Stock Track | iQiyi Inc. Shares Plummet 7.38% After Issuing New Debt, Broad Chinese ADR Selloff

Stock Track

Feb 24, 2025

iQiyi Inc. (IQ) saw its shares slump 7.38% in Monday trading, amid a broader selloff in Chinese ADRs and a dilutive debt offering by the company.

The Chinese streaming giant closed a $350 million offering of 4.625% convertible senior notes due 2030, with net proceeds of around $344.8 million to be used for repaying and repurchasing existing debt securities and general corporate purposes. The company also repurchased around $300 million of its existing convertible senior notes.

The stock's decline came as part of a broader selloff in Chinese ADRs and ETFs, with the NASDAQ Golden Dragon China Index (CWEB) down 10% and the Direxion Daily FTSE China Bull 3X Shares ETF (YINN) falling 6%. Big names like Alibaba (BABA), Pinduoduo (PDD), and Bilibili (BILI) were also down around 7% in morning trading.

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Shares Plummet 7.38% After Issuing New Debt, Broad Chinese ADR Selloff\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086803395\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock Track </p>\n<p class=\"h-time\">2025-02-24 23:04</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>iQiyi Inc. (IQ) saw its shares slump 7.38% in Monday trading, amid a broader selloff in Chinese ADRs and a dilutive debt offering by the company.</p>\n\n<p>The Chinese streaming giant closed a $350 million offering of 4.625% convertible senior notes due 2030, with net proceeds of around $344.8 million to be used for repaying and repurchasing existing debt securities and general corporate purposes. 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