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Initial Public Offering

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Baidu Inc HKSE

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General info on Baidu Inc

About the company

Name

Baidu Inc

Industry

Internet

Employees

41,000

Founding year

2000

Ticker

Baidu Inc

Filing Information

IPO file date

09/03/2021

No. of shares

95,000,000

Price

$38.05

Exchange

Hong Kong Stock Exchange

Bookrunners

BofA Securities, CLSA, Goldman Sachs

IPO Details

Who is Baidu?

Baidu is a Chinese conglomerate specialized not only in Internet-related services and products but also in artificial intelligence. It is headquartered in Beijing, and it was founded in 2000 by Robin Li and Eric Xu.

Baidu IPO statistics

According to its SEC filing, Baidu is looking to raise $3.1 billion by selling 95 million shares, which represent 3.4% of the total number. The company joins the list of Chinese companies listed on the US and Hong Kong markets, such as Alibaba, JD.com, and NetEase.

Baidu stated that the listing proceeds would be invested in technology and boost sales of its AI products and overall corporate purposes. The final price will be set on March 17, and the shares will be available for trading on March 23.

What is Baidu’s market cap?

Baidu has a market cap of $91.62 billion.*

 

Basic info about Baidu

  • It was the first Chinese company to be included in the NASDAQ- 100 index.
  • In 2018 it joined the computer ethics consortium Partnership on AI, the first-ever Chinese company invited to participate.
  • Baidu means “a hundred times”, and it is a line from Xin Quji’s poem “Green Jade Table in The Lantern Festival.”

 

*as of March 19, 2021

 

Sources: sec.gov, cnbc.com, finance.yahoo.com, finviz.com

 

Summary

Ticker

-

Price

$38.05

Exchange

Hong Kong Stock Exchange

Bookrunners

BofA Securities, CLSA, Goldman Sachs

Key Points

Get a quick overview of the essential figures for Baidu Inc IPOBaidu Inc

Published AI patent applications in China

7K

Money raised during the latest funding round for its AI business

$2B

Income

$3.45B

Sales

$16.49B

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Status:

Available

IPO Date:

23/03/2021

Price

$38.05

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