plans U.S. IPO for search service

U.S., 7th August: According to media reports, has filed the paperwork with the U.S. Securities and Exchange Commission for an initial public offering (IPO) of its search engine subsidiary, Sogou which is expected to be listed later this year.

The company did not release the number of American depositary shares to be offered or the price of the IPO. Previously, had planned to sell about 10% of its shares in an IPO and valued the company at about US$5 billion.