Baidu completes dual-primary listing in Hong Kong and Nasdaq
Baidu has completed its transition from a secondary listing in Hong Kong to a dual-primary listing on the Hong Kong Stock Exchange and Nasdaq. The change took effect on September 1.
Chinese technology firm Baidu has finalized its transition from a secondary listing to a dual-primary listing on both the Hong Kong Stock Exchange (HKEX) and Nasdaq. This strategic shift became effective on September 1. Baidu's ordinary shares listed in Hong Kong and its American Depositary Shares (ADS) traded on Nasdaq will continue to be convertible.
The dual-primary status brings Baidu under the full scope of HKEX listing rules applicable to such issuers. Consequently, the 'S' marker previously associated with its Hong Kong stock short name, indicating a secondary listing, has been removed.
This change in listing status does not involve the issuance of new shares or any fundraising activities. The move is primarily an administrative update aimed at aligning its listing frameworks across major international exchanges.
Baidu, a major player in China's internet sector, is recognized for its search engine services and is actively investing in artificial intelligence and autonomous driving technologies.