Industry

Baidu Passes Hearing for Secondary Listing in Hong Kong

Mar 10, 2021, 07:51am2021/03/10 20:13:44 Pandaily

According to Hong Kong Stock Exchange documents, Baidu<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> has passed the hearing for its secondary listing on the Hong Kong Stock Exchange. The news sent Baidu<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder />’s US stock to a nearly 6% surge before the market on March 9.

Baidu<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> reportedly obtained the secondary listing approval from the Hong Kong Stock Exchange on March 4, and will begin accepting investors’ approval next week.

Earlier, it was reported that Baidu<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> had passed the listing hearing and would formally complete its second listing on the Hong Kong Stock Exchange in March, with a fundraising scale of up to $5 billion (approximately HK$39 billion), led by Bank of America, CLSA, and Goldman Sachs.

SEE ALSO: Baidu Obtains Green Light for Secondary Listing in Hong Kong

Baidu<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> was listed on Nasdaq in the United States on August 5, 2005 with an opening price of $66 per share. In the following years, Baidu<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder />‘s stock price experienced several ups and downs, reaching its highest intraday price of $354.82 per share on February 22 this year.