Netflix-Style iQiyi Seeks $300 Million for Hong Kong Listing (1)

IQiyi Inc. is seeking to raise $300 million for a listing in Hong Kong this year, potentially becoming the latest US-listed Chinese firm to tap investors closer to home.

The Netflix-style streaming service, owned by Baidu Inc., has begun discussions with global banks about a second listing in the city, people familiar with the matter said, asking to remain anonymous discussing a private deal. IQiyi’s US stock rose as much as 6% but pared gains to close little changed in New York.

IQiyi, which hosts a plethora of content from Chinese period dramas to blockbuster Hollywood films, joins ...