Baidu Preparing for Hong Kong Listing
[Asia Economy Beijing=Special Correspondent Park Sun-mi] Baidu, a Chinese search engine listed on Nasdaq, is reportedly pushing to also list on the Hong Kong stock market.
On the 7th, Global Times reported that Baidu recently conducted an internal evaluation to proceed with a secondary listing in Hong Kong, has been hiring personnel to engage with local institutions in Hong Kong, and has contacted several major investment banks.
The newspaper mentioned that although companies like Ctrip and NetEase, which are Chinese but listed on Nasdaq, are also discussing secondary listings on the Hong Kong stock exchange, Baidu's preparations for the secondary listing have progressed considerably.
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Industry insiders believe that Alibaba's successful listing on the Hong Kong stock exchange last November has greatly influenced mainland Chinese companies' decisions to move to Hong Kong. It is also expected that the number of mainland Chinese companies listed in the U.S. this year pursuing secondary listings in Hong Kong will increase.
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