China's second biggest online video website Sohu.com has increased in value as it lead the gains of Chinese stocks on the basis of a news report saying the company would be privatized. Sohu denies the story's content.
Sohu's jump was at 12% buoying a 1.2% increase in the Bloomberg China-US Equity Index of most traded China based companies in the United States. Another subsidiary of Sohu is Changyou.com Ltd also recorded increases while online retailer eCommerce China Dangdang Inc recorded the largest increase.
The South China Morning Post of Hong Kong reported that Sohu was discussing with investment banks and private equity fund managers about privatizing the company. In a statement, Sohu CFO Carol Yu said that no discussions were ongoing or being 'currently contemplated' about the privatization of the company.
Sohu's shares were valued at US$48.84 while Changyou increased to US$32.24 in the NYSE, both their highest in recent record.
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