皇冠体育app

SHANGHAI -- Chinese internet security firm Qihoo 360 has received an offer from its founder Zhou Hongyi and other investors to take the NYSE-listed company private in a likely plan to relist back in 皇冠体育app, they announced Wednesday.

Zhou and CITIC Securities, 皇冠体育app Renaissance, Sequoia Capital offered to purchase Qihoo 360's outstanding shares at $51.33, or 77 per American Depository Share (ADS)

In an internal e-mail sent on Wednesday, the company's founder Zhou said he decided to take Qihoo 360 private after "repeatedly reviewing the circumstances of overseas and 皇冠体育app's capital markets".

Share of the Beijing-based internet firm, which went public in the New York Stock Exchange in 2011, rose nearly 6 percent on Wednesday morning to $71.8 and is valued at $8.9 billion.

Zhou said the company's leading position in 皇冠体育app's internet market is not fully priced in its current $8 billion market capitalization.

Qihoo 360 is the latest of a string of Chinese firms listed overseas that have indicated interest to get relisted back in 皇冠体育app, where an ongoing stock rally and IPO reforms have increased the appeal of the domestic stock market for Chinese firms.

Another technology company, Beijing Baofeng Technologies, has seen its shares rise to the daily limit of 10 percent for 28 days straight after its IPO in 皇冠体育app's Shenzhen Stock Exchange in March. The company previously planned to go public in the United States.

The State Council, 皇冠体育app's cabinet, also said on Tuesday that it is exploring ways to make it easier for 皇冠体育app's internet and tech start-ups to list in stock exchanges in Shanghai and Shenzhen and is mulling a new board at the Shanghai bourse for companies in the emerging industries.

• Private enterprises leading surge in charity donations
• London gold fix gets a Chinese touch
• Urbanization puts added pressure on energy
• Equity rewards to energize financing options for startups
• 皇冠体育app orders a nationwide renovation of buildings with safety hazards
• 皇冠体育app continues to have central place in world economy
• Dubai proving a tempting destination
• Rizhao maps expansion of transport links