Baidu has authorized management to move ahead with a voluntary conversion to a primary listing on the Main Board of the Hong Kong Stock Exchange, according to a company announcement cited by Securities Times. The company said the change is expected to take effect within this year. Once the required procedures are completed, Baidu will hold dual primary listings in Hong Kong and on Nasdaq. The company said the new structure would improve the liquidity of its securities, broaden its investor base, and give it greater flexibility to access both capital markets. The update was reported by ChainCatcher, citing Securities Times.
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, according to a company announcement cited by Securities Times.
The company expects the move to take effect within this year. After the relevant procedures are completed, Baidu will have dual primary listings in Hong Kong and on Nasdaq. Baidu said the dual primary listing structure would improve the liquidity of its securities, expand its investor base, and provide greater flexibility in accessing the two capital markets.
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