TechFlow reports, July 16, Baidu (09888.HK) announced today that the Board of Directors approved a motion to seek voluntary conversion to a dual primary listing on the Main Board of the Hong Kong Stock Exchange in accordance with Hong Kong Stock Exchange Guidance Letter HKEX-GL112-22. The conversion is expected to take effect within this year. The Board of Directors has also authorized the Company's management to carry out relevant preparatory work and take necessary steps to complete the conversion.
After the conversion, the Company will become a company dual primarily listed on the Main Board of the Hong Kong Stock Exchange and the Nasdaq Global Select Market, its Class A ordinary shares and American Depositary Shares will continue to be traded on the two stock exchanges (as applicable), and will remain convertible between each other.
