Qihoo $9.1b buyout leads privatisation wave

Qihoo 360's $9.1 billion buyout could become the biggest yet as more US-listed Chinese companies are taken private amid a surge in Chinese stock markets.

The surge in Chinese stock markets has sparked a wave of privatisations of US-listed Chinese e-commerce companies. Qihoo 360 Technology is the latest.

On Wednesday the Chinese internet company said it received a $9.1 billion buyout offer from chairman and chief executive officer Hongyi Zhou, Citic Securities, Golden Brick Capital Private Equity, China Renaissance Holdings, and Sequoia Capital China. If successful, the buyout will be the largest privatisation yet of a US-listed Chinese company.

Bankers expect more Chinese companies to be bought out and potentially seek listings back home due to the current bull frenzy in mainland Chinese shares as retail investors plough into...

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