Why Sohu.com, Inc. Stock Popped Today
Shares of Sohu.com Inc. (NASDAQ: SOHU) were up 14.6% as of 1:30 p.m. EDT Friday after its Sogou.com subsidiary filed its F-1 registration statement with the U.S. SEC related to its impending initial public offering (IPO).
IMAGE SOURCE: SOHU.COM
To be fair, Sohu announced in late July that Sogou -- which is China's third-most popular internet search engine and comprised around 46% of Sohu's total revenue last quarter -- was planning to submit a confidential draft registration statement for its IPO. But investors received little additional information on the IPO at the time. And the confirmation of its formal F-1 filing today has investors excited for the prospects of the move, which should allow the two companies to better focus on fostering their respective businesses.
Source: Fool.com
