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Baidu : looks to raise $3 billion in Hong Kong listing


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HONG KONG (Reuters) - Chinese search engine company Baidu Inc is looking to raise at least $3.03 billion by selling 95 million shares as books opened on Thursday for its Hong Kong listing, according to a term sheet from the deal s launch.
Baidu s New York listed shares were trading nearly 4% higher on the back of the deal being launched on Thursday.
In Hong Kong, the shares will be priced at no more than HK$295 ($38.02) per share for retail shareholders and represent 3.4% of the company s total shares, it said in documents sent to the Securities and Exchange Commission.
Institutional investors could pay more for the shares, a term sheet seen by Reuters showed, without specifying a range. ....

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