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AI pioneer Baidu said to be readying for big secondary float in Hong Kong By OUYANG SHIJIA | China Daily | Updated: 2021-03-11 09:31 Share Chinese internet giant Baidu s logo. [Photo/Sipa]
Internet giant Baidu Inc has moved a step closer to a secondary listing of its shares in Hong Kong after completing the necessary listing hearings at the city s bourse, experts said.
Though the company has not indicated the size, timing and details of the fundraising, the news sent its shares higher by 13.58 percent on Tuesday on the Nasdaq. Earlier reports had indicated that Baidu plans to raise at least $3.5 billion from its Hong Kong float.