Chinese tech giant Baidu gets go-ahead for secondary listing on Hong Kong stock exchange

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Chinese search engine and artificial intelligence giant Baidu is seeking to raise up to HK$28 billion ($3.6 billion) in its secondary listing in Hong Kong, the latest US-listed mainland technology giant to sell shares in the city.

Baidu is selling 95 million shares, or about 3.4 per cent of its issued share capital, at a maximum offer price of HK$295 ($38.02) per share. This gives it a premium of about 12 per cent premium to its American depositary receipts at $272.38 overnight on Nasdaq.

Still, the international placing . . .

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