Tiger Newspress12-08 09:43
Baidu shares rose 4.5% in Hong Kong, and rose 3.8% in US overnight trading after the company said it is evaluating a potential spin-off and listing of Kunlunxin, but cautioned that there is no guarantee the spin-off or the listing will proceed.
Kunlunxin, the AI chip unit of Chinese internet search giant Baidu, is planning an initial public offering in Hong Kong, having recently completed a fundraising that valued it at 21 billion yuan ($2.97 billion), Reuters reported last week.
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