Chinese Search Engine Giant Baidu aims to raise $3B in Hong Kong Listing

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.

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