Baidu made a flat debut in Hong Kong, underperforming recent big tech listings in the city

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Baidu, China’s dominant internet search engine company, started trading in Hong Kong with less than 1 per cent premium after completing its HK$23.7 billion ($3.05 billion) stock offering, underperforming recent big technology listings in the city.

Its shares opened for trading at HK$254, according to stock exchange data, and rose to as high as HK$256.60 before ending their first day of trading unchanged at HK$252, capitalising the Beijing-based company at HK$700 billion.

They were earlier indicated at about HK$255 in grey-market trading on . . .

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