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KEY STAT | Baidu kicks off ‘homecoming’ listing, remains short of its target

Written by Julianna Wu Published on     1 min read

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Several other Chinese internet companies are preparing secondary listings in Hong Kong.

Internet giant and AI developer Baidu (NASDAQ: BIDU) will be raising about USD 3.1 billion from its secondary listing in Hong Kong, at a share price of HKD 252 (USD 32.5), which is 14.6% lower than the maximum target of HKD 295, according to its filing.

Earlier this month, car dealing platform Autohome (NYSE: ATHM; HKEX: 2518) staged the first homecoming listing of the year, raising USD 688 million at HKD 176.30, less than the USD 983 million it expected.

More than seven US-listed Chinese companies sought secondary listings in Hong Kong last year, with many others such as online travel agency Trip.com (NASDAQ: TRIP) and Twitter-alike social platform Weibo (NASDAQ: WB) expected to follow suit in 2021.

Following Baidu, online video streaming platform Bilibili (NASDAQ: BILI) will be next to list in the financial hub, after initiating its public offering on Wednesday, 36Kr reported.

Read this: Baidu rethinks cars from the ground up with new auto division

This article is part of KrASIA’s “Key Stat” series, where KrASIA picks and presents the most significant figures of the day’s technology and business world.

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