(Reuters) - Shares in Chinese streaming platform iQiyi Inc (IQ.O) opened at $18.20 in their market debut on Thursday, slightly ahead of the $18 initial public offering price.
The company, which is majority-owned by Chinese internet search firm Baidu Inc (BIDU.O), then pared gains in early trading to trade around $17.20. The IPO of the Netflix-like video platform priced on Wednesday in the middle of its $17-$19 per share guidance, generating proceeds of $2.25 billion.
Reporting by Joshua Franklin in New York
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