Baidu, the largest online search company in China, has listed its shares on the Hong Kong Stock Exchange following the US Nasdaq market.
In Hong Kong, the listing of stocks by major Chinese companies is occurring one after another, and it is thought that the aim is to diversify the sources of funding against the backdrop of the US-China conflict.
Baidu, China's largest online search company, listed its shares on the Hong Kong Stock Exchange on the 23rd, following the US Nasdaq market, which has been listed since 2005.
The amount raised by this listing is expected to reach a maximum of 380 billion yen in Japanese yen, and it is said that it will be used for the development of AI = artificial intelligence and autonomous driving.
In the midst of deepening conflict between the United States and China, in December last year, a law was passed in the United States to tighten inspections of foreign companies listed on the stock market with Chinese companies in mind, and in January, the New York Stock Exchange opened China. We have delisted three major telecommunications companies.
Baidu's listing in Hong Kong is also expected to diversify its funding sources as the United States tightens on Chinese companies.
There have been a series of companies listing stocks not only in the United States but also in Hong Kong, such as Alibaba, which is the largest online shopping company, and there is a growing view among market participants that this movement will continue.