** iQIYI's IQ.O shares down 7% at $2.25 in premarket trading as Chinese video streaming platform seeks capital raise
** Beijing-based IQ announces offering of $300 million convertible bonds due 2030
** Bond issuance comes as Chinese tech stocks have rallied in recent weeks amid optimism around DeepSeek AI and thawing in authorities' approach to internet giants
** The unsecured bonds pay coupon of 4.25% to 4.75% per year, according to term sheet reviewed by Reuters
** IQ stock closed up 5% at $2.42 on Wednesday, giving co $2.3 billion market cap, according to data compiled by LSEG
** Co plans to use proceeds to repay debt and other purposes
** IQ shares up 20.4% YTD, after slumping 58.8% in 2024
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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