HONG KONG, March 29 (Reuters) - Qihoo 360 Technology Co Ltd, China's third most-popular Internet company, has raised the pricing for its New York initial public offering because of "significant" investor demand, a source with direct knowledge of the IPO plans said on Tuesday.
The Beijing-based company had raised the proposed price guidance on it's stock to $13.5-$14.5 per share from $10.5-$12.5, said the source, who asked not to be identified because the revised terms are not yet public.
Venture capital and private equity firms Sequoia Capital, Highland Capital Partners, Trustbridge Partners and CDH Investments had agreed to buy $50 million worth of Qihoo shares in a private placement concurrent with the IPO, the source said. (Reporting by Stephen Aldred and Elzio Barreto; Editing by Chris Lewis)