Friday, April 23, 2021
 
Columnist
Martin Hennecke

Baidu comes knocking for US$5b listing in HK
 
03/03/2021
 
China's search engine giant Baidu is seeking listing approval for its Hong Kong secondary listing that could raise up to US$5 billion (HK$39 billion) as soon as this week, mainland media reported. The Nasdaq-listed firm has chosen CLSA and Goldman Sachs for its planned public sale, which could raise at least HK$27.3 billion, Bloomberg reported earlier. Baidu approved plans for a one-to-80 share split earlier this week, paving the way to the Hong Kong initial public offering. Meanwhile, Chinese video streaming company Bilibili aims to pass the hearing next week for its secondary listing that could raise up to US$3 billion. Bilibili, backed by Tencent (0700) and Alibaba (9988), said revenue for the fourth quarter last year jumped 91 percent to 3.84 billion yuan (HK$4.6 billion). But net loss widened 1.18 times to 843.7 million yuan. The number of average monthly users rose 55 percent to 202 million from the same period in 2019. Tencent-backed WeDoctor has added Credit Suisse, China International Capital Corporation and Goldman Sachs to its Hong Kong IPO that could raise about US$2 billion to US$3 billion, Reuters' IFR reported. WeDoctor is seeking to file the IPO application in the first half, according to the report. In preparation for the listing, the Hangzhou-based company is splitting its business into two parts, with plans to list its health-care services operations, Bloomberg reported earlier. In other news, shares of Chinese drugmaker SciClone Pharmaceuticals (6600) rose about 2 percent in gray markets ahead of market debut. SciClone raised HK$2.04 billion after pricing its IPO at HK$18.8 apiece, the top end of the indicative price range. The deal attracted more than 43,600 applications, with the retail tranche oversubscribed 1,067 times.

Previous news : Secondary sales fall 21pc as new projects launched
 

 

 
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