18 Mar 2021 / 00:37 H. The logo of Baidu at the company’s headquarters in Beijing. – REUTERSPIX
HONG KONG: Baidu Inc has raised US$3.1 billion (RM12.77 billion) in its Hong Kong secondary listing, according to a filing by the Chinese internet search giant.
New York-listed Baidu said it will sell 95 million shares at HK$252 (RM133.73) apiece as part of the transaction.
The deal showed that the desire of Hong Kong s retail investors to buy into new stock market transactions shows no signs of slowing.
The retail tranche of the deal, which was worth 5% of the total share sale, was about 100 times oversubscribed, sources told Reuters, who added the institutional tranche was covered multiple times.
China s Baidu to raise $3 1 billion from Hong Kong listing
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UPDATE 1-China s Baidu to raise $3 1 bln from Hong Kong listing -sources
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