Qihoo launches convertible bond to raise $600 million

The offering from the Chinese company, which specialises in developing internet and mobile security products, is the first in the US market from a mainland group since last September.

Qihoo launches convertible bond to raise $600 million
Qihoo, listed on NYSE, has a market capitalisation of $9.73 billion and is the largest company of its kind in China in terms of user base.

Qihoo 360 Technology, a Chinese internet service company, has raised $600 million from a convertible bond, the largest ever issued by a US-listed mainland company and the largest dollar convertible bond in Asia since 2011.

The offering from the company, which specialises in developing internet and mobile security products, was completed on an accelerated basis in order to minimise risk from potential fluctuations in the US market.

Citigroup, the sole global...

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