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Baidu to Adopt Dual Primary Listing in Hong Kong From Sept. 1

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Baidu (HKG:9888, HKG:89888) will convert its Hong Kong secondary listing to a dual primary listing effective Sept. 1, according to a Thursday bourse filing.

The move will make Baidu dual-primary-listed on the Hong Kong Stock Exchange and Nasdaq.

Upon the conversion, Baidu will become subject to the full Hong Kong listing rules applicable to dual-primary issuers, with existing waivers for secondary-listed companies withdrawn or no longer applicable.

HKEX has granted Baidu waivers allowing it to continue using U.S. GAAP, maintain its existing contractual arrangements for certain mainland China businesses, and use Nasdaq-based pricing for options under its share incentive plan.

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