Chinese tech giant Baidu to raise at least $3 billion in Hong Kong listing this month

cnbc2021-03-11

KEY POINTS Baidu will raise at least $3 billion in a Hong Kong secondary listing this month, two people familiar with the matter told CNBC. Baidu, which is listed in the U.S. on the Nasdaq, will ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1198042327?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2021-03-11 18:34","share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","id":"1198042327","market":"us","top_or_hot":-1,"title":"Chinese tech giant Baidu to raise at least $3 billion in Hong Kong listing this month","media":"cnbc","content":"<div>\n<p>KEY POINTS\n\nBaidu will raise at least $3 billion in a Hong Kong secondary listing this month, two people familiar with the matter told CNBC.\nBaidu, which is listed in the U.S. on the Nasdaq, will ...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/11/baidu-hong-kong-listing-to-raise-at-least-3-billion.html\">Source Link</a>\n\n</div>\n","source":"cnbc_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Chinese tech giant Baidu to raise at least $3 billion in Hong Kong listing this month</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChinese tech giant Baidu to raise at least $3 billion in Hong Kong listing this month\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-11 18:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/11/baidu-hong-kong-listing-to-raise-at-least-3-billion.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nBaidu will raise at least $3 billion in a Hong Kong secondary listing this month, two people familiar with the matter told CNBC.\nBaidu, which is listed in the U.S. on the Nasdaq, will ...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/11/baidu-hong-kong-listing-to-raise-at-least-3-billion.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BIDU","symbol_name":"百度","start_time":0,"source_url":"https://www.cnbc.com/2021/03/11/baidu-hong-kong-listing-to-raise-at-least-3-billion.html","article_id":"1198042327","we_media_id":null,"thumbnails":[],"rights":{"source":"cnbc_highlight","url":"https://www.cnbc.com/2021/03/11/baidu-hong-kong-listing-to-raise-at-least-3-billion.html","rn_cache_url":null,"customStyle":"body{padding-top:10px;}.ArticleHeader-headline{#titleStyle#}a{#lv2TextColor#}.ArticleHeader-time, .Author-authorNameAndSocial a{#sourceStyle#;}","selectors":".PageBuilder-pageWrapper","filters":".ArticleHeader-eyebrow, .RelatedTags-relatedTags","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=1198042327","pubTimestamp":1615458857,"columns":[],"sourceInfo":{"source_id":"cnbc_highlight","name":"CNBC"},"weMediaInfo":null,"summary":"KEY POINTS\n\nBaidu will raise at least $3 billion in a Hong Kong secondary listing this month, two pe","collect":0,"end_time":0,"defaultTopTitle":"cnbc.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BIDU":"百度"},"translate_title":"中国科技巨头百度本月将在港上市融资至少30亿美元","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BIDU":0.9},"content_text":"KEY POINTS\n\nBaidu will raise at least $3 billion in a Hong Kong secondary listing this month, two people familiar with the matter told CNBC.\nBaidu, which is listed in the U.S. on the Nasdaq, will issue 4% of its shares, one of the people said.\nBaidu joins a long list of Chinese tech companies that are currently listed in the U.S. and that have done secondary offerings in Hong Kong, including Alibaba, JD.com and NetEase.\n\nGUANGZHOU, China —Baidu will raise at least $3 billion in a Hong Kong secondary listing this month, two people familiar with the matter told CNBC, making it the latest Chinese tech giant to raise money in the financial hub.\nThe listing will be completed before the end of the month, they said.\nBaidu, which is listed in the U.S. on the Nasdaq, will issue 4% of its shares, one of the people said.\nThe book building process could begin as early as Friday with the final pricing of the shares to be announced toward the end of next week, the person, who spoke on condition of anonymity because the details of deal are not yet public, told CNBC.\nBaidu declined to comment when contacted by CNBC.\nBaidu joins a long list of Chinese tech companies that are currently listed in the U.S. and have done secondary offerings in Hong Kong. They include Alibaba,JD.com and NetEase. CNBC reported in January that Chinese video streaming companyBilibilihasalso filed for a Hong Kong secondary listing.\nThese listings have transformed the Hong Kong stock exchange into an attractive place for Chinese tech companies to raise capital.\nMeanwhile, tensions between the U.S. and China have pushed some Chinese firms to look at secondary listings closer to home. In December, former U.S. President Donald Trump signed legislation that threatened to delist firms that do not comply with American auditing standards.\nDiversification plans\nBaidu could also be taking advantage of a huge 128% rise in its shares in the last 12 months in order to raise capital.\nWhile it has traditionally been known for its search and advertising business, Baidu has more recently looked to diversify.\nThe company has been focusing on its autonomous car business and is setting up standalone companies. CNBC reported in February that Baidu is looking to raise money for an artificial intelligence semiconductor company.\nBaidu also set up a standalone electric vehicle business with automaker Geely and is raising money for a biotechnology company.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":8,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1198042327"}