Baidu Seeks Dual Primary Listing in Hong Kong and the U.S., U.S. 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 Hong Kong Stock Exchange Main Board in accordance with Hong Kong Stock Exchange guidance letter HKEX-GL112-22. The main conversion is expected to take effect within this year. The board of directors has also authorized the company's management to conduct relevant preparations and take necessary steps to complete the main conversion. After the main conversion, the company will become a dual primary listed company on the Hong Kong Stock Exchange Main Board and the Nasdaq Global Select Market, with its Class A ordinary shares and American depositary shares continuing to be traded on both exchanges (as appropriate) and remain interchangeable.