To the point:
- Baidu – The Largest Search Engine Of China, aims to raise $3 Billion from Hong Kong Stocks.
- On March 17, the final price for Baidu’s shares will be announced, and
- Trading on the Hong Kong market will begin on March 23.
Baidu is the most popular search engine of China which aims to raise $3 Billion from Hong Kong Stocks.
Bank of America, Citic Securities, and Goldman Sachs are leading the deal. A so-called greenshoe choice could raise the final deal size by 15% to about $3.5 billion.
According to the term sheet, Baidu plans to invest about half of the proceeds from the Hong Kong deal in technology to improve its artificial intelligence offerings.