Baidu to raise over $3B in HK secondary listing - report

Thursday, 11. March 2021 11:52

Baidu Inc. is aiming to raise at least $3 billion in a secondary listing on the Hong Kong Stock Exchange, two unnamed sources with knowledge of the matter told CNBC on Thursday.

The listing, expected to be finalized ahead of the end of March, will reportedly include 4% of the company's stock. The shares' final pricing could be revealed to the public by the end of next week, according to the report.

The Chinese tech company's shares were 4.55% higher in premarket trade on the New York Stock Exchange, selling for $266.75 at 5:54 am ET.

Related Links: Baidu Inc.
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Breaking the News / MS