qihoo 360 Technology Co., a Chinese Internet security company, plans to list on China's A-share market next year after delisting from the New York Stock Exchange today in a USD9.4 billion take-private deal, according to reports.
The future market capitalization of the Beijing-headquartered company is estimated at CNY100 billion (USD15 billion). Qihoo aims to get approval for an initial public offering of mainland shares in late December and complete the listing in March 2017.
Qihoo [NYSE:QIHU] listed on the NYSE in 2011. A group of investors led by founder Mr. Zhou Hongyi concluded an all-cash privatization agreement last year. Its stock reached an all-time high of USD120.79 a share on March 3, 2014.
The total value of take-private deals received by Chinese concept stocks in 2015 exceeded that in the past 12 years combined. About 33 Chinese companies announced plans to privatize and delist from US stock markets, representing a total market capitalization of about USD40 billion.