Baidu to Raise $3 Billion in Secondary HK Listing- PingWest
source link: https://en.pingwest.com/w/8426
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
Baidu to Raise $3 Billion in Secondary HK Listing
March 19, 2021 4:03 amBeijing (PingWest)—Chinese search engine giant Baidu announced that it will raise approximately HK$23.94 billion ($3.08 billion) in its upcoming secondary listing in Hong Kong at a price of HK$252 per share.
The internet giant plans to use part of the proceeds from the share sale to invest in its AI technology, including its AI cloud solutions, and autonomous driving platform Apollo.
According to the announcement, the stock will start trading on March 23, with the stock code "9888".
Baidu's chairman and chief executive officer Robin Li Yanhong holds approximately 57% of voting rights in the compan, according to the Post Hearing Information pack published on the Hong Kong Stock Exchange website last week.
Baidu said it has been investing in AI since 2010 to improve search and advertising monetization, and has used its core AI technology engine Baidu Brain to develop new AI businesses.
The document stated that as of October 30, 2020, Baidu had the largest portfolio of AI patents and AI patent applications in China. Baidu's open AI platform, with its developer community of over 2.65 million members, is the largest open AI platform in China, based on the number of developers as of December 31, 2020.
SHARE
Recommend
-
14
TechNasdaq-listed Chinese video platform Bilibili to raise over $2 billion in Hong Kong listingPublished Tue, Jan 5 202112:01 AM EST
-
7
Alibaba Plans to Raise USD5 Billion Through New Bond SalesAlibaba Plans to Raise USD5 Billion Through New Bond Sales February 3, 2021 6:45 pm Beijing (PingWest)- Chinese e-commerce giant Alibaba Group Holding Ltd will initiate a dolla...
-
9
Didi is Looking to Raise $4 Billion for Its Group Buying Business- PingWestDidi is Looking to Raise $4 Billion for Its Group Buying Business February 6, 2021 1:14 am Beijing (PingWest)—Chengxin Youxuan, the community group buying busin...
-
12
Baidu Wins Hong Kong Nod For Secondary listingBaidu Wins Hong Kong Nod For Secondary listing March 5, 2021 5:30 pm Beijing (PingWest)- Chinese search-engine and artificial intelligence firm Baidu obtained a green light from the Hong S...
-
10
Baidu Raises USD3.1 Billion in Hong Kong's Secondary ListingBaidu Raises USD3.1 Billion in Hong Kong's Secondary Listing March 24, 2021 9:30 am Beijing (PingWest)- Chinese search engine giant Baidu made a debut in a secondary listing...
-
5
JD Logistic set to raise HKD24.6 billion in IPO- PingWestJD Logistic set to raise HKD24.6 billion in IPO 11 hours ago JD logistics, the logistic arm of Chinese e-commerce giant JD.com is set to price its Hong Kong initial public offeri...
-
11
Chinese EV maker Xpeng to raise up to USD 2 billion via Hong Kong IPOChinese EV maker Xpeng to raise up to USD 2 billion via Hong Kong IPO 2 hours ago U.S listed Chinese electric carmaker Xpeng Motors has filed for a dual primary list...
-
7
Baidu’s USD1 billion bond sales draws strong investors demand- PingWestBaidu’s USD1 billion bond sales draws strong investors demand August 19, 2021 1:55 pm Chinese search engine giant Baidu has raised USD1 billion from its first US do...
-
10
Baidu’s Q3 total revenue hits $4.95 billion, driven by ad sales, AI, cloud productsBaidu’s Q3 total revenue hits $4.95 billion, driven by ad sales, AI, cloud products 2 hours ago Chinese tech giant Baidu today announced its unaudited f...
-
10
Weibo files for Hong Kong secondary listing as U.S listed Chinese tech firms accelerate pace to list homeWeibo files for Hong Kong secondary listing as U.S listed Chinese tech firms accelerate pace to list home November 20, 2021 3:25 pm...
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK