Baidu to go ahead with secondary listing in Hong Kong

Beijing, 17th March: The NASDAQ-listed Baidu, the leading search provider in China, has announced the pricing of its secondary listing planned in Hong Kong. The company plans to raise US$3.1 billion from the listing. The global offering of 95,000,000 new Class A ordinary shares features an international offering and a Hong Kong public offering.

According to Baidu, the final offer price for both the international offering and the Hong Kong public offering has been set at HK$252 per share. Subject to approval from The Stock Exchange of Hong Kong Limited (HKEX), the shares are expected to begin trading on the Main Board of the HKEX on 23rd March 2021 under the stock code of 9888, while the global offering is expected to close on the same day.