Baidu Seeks Dual Listing in Hong Kong and the U.S., US Stock Surges Nearly 3% in Pre-market Trading

BlockBeats News, July 16th, according to BIT (bit.com) market data, Baidu's US stock price surged nearly 3% in pre-market trading. Baidu announced today that its Board of Directors has approved a proposal to voluntarily convert to a dual primary listing on the Main Board of The Stock Exchange of Hong Kong Limited (HKEX) pursuant to HKEX-GL112-22 Guidance Letter. The primary conversion is expected to take effect within this year. The Board of Directors has also authorized the company's management to undertake the necessary preparations and steps to complete the primary conversion. Following the primary conversion, the company will become a dual primary listed company on the Main Board of HKEX and the Nasdaq Global Select Market, with its Class A ordinary shares and American depositary shares continuing to trade on both stock exchanges (as applicable) and remain interchangeable.