Baidu, Inc. announced that its voluntary conversion from a secondary listing to a dual-primary listing on the Main Board of the Hong Kong Stock Exchange became effective today, making it a dual-primary listed company on both the Hong Kong Stock Exchange and the Nasdaq Global Select Market. The company's ordinary shares on the Hong Kong Stock Exchange and its American depositary shares on Nasdaq will continue to be fungible. Baidu, founded in 2000, is a leading AI company with a strong Internet foundation, trading on Nasdaq under the ticker BIDU and on HKEX under 9888 for the HKD counter and 89888 for the RMB counter. One Baidu ADS represents eight Class A ordinary shares.
Baidu IncDual-primary listing enhances corporate governance and access to Hong Kong investors, potentially improving liquidity and valuation.
