BEIJING, January 22 (TMTPOST)— China’s largest search engine Baidu has officially filed for its secondary listing with the Hong Kong Stock Exchange and picked Goldman Sachs and CITIC Securities as sponsors for the deal, Tencent News reported on Friday, citing unidentified sources.
According to HKEX’s procedure, it is not necessary for US-listed Chinese companies to file their listing application with public statement.
Baidu may start its offering in Hong Kong the same period with Chinese leading online entertainment platform Bilibili, given the latter announced it has filed for listing in the second week of the month, the Tencent report said.
Earlier this week, Tencent’s sources revealed Baidu planned to file for Hong Kong listing after next month’s Chinese New Year. If Baidu really filed early, both the company and Bilibili would face pressure in their road show, since they have to vie for funds from local institutional investor.