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BIDU-SW Reportedly Mulling Upgrade of HK Listing to Primary Listing
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BIDU-SW (09888.HK) is contemplating an upgrade of its Hong Kong listing to a primary listing to meet the conditions for Southbound Stock Connect and shun potential adverse policies from the US, Bloomberg reported, quoting people with the knowledge of the matter. This discussion is purportedly expediting as Baidu plans to spin off Kunlunxin for a Hong Kong listing. Baidu is weighing a dual listing model at the moment, which requires stricter information disclosure and incurs higher administrative and other costs. Besides, Chinese companies need to meet the standards of weighted voting rights (WVR) to qualify for Shanghai-Hong Kong or Shenzhen-Hong Kong Stock Connects. AASTOCKS Financial News Website: www.aastocks.com |
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