Baidu has started the process to become dual primary listed in Hong Kong and on Nasdaq, according to a company announcement cited by Securities Times. The company said its board has authorized management to move ahead with a voluntary conversion to a primary listing on the main board of the Hong Kong Stock Exchange, with the change expected to take effect within this year. Once the relevant procedures are completed, Baidu will hold dual primary listings in Hong Kong and the United States.
The company said the dual primary listing structure is expected to improve the liquidity of its securities, broaden its investor base, and give it greater flexibility to access the two capital markets. The update was reported by PANews on July 16. No further timetable beyond the expected completion within the year was disclosed in the report.
Baidu said its board has authorized management to proceed with a voluntary conversion to a primary listing on the main board of the Hong Kong Stock Exchange, with the change expected to take effect within this year.
After the relevant procedures are completed, Baidu will have dual primary listings in Hong Kong and on Nasdaq. The company said the arrangement would improve the liquidity of its securities, expand its investor base, and give it greater flexibility in accessing the two capital markets.
The development was reported by Securities Times and carried by PANews on July 16.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
