Chinese internet company Qihoo 360 Technology Co. has received a buyout offer of $9 billion USD from a group that includes the company’s Chairman and CEO Zhou Hongyi, they revealed yesterday.

The company’s board of directors will form a separate committee to assess the deal, which proposes a buyout of $77 USD per American depositary share. The company’s shares have jumped 12.9% to $74.10 USD in New York after hours trading.

China’s fertile stock market has begun to beckon several U.S.-listed companies back to the mainland. According to data firm Dealogic, 11 Chinese companies listed in the U.S. have announced plans to delist, including giants such as Ctrip.com and waning social network Ren Ren. The announcement from Qihoo now brings that number to 12.

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Cate Cadell

Cate is a tech writer. She worked as a journalist in Australia, Mongolia and Myanmar. You can reach her (in Chinese or English) at: @catecadell or catecadell@technode.com