Baidu CEO says he may consider Hong Kong listing

Discussion in 'Stocks' started by ASusilovic, Nov 8, 2007.

  1. HONG KONG (MarketWatch) -- Nasdaq-listed Chinese Internet search engine Inc. may consider listing shares in Hong Kong, according to media reports Thursday.
    Chief Executive Robert Li was quoted in wire reports as saying a Hong Kong listing would raise the company's profile and help fund expansion into new areas such as online auctions.
    Li reportedly made the comments while addressing students at a Hong Kong university.
    Baidu, which ranks as China's largest Internet search engine by revenue, is reportedly seeking out potential acquisition targets among Chinese Internet companies with stakes in the consumer-to-consumer market.
    Listing shares in Shanghai is unlikely for Baidu, which would have to overcome market regulations that effectively block foreign-owned firms from selling shares on Chinese exchanges.}&dist=hplatest