BRIEF-IReader Technology Plans Share Private Placement, Strategic Cooperation With Baidu

March 17 (Reuters) - IReader Technology Co Ltd:

* SAYS IT PLANS TO RAISE UP TO 700 MILLION YUAN IN SHARE PRIVATE PLACEMENT TO FUND PROJECT

* SAYS BAIDU'S INVESTMENT MANAGEMENT FIRM WILL SUBSCRIBE SHARES ISSUED BY CO'S SHARE PRIVATE PLACEMENT

* SAYS BAIDU'S INVESTMENT MANAGEMENT FIRM WILL OWN MORE THAN 5% STAKE IN THE COMPANY AFTER THE SHARE PRIVATE PLACEMENT AND BECOME CO'S AFFILIATE

* SAYS IT PLANS STRATEGIC COOPERATION WITH BAIDU Source text in Chinese: https://bit.ly/2WjPict; https://bit.ly/2QjnnWg; Further company coverage: (Reporting by Hong Kong newsroom)